American workers take a breather. The latest data on claims for unemployment benefits in the US surprised even analysts: the reduction was higher than expected. Between June 26 and July 2, it was the first drop in three weeks: applications to the Labor Department fell by 14 to 418. Analysts had forecast a reduction of only 3 units.
The average over the last four weeks, a more reliable indicator, also dropped by 3 to 424.750. Yet the American job market still remains fragile. According to many economists, when initial jobless claims fall below 400, it usually means that more new jobs are created than those lost. But this circumstance has not occurred in the US since 9 April.
