Jeffry Bartash of MarketWatch reports that the low level of layoffs has kept the economy expanding. He writes:
The number of Americans who applied for unemployment benefits last week fell to a nearly four-month low of 218,000, reflecting the reluctance of businesses to cut jobs even though they’re no longer hiring many new workers.
The remarkably low level of layoffs appears to be a saving grace for the economy. […]
Economists polled by The Wall Street Journal had forecast new claims to total 223,000, based on seasonally adjusted figures.
Key details: The number of new claims looked even better based on actual filings — that is, before seasonal adjustments.
Read more here.
