U.S. labor market tightens; manufacturing slows in October

By Reuters

Nov 01, 2018

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New applications for U.S. unemployment aid fell last week and the number of Americans receiving benefits was the lowest in more than 45 years as labor market conditions tightened further.

Other data on Thursday showed worker productivity slowing in the third quarter, but still growing at a relatively decent clip and compensation surging, adding to recent reports and anecdotal evidence that the strong labor market was pushing up wage gains.

The economy’s upbeat outlook was tempered by news that manufacturing activity slowed in October as a measure of new orders dropped to its lowest level in 1-1/2 years.

Read the full story at reuters.com.

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