U.S. jobless claims fall slightly as concerns about a rapidly deteriorating economy ease

The number of Americans filing for unemployment benefits fell last week, but re-employment opportunities are becoming increasingly scarce, suggesting that the unemployment rate may remain high in August. Data released on Thursday showed that initial jobless claims fell by 2,000 to a seasonally adjusted 231,000 in the week ended August 24. Economists surveyed had expected initial jobless claims to be 232,000 last week. Initial jobless claims fell from an 11-month high in late July as auto plants temporarily shut down and the impact of Hurricane Beryl faded. They remain at levels consistent with a steady cooling of the labor market, which should help ease concerns about a rapid deterioration in the economy. (Jinshi)