U.S. layoffs remain low; labor costs spike in second quarter

September 1, 2016 1:19 PM

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WASHINGTON The number of Americans filing for unemployment benefits rose less than expected last week, pointing to sustained labor market strength that could push the Federal Reserve closer to raising interest rates.

Other data on Thursday showed planned layoffs by U.S.-based employers decreased 29 percent in August and labor costs in the second quarter rose far more than previously reported.

Also read: U.S. economy creates 178,000 jobs in November; jobless rate drops to 4.6%

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