Trump remains confident of the US’s economic policies
The number of Americans filing for unemployment benefits increased slightly last week, but remains at levels consistent with a tight labour market - a sign the economy there continues to grow and is still adding jobs.
US President Donald Trump, under siege in Washington, on Wednesday held a raucous political rally in Iowa, where he touted job gains and an improving stock market as evidence that his economic policies were working.
He also lauded his choice of super-wealthy economic appointees, such as his top economic adviser Gary Cohn, a former Goldman Sachs executive, and Commerce Secretary Wilbur Ross, a billionaire known for his investments in distressed assets, including Bank of Ireland.
"In those particular positions, I just don't want a poor person - does that make sense?" Trump asked supporters. "All we do is win, win, win," he added.
Initial claims for US state unemployment benefits increased 3,000 to a seasonally adjusted 241,000 for the week ending June 17, the Labor Department said yesterday. Economists polled by Reuters forecast first-time applications for jobless claims rising to 240,000.