New claims for unemployment benefits fell last week by 14,000 to 374,000, the lowest level in six weeks, according to the Labor Department. The four-week moving average of claims edged lower by 1,500 to 385,750. Also, Automatic Data Processing, a firm that processes payrolls for many companies, reported in its monthly announcement that businesses added 176,000 workers to their payrolls in June, a number that exceeded expectations.
…
Link to original: