US jobless claims fell last week

The US Department of Labor said that US jobless claims fell by 12,000 to a seasonally adjusted 237,000 for the week ending July 8, and the data included the July 4 Independence Day holiday. Analysts had expected jobless claims to rise to 250,000 last week, while continuing claims rose by 11,000 to 1.729 million during the week ending July 1.

The Fed's "Beige Book" report on Wednesday described that labor demand remained healthy in June, but noted that some contacts reported that hiring had become more targeted and selective.