US Jobless Claims at 15-Year Low; Consumer Spending Rises

Reuters
Hand circling ad in paper
Getty

By Lucia Mutikani

(Reuters) - The number of Americans filing new claims for jobless benefits tumbled to a 15-year low last week and consumer spending rose in March, signs the economy was regaining momentum after stumbling badly in the first quarter.

The economic outlook was brightened further by another report on Thursday showing a solid increase in wages in the first quarter, which should keep the Federal Reserve on track to raise interest rates this year.