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- US stocks trade mixed on Thursday amid fresh signs the labor market remains tight.
- Weekly jobless claims unexpectedly declined, and second-quarter unit labor costs were revised up.
- That could put more pressure on the Federal Reserve to keep rates higher for longer.
US stocks traded mixed on Thursday, and the Nasdaq dropped for a fourth consecutive day as fresh data indicated that the labor market remains tight.
Weekly jobless claims unexpectedly fell, dropping to 216,000 from 228,000, and defying estimates for an uptick to 234,000. In addition, second-quarter unit labor costs were were revised up to show a gain of 2.2% after an earlier reading put it at 1.6%.