Judging from the latest jobless claims numbers, the U.S. labor market remains solid.
FOX's Jon Decker has more from the White House:
The number of Americans filing for unemployment benefits fell 16,000 last week to a seasonally adjusted 278,000.
The decline from a six-month high last week suggests that businesses remain confident enough in future economic growth to hold onto their employees. This despite global economic weakness and sharp declines in the stock market.
Yesterday, the Federal Reserve citing weaker U.S. growth indicated it might slow its pace of interest rate increases.
At the White House, Jon Decker, FOX News.