The number of people out of work in the United States has dropped, pointing to a tightening labour market.<br /><br /> According to a government report, unemployment fell 12,000 to a seasonally adjusted 267,000 for the week ending June 13.<br /><br /> Other data shows first time applications for jobless benefits slid down to a 15-year low.<br /><br /> At the same time US consumer prices recorded their largest hike in more than two years as gasoline prices surged.<br /><br /> It comes a day after the Federal Reserve said the US economy is likely strong enough to withstand an interest rate hike later this year.<br /><br /> Nonetheless, Fed Chair Janet Yellen said she wanted “more decisive evidence” that labour markets were healing and that wages would increase beyond their current “subdued pace.”
