U.S. weekly jobless claims drop to 19-month low
Author of the article: WASHINGTON — The number of Americans filing new claims for unemployment benefits dropped to a 19-month low last week, pointing to a tightening labor market, though a shortage of workers could keep the pace of hiring moderate in October. Initial claims for state unemployment benefits fell 6,000 to a seasonally adjusted…
Retail sales unexpectedly gain in September as consumers keep spending
Consumers spent at a much faster pace than expected in September, defying expectations for a pullback amid pervasive supply chain problems, the Census Bureau reported Friday.Retail sales for the month increased by 0.7%, against the Dow Jones estimate for a decline of 0.2%. Excluding auto-related sales, the number rose 0.8%, better than the 0.5% forecast.Compared…
Social Security cost-of-living adjustment will be 5.9% in 2022, biggest annual hike in 40 years
The Social Security cost-of-living adjustment will be 5.9% in 2022, the Social Security Administration announced Wednesday.The 5.9% COLA will be the biggest boost to Social Security beneficiaries’ checks in about 40 years.In 2021, the Social Security COLA was 1.3%. The last time the annual adjustment came close to the 2022 figure was in 2009, when…
Record 60 cargo ships wait to unload at busiest U.S. port complex
LOS ANGELES, Sept 15 (Reuters) – A record 60 container vessels are at anchor or adrift in the San Pedro Bay, waiting to be unloaded at the Port of Los Angeles/Long Beach seaports and another 20 are due to arrive in coming days, a port executive said on Wednesday.With the pandemic still raging around the…
US jobless claims rise by 4,000 to 353,000
The number of Americans applying for unemployment benefits rose for the first time in five weeks even though the economy and job market have been recovering briskly from the coronavirus pandemicBy PAUL WISEMAN AP Economics WriterAugust 26, 2021, 12:53 PM• 3 min readWASHINGTON — The number of Americans applying for unemployment benefits rose for the…
The U.S. now has more job openings than any time in history
In another drastic reminder of just how fundamentally the pandemic has distorted the labor market, the number of open jobs soared to a record 10.1 million in June, according to the latest monthly data from the Bureau of Labor Statistics’ Job Openings and Labor Turnover Summary. As the economy rebounds — even while the delta…
Economy added 943,000 jobs last month, vs. estimate for 850,000
The economy added 943,000 jobs in July, the Bureau of Labor Statistics said Friday, compared to analysts’ expectations of 850,000 positions added. It’s the biggest monthly gain since August 2020.The unemployment rate fell sharply to 5.4 percent from 5.9 percent, though 8.7 million Americans remain out of work.While likely to provide a shot of confidence…
Dow falls 323 points amid disappointing jobs data, COVID-19 concerns
U.S. markets fell Wednesday as July private-sector jobs numbers fell below analysts’ expectations amid surging COVID-19 cases. File Photo by John Angelillo/UPI | License Photo Aug. 4 (UPI) — The Dow Jones Industrial Average fell more than 300 points on Wednesday amid disappointing jobs data. The blue-chip index dropped 323.73 points, or 0.92% and the S&P…
Labor Dept. shows surprise increase in new unemployment claims
Pedestrians walk past the New York Stock Exchange on Monday on Wall Street in New York City. Photo by John Angelillo/UPI | License Photo July 22 (UPI) — After weeks of steady declines, the number of workers in the United States who have filed new unemployment claims has again surpassed 400,000, the Labor Department said…
Dow slides 300 points to cap off first weekly decline in a month amid inflation worries
A trader works on the floor at the New York Stock Exchange (NYSE) in New York City, New York, U.S., March 3, 2020. Andrew Kelly/Reuters US stocks dropped on Friday as investor concerns about rising inflation continued to linger.A better-than-expected June retail sales report was unable to move stocks higher.US consumers spent $621 billion at…
Russia heading for 2021 budget surplus, even with Putin spending goal -analysts
MOSCOW (Reuters) – Russia is on course to run a budget surplus this year, analysts say, a turnaround after strong half-year data, with high oil prices giving room to cover spending promises from President Vladimir Putin ahead of parliamentary elections.FILE PHOTO: An employee holds a sample of crude oil at the Yarakta oilfield, owned by…
Biden hails jobs numbers, gets testy with questions
President BidenJoe BidenConsultants found extensive concrete deterioration at Surfside building in 2020: report Arkansas coronavirus cases reach new high for second day since the winter Emergency physician gathering photos among wreckage of Surfside building collapse MORE on Friday hailed a new report showing the U.S. added 850,000 jobs in June, describing it as “historic progress”…
Dollar edges lower ahead of U.S. inflation data
Four thousand U.S. dollars are counted out by a banker counting currency at a bank in Westminster, Colorado November 3, 2009. REUTERS/Rick Wilking/File PhotoGraphic: World FX rates https://tmsnrt.rs/2RBWI5ELONDON, June 25 (Reuters) – The dollar drifted lower in Europe on Friday as an agreement on U.S. infrastructure spending underpinned appetite for riskier currencies, but caution ahead…
U.S. jobless claims dropping faster in states ending federal benefit
A sign advertising job openings is seen outside of a Starbucks in Manhattan, New York City, New York, U.S., May 26, 2021. REUTERS/Andrew KellyWASHINGTON, June 24 (Reuters) – Ongoing claims for U.S. unemployment insurance have dipped faster in recent weeks in states ending federal benefits this summer than in states keeping the $300 weekly supplement…
U.S. fed funds futures raise odds of rate hike in early 2023 after Fed statement
FILE PHOTO: Federal Reserve Board building on Constitution Avenue is pictured in Washington, U.S., March 19, 2019. REUTERS/Leah MillisNEW YORK (Reuters) -Futures on the federal funds rate, which track short-term interest rate expectations, on Wednesday raised bets that the U.S. Federal Reserve will tighten monetary policy in early 2023 after Fed projections showed at least…
TSA screens nearly 2 million Memorial Day weekend travelers
May 29 (UPI) — The Transportation Security Administration screened 1.96 million passengers Friday — the highest number of passengers the agency has screened in a day since the COVID-19 pandemic began. TSA spokeswoman Alexa Lopez wrote on Twitter Saturday that the number of passengers screened by the agency is “creeping up to 2 million” as…
Economy adds 266K jobs in April, far below expectations
The U.S. economy added 266,000 jobs in April and the unemployment rate rose to 6.1 percent, an unexpectedly poor showing falling well below expectations. The less-than-expected...
U.S. economy added 916,000 jobs in March, as vaccinations spur return to normal
The U.S. economy gained 916,000 jobs last month and the unemployment rate fell to 6 percent, in the strongest indication yet that the labor market...
US jobless claims fall to 684,000, fewest since pandemic
The number of people seeking unemployment benefits fell sharply last week to 684,000, the fewest since the pandemic erupted a year ago and a sign...
Economy adds 379K jobs in first report of Biden presidency
The economy added a whopping 379,000 jobs in February, a major improvement from the 49,000 jobs added the previous month, and over double the 175,000 economists expected....