drop in jobless claims shows signs of growth in us market
Last Updated : GMT 01:23:17
Arab Today, arab today
Arab Today, arab today

Drop in jobless claims shows signs of growth in US market

Arab Today, arab today

Arab Today, arab today Drop in jobless claims shows signs of growth in US market

Washington - Arabstoday

Applications for unemployment benefits dropped last week to the lowest level since April, a sign the weakness in the labour market is fading. Jobless claims fell by 24,000 to 398,000 in the week ended July 23, Labour Department figures showed today in Washington. The level of claims was fewer than forecast, as the median estimate of economists in a Bloomberg News survey called for a drop to 415,000. There were no special factors associated with the decrease other than the usual volatility that occurs each year in July, a Labour Department spokesman said. A reduction in firings is a necessary step towards the point when employers are more willing to add workers. The lack of hiring means the unemployment rate will probably keep hovering near 9 per cent, restraining consumer spending, which accounts for about 70 per cent of the economy. \"Layoffs clearly remain elevated, but the worst part of the adjustment to the first-half slowdown is abating,\" said Richard DeKaser, an economist at Parthenon Group in Boston. \"I still don\'t expect relief on the unemployment rate in the next few months.\" Article continues below Stock-index futures rose after the report, erasing earlier losses. The contract on the Standard & Poor\'s 500 Index maturing in September rose 0.2 per cent to 1,301.3 at 8:36am in New York. Treasury securities held earlier gains, sending the yield on the benchmark 10-year note down to 2.95 per cent from 2.98 per cent late yesterday. The median forecast was based on a survey of 44 economists. Estimates ranged from 400,000 to 440,000. The Labour Department revised the prior week\'s figure up to 422,000 from a previously reported 418,000. The seasonal-adjustment figures projected a drop for last week as the usual quarter-end increase receded, and the actual decrease was even larger, the Labour Department spokesman said as the data was released to the press. The projected drop also reflected the end of the traditional auto retooling shutdowns. The timing of closing for the new model year has been difficult to predict this year, making adjusting the claims data for these seasonal variations more challenging, the spokesman has said. The four-week moving average, a less volatile measure than the weekly figures, fell to 413,750 last week from 422,250. The number of people continuing to receive jobless benefits dropped by 17,000 in the week ended July 16 to 3.7 million. The continuing claims figure does not include the number of Americans receiving extended benefits under federal programmes. Those who\'ve used up their traditional benefits and are now collecting emergency and extended payments increased by about 62,400 to 3.76 million in the week ended July 9. The unemployment rate among people eligible for benefits decreased to 2.9 per cent from 3 per cent in the prior week, today\'s report showed. Twenty states and territories reported an increase in claims, while 33 reported a decrease. These data are reported with a one-week lag. Initial jobless claims reflect weekly firings and tend to fall as job growth — measured by the monthly non-farm payrolls report — accelerates. The economy\'s growth slowed in the second quarter to a 1.8 per cent annual rate, following a 1.9 per cent pace in the first three months of 2011, according to the median forecast in a Bloomberg survey ahead of a Commerce Department report today. Consumer spending likely grew at a 0.8 per cent rate, down from 2.2 per cent in the first three months of the year. Businesses and consumers also are concerned about the outcome of negotiations between President Barack Obama and Congress to reach a debt-ceiling agreement by Aug. 2 that would avert a US default.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

drop in jobless claims shows signs of growth in us market drop in jobless claims shows signs of growth in us market

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

drop in jobless claims shows signs of growth in us market drop in jobless claims shows signs of growth in us market

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today PNG police start removing refugees

GMT 03:00 2017 Friday ,24 November

PNG police start removing refugees
Arab Today, arab today Sophian Yussef reveals suitable decoration

GMT 02:56 2017 Thursday ,23 November

Sophian Yussef reveals suitable decoration
Arab Today, arab today Syria congress to go ahead

GMT 02:24 2017 Friday ,24 November

Syria congress to go ahead
Arab Today, arab today IS media offline for a day

GMT 02:10 2017 Friday ,24 November

IS media offline for a day
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Human form of 'mad cow' disease

GMT 00:11 2017 Friday ,24 November

Human form of 'mad cow' disease
Arab Today, arab today British woman jailed in Iran to appear

GMT 03:19 2017 Friday ,24 November

British woman jailed in Iran to appear
Arab Today, arab today 'Trash islands' off Central America indicate

GMT 20:19 2017 Friday ,24 November

'Trash islands' off Central America indicate
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mitsubishi Materials units falsified product

GMT 03:24 2017 Friday ,24 November

Mitsubishi Materials units falsified product
Arab Today, arab today 'Robo-taxis' hold promise, and perils

GMT 08:07 2017 Thursday ,23 November

'Robo-taxis' hold promise, and perils
Arab Today, arab today Solaf happy for participating in “Hotline”

GMT 07:56 2017 Wednesday ,22 November

Solaf happy for participating in “Hotline”
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead

GMT 08:03 2017 Tuesday ,21 November

Abeer Sabry reveals reason of “The Flood” success

GMT 08:03 2017 Thursday ,23 November

Srebrenica women cry tears of joy

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts

GMT 09:12 2017 Thursday ,23 November

4 in 10 cancers due to modifiable risk

GMT 10:47 2017 Wednesday ,22 November

The Big Apple bike boom

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday