Arab Today, arab today us jobless claims fall but hiring remains hurdle
Last Updated : GMT 22:04:34
Arab Today, arab today
Arab Today, arab today

US jobless claims fall but hiring remains hurdle

Arab Today, arab today

Arab Today, arab today US jobless claims fall but hiring remains hurdle

Washington - AFP

Signs that layoffs in the United States may be easing, according to data published Thursday, raised hopes for the troubled jobs market, but weak hiring remains the biggest roadblock to recovery. Faced with a sluggish domestic economy and threats to growth from Europe\'s debt crisis and China\'s slowdown, employers have been reluctant to add jobs amid the uncertainty. A day ahead of the government\'s keenly awaited June labor data, the Labor Department reported a better-than-expected reading on initial claims for unemployment benefits. New jobless claims -- an indicator of the pace of layoffs -- fell by 14,000 to 374,000 in the week ending June 30, the lowest reading since mid-May. Another indicator, planned layoffs, fell to a 13-month low in June, and were 39 percent lower than the announced job cuts in May, global outplacement consultancy Challenger, Gray & Christmas said. \"Even with recent signs that the economy is headed for another summer slump or worse, including the first contraction in manufacturing activity in three years, employers appear reluctant to shed too many workers,\" said John Challenger, the company\'s chief executive. Yet the problem is that even as layoffs may be easing, hiring remains dull. In Friday\'s much-awaited June jobs market data release, analysts expect the unemployment rate to come in unchanged at 8.2 percent, with just 100,000 jobs added last month, after a meager 69,000 in the prior month. \"With the pace of job cuts generally improved from the height of the recession and closer to a level consistent with growth, it is a lack of hiring that remains the biggest hurdle for the labor market,\" said Sara Kline at Moody\'s Analytics. The fresh data on layoffs does hold out some promise, given the economy\'s weakness. \"While tomorrow\'s employment numbers may not be great, it is beginning to look like the labor market is not nearly as weak as feared,\" said Joel Naroff of Naroff Economic Advisors. Kline pointed to data from payrolls company ADP, which said on Thursday that the US private sector added 176,000 jobs in June, 29 percent more than in May and better that economists\' forecasts. \"In conjunction with the morning\'s upside surprise from ADP about net private-sector job creation in June, the lower initial jobless claims number... does bode well for strength extending into July,\" she said. Nevertheless, there are recent signs of slowing growth in the economy from the first quarter\'s anemic 1.9 percent pace. On Thursday, the Institute for Supply Management delivered its second jolt of negative growth news for June. After reporting Monday that manufacturing fell for the first time in three years, the ISM said that growth slowed in the services sector, which accounts for two-thirds of the world\'s largest economy. The ISM\'s non-manufacturing index fell to 52.1 percent last month from 53.7 percent in May. A reading above 50 indicates growth in activity in the non-manufacturing sector, which accounts for about 70 percent of the US economy. A number below 50 means contraction. \"The number of industries reporting growth has declined steadily since March, which is the month that job growth started slowing as well,\" said Jennifer Lee at BMO Capital Markets.

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*

Arab Today, arab today us jobless claims fall but hiring remains hurdle Arab Today, arab today us jobless claims fall but hiring remains hurdle

 



Arab Today, arab today
Arab Today, arab today Heart of Turkish Riviera is Alluring Seaside Escape

GMT 11:11 2017 Tuesday ,28 March

Heart of Turkish Riviera is Alluring Seaside Escape
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Hamas leader accuses Israel

GMT 11:43 2017 Tuesday ,28 March

Hamas leader accuses Israel
Arab Today, arab today Media host gives priority to problems of people

GMT 07:00 2017 Tuesday ,28 March

Media host gives priority to problems of people
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Disaster costs nearly double to $175bn

GMT 10:42 2017 Tuesday ,28 March

Disaster costs nearly double to $175bn
Arab Today, arab today Campaign fights sexual harassment in Egypt

GMT 11:14 2017 Tuesday ,28 March

Campaign fights sexual harassment in Egypt
Arab Today, arab today Trump poised to roll back climate protections

GMT 09:28 2017 Tuesday ,28 March

Trump poised to roll back climate protections
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Uber grounds self-driving cars

GMT 09:11 2017 Monday ,27 March

Uber grounds self-driving cars
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Trump to roll back Obama clean power plan

GMT 11:10 2017 Monday ,27 March

Trump to roll back Obama clean power plan

GMT 09:58 2017 Saturday ,25 March

Nermein Al Fekki films “Foxes in the Valley”

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 04:51 2017 Friday ,24 March

Salvage of South Korea's Sewol ferry

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 09:02 2017 Thursday ,23 March

Laptop ban sparks ire

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 13:21 2017 Tuesday ,28 March

Samsung plans to sell refurbished Galaxy Note 7s

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
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