U.S. weekly jobless claims rise; labor market still tightening

WASHINGTON - The number of Americans filing applications for unemployment benefits increased last week, but the trend in claims remained consistent with tightening labor market conditions.

The U.S. central bank on Wednesday lowered its benchmark overnight rate for the first time since 2008, to insure against downside risks to the economy from the trade tensions and slowing global growth. Fed Chairman Jerome Powell said the preemptive monetary policy easing was “not the beginning of a long series of rate cuts.”

U.S. financial markets were little moved by the data as investors continued to digest Wednesday’s rate decision and Powell’s comments.

That's odd... My company is paying 20 bucks an hour and we can't get people in the door to apply

The way the US counts its unemployed means that these numbers can never be trusted.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

A rise in Porsche EV interest could threaten longtime market leader TeslaPorsche surpassed 30,000 reservations for its upcoming Taycan electric sports car – putting it on course for a big entrance into the EV market. Why? Half of reservations are from Tesla owners. That means most won't buy by the time Taycan finally available and the Germans aren't interested. That isnt good for VAG. Bollocks
Source: BusinessInsider - 🏆 729. / 51 Read more »

U.S. markets gyrate after Fed cuts rates, stocks fallWall Street turned negative after Federal Reserve Chairman Jerome Powell in a pr... U.S. markets twerk after Fed cuts rates, stocks drop to the flo Powell's conference is supposed to manage expectations! In the past chairmen were smarter & more cautious! powell is a bad communicator and one misunderstanding can cost billions! POTUS Bet they will go up tomorrow!
Source: Reuters - 🏆 2. / 97 Read more »