WASHINGTON - The number of Americans filing applications for unemployment benefits increased moderately last week, pointing to still strong labor market conditions despite signs that economic activity was slowing.
“This big swing in the data over the past couple of months may reflect changing attitudes on trade given that the sampling for the June reports probably occurred around the time of peak concern about trade policy between the U.S. and Mexico,” said Daniel Silver, an economist at JPMorgan in New York. Last week’s claims data covered the survey period for the nonfarm payrolls component of July’s employment report. Claims were little changed between the June and July survey periods, suggesting strong job growth this month. The economy created 224,000 jobs in June.
Solid job growth is helping to underpin the economy, which is slowing as last year’s massive stimulus from tax cuts and more government spending fades. Weak manufacturing and housing, as well as a widening trade deficit are partially offsetting strong consumer spending.
And DEMOcRATS are still saying the Obama created the jobs. Ha!
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Oil service firms eye new survival tactics amid weak U.S. marketPackers Plus Energy Services, a company built on the North American shale oil bo...
Source: Reuters - 🏆 2. / 97 Read more »
U.S. housing market stuck in a rut despite lower mortgage ratesU.S. homebuilding fell for a second straight month in June and permits dropped t... GREAT NEWS! I live in Silicon Valley and CAN HARDLY GET DOWN THE ROAD FOR THE people, and construction ... GROWTH. Now, I may be able to pull into my driveway and get into the house. 🏘️🏡🏠 RE: 'U.S. housing market stuck in a rut ....' But I thought the economy was booming 😂😂😂 We are becoming more like the EU, a state of renters. This is not all bad, housing ruins the environments.
Source: Reuters - 🏆 2. / 97 Read more »
U.S. housing market stuck in a rut even as mortgage rates fallU.S. homebuilding fell for a second straight month in June and permits dropped t... You mean a generation of young adults burdened with growing student loans and personal auto loans are not partaking in the housing market? Color me spooked. Whoever could have predicted that giving the highest earning 1% a huge tax break would have had such a catastrophic effect on the middle classes those self same tax cuts were alleged to be helping? realDonaldTrump may be able to point you in the right direction? At least there was a boom in some constricted markets like LA and SF. But now I’m hearing firsthand from developers in California that they’re done building. Too many regulatory processes to wade through.
Source: Reuters - 🏆 2. / 97 Read more »