News Formal

U.S. labor market gradually healing; inflation still benign

  • 📰 Reuters
  • ⏱ Reading Time:
  • 43 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 97%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

The number of Americans filing new claims for unemployment benefits fell to a seven-month low last week, but the pace of decline has slowed and further improvement could be limited by a raging COVID-19 pandemic

FILE PHOTO: People line up outside Kentucky Career Center prior to its opening to find assistance with their unemployment claims in Frankfort, Kentucky, U.S. June 18, 2020. REUTERS/Bryan Woolston

Fed Chair Jerome Powell told a European Central Bank forum on Thursday that spreading coronavirus infections posed a risk to the recovery, which he described as slowing. He added it was too soon to assess “with any confidence” the impact of promising news on experimental vaccines. Despite claims dropping to their lowest since March, they remained above their peak of 665,000 during the 2007-2009 Great Recession. Weak demand, especially in the services sector, is forcing employers to shed workers.

“Unfortunately, if we see major containment measures kick in again soon after Thanksgiving those jobless claims numbers will climb once more,” said James Knightley, chief international economist at ING in New York.slipped against a basket of currencies. U.S. Treasury prices rose.Unemployment claims peaked at a record 6.867 million in March.

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:

 /  🏆 2. in ZA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

South Africa South Africa Latest News, South Africa South Africa Headlines

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

March jobs report to preview speed of US labor market recoveryBusiness Insider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know. Shove your filthy masks!
Source: BusinessInsider - 🏆 729. / 51 Read more »

Rise in U.S. weekly jobless claims belies improving labor market conditionsThe number of Americans filing new claims for unemployment benefits unexpectedly rose last week, though the labor market recovery is gaining traction as economic activity picks up, driven by increased vaccinations and massive fiscal stimulus. There is no greater joy than having financial freedom to earn and a life free of debts, that’s why I keep posting a comment about majestic_marv I never thought of meeting a legit bitcoin trader after been scammed many times at my age but the heavens sent DennisWilliam09 who guided me and help me make a living through bitcoin with my LUNO app , I recommend you to meet him now and also be a beneficiary of good work POTUS45
Source: Reuters - 🏆 2. / 97 Read more »