New claims for jobless benefits for the week ending August 28th fell by 6,000 to 472,000 compared to the previous week. Employment remains a concern as companies hold off on hiring on fears that the economy could slow further in the second half of the year.
“The rate of layoffs is still uncomfortably high,†said Chris Low, chief economist at FTN Financial in New York. “This continues to feed the unemployment rolls. We see no reason to expect an acceleration in consumer spending.â€Â
Source: Bloomberg
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.
Latest posts by Scott Boyd (see all)
- Japan’s Demographic Trap - 25 June 2012
- Officials Talk Openly of Greek Euro Exit - 16 May 2012
- Greek Voters Prepare to Roll the Dice - 15 May 2012