U.S. jobless claims fall to 364,000, a new pandemic low
Last week’s drop in jobless claims nationally was steeper than economists had expected. Applications for unemployment benefits have now fallen in 10 of the past 12 weeks.
Economy
Articles
Consumer confidence up in June to highest level since pandemic
The proportions of consumers planning to purchase homes, automobiles and major appliances all rose in June, as did intentions to take vacations.
U.S. jobless claims tick down to 411,000 as pandemic fades
The Labor Department said Thursday that jobless claims declined by 7,000 from the previous week, to 411,000. The number of weekly applications for unemployment aid has fallen steadily this year, from about 900,000 in January.
Retail workers quitting at record rates for higher-paying work
Retail workers, drained from the pandemic and empowered by a strengthening job market, are leaving jobs like never before.
The 7 industries most desperate for workers
Sawmills, veterinary clinics and psychologists’ offices are among the businesses gripped by escalating worker shortages, as employers in a few pockets of the economy step up competition for workers and sharply increase wages.
U.S. sees record rise in wholesale prices over past year past year
The monthly gain in the producer price index, which measures inflation pressure before it reaches consumers, followed a 0.6% increase in April and a 1% jump in March, the Labor Department reported Tuesday.
May retail sales fell 1.3% as Americans spent less on goods
Retail sales fell in May, dragged down by a decline in auto sales and a shift by Americans to spend more on vacations and other services instead of goods.
Delicate task for Fed: When to pull back on low-rate support
With inflation rising in a fast-rebounding economy, the Federal Reserve is poised this week to discuss when it will take its first steps toward dialing back its ultra-low interest rate policies. It will be a fraught discussion.
Another big jump in prices tightens squeeze on U.S. consumers
American consumers absorbed another surge in prices in May—a 0.6% increase over April and 5% over the past year, the biggest 12-month inflation spike since 2008.
U.S. unemployment claims fall to 376,000, their sixth straight drop
The Labor Department reported Tuesday that a record 4 million people quit their jobs in April, a sign that they are confident enough in their prospects to try something new.
U.S. adds 559K jobs as businesses struggle to fill positions
Last month’s job growth was above April’s revised total of 278,000, the Labor Department said Friday, yet well short of employers’ need for labor. The unemployment rate fell to 5.8% from 6.1%.
New jobs report expected to show faster pace of hiring
Job postings in late May were nearly 26% above pre-pandemic levels, as posted jobs reached their highest level on record dating to 2000.
Fed survey sees faster growth despite supply-chain problems
Several of the central bank’s districts reported that increased vaccination rates and relaxed social-distancing measures were having a positive impact on the economy.
Forecast: Global economy rebounding, faces multiple threats
The Organization for Economic Cooperation and Development predicted global output would rise 5.8%, raising its forecast from 4.8% during its previous outlook in December.
Biden’s $6T budget: Social spending, taxes on business
President Joe Biden on Friday unveiled a budget for next year that’s piled high with new safety net programs for the poor and middle class, but his generosity depends on taxing corporations and the wealthy.
U.S. consumers boosted spending in April as inflation surged
The April gain was led by a 1.1% rise in spending on services, the sector that covers airline travel, hotels and restaurants—areas that were devastated by the pandemic-caused shutdowns a year ago.
First quarter GDP unchanged at robust 6.4% annual rate
The rise in the gross domestic product, the economy’s total output of goods and services, was the same as the government’s first look one month ago, the Commerce Department reported Thursday.
Survey: Business economists foresee best growth in 37 years
With viral cases dwindling, consumers increasing spending and more businesses reopening and hiring, economists have been upgrading their forecasts.
Retail sales were flat in April as stimulus spending waned
The report on Friday suggests Americans were heading out last month to eat instead of shop.
U.S. unemployment claims drop to 473,000, a new pandemic low
The number of weekly jobless claims—a rough measure of the pace of layoffs—has fallen significantly from a peak of 900,000 in January.