Jobless claims up slightly
Initial jobless claims rose by 4,000 for the week ending August 30, bringing the total for the week to only slightly higher than the projected 300,000.
Number of first-time jobless claims rose more than expected last week
Although the new figures are higher than expected, economic experts told Reuters that this uptick of jobless claims "probably reflected difficulties adjusting the data for seasonal fluctuations given a late Easter this year," and is not necessarily an indication…
Watch
News Wrap: Economic Report Paints Mixed Picture, Oblique Recovery Outlook
In other news Thursday, despite the fact that jobless claims filed last week were the lowest in 2 months, the Commerce Department revised economic growth estimates down by 0.4 percent to 1.3 percent. And the Obama and Romney campaigns used…
Watch
Regulators, Senate Considers Safety Net, Post-Stock Market Plunge
This month's stock market "flash crash" of 1,000 points was the subject of Senate hearings, as the federal regulators proposed new rules to prevent further instability. Jeffrey Brown talks to two financial experts for more on the markets.
In other news, the Labor Department reported that jobless claims fell, and orders for high-cost factory goods and new home sales rose in April.
In new signs that the recession may be ebbing, orders for big-ticket manufactured goods rose by 1.9 percent and the number of new jobless claims fell, although the number continuing to receive unemployment remained at the highest level since 1967.
Government reports show the number of new jobless benefit claims dropped to a seasonally adjusted 623,000, from 631,000 the previous week, while U.S. retail sales jumped 1 percent in January, reversing a six-month downward trend.
The Commerce Department reported Wednesday that consumer spending fell for a fifth straight month in November, and Americans' incomes dropped as well, partially reflecting massive job layoffs.
As the world's industrialized nations continued to roll out more plans to bolster flagging economies, European leaders called for a review of the global financial system.
Additional Support Provided By:
