The last week witnessed a sudden jump in new applications for unemployment benefits while the four-week average showing a healthy situation in the job market as it touched a record low since 15 April 2000.
Tags: Unemployment
Opinion among Federal Reserve Policymakers on U.S. rate hike isn't as divided as it seems
There are mixed opinions coming from the US Central Bank in the past few weeks, but the Federal Reserve policymakers aren't really as divided as they seem as they work under the same framework in determining when to increase interest rates.
Brazil's deepening recession worries bankers, fuels job cuts
The labor market in Brazil, one of the BRICS (Brazil, Russia, India, China and South Africa) nations, is fast worsening owing to intensifying recession in the domestic economy. The unemployment rate rose to 7.6 percent from the record low of 4.3 percent at the end of 2014. Many industrial estates in Brazil are running down signaling next big crisis for the economy.
Growth in U.S. employment could make Fed hike interest rate
American employers increased jobs at a quick pace last September, a signal that the labor market is close to full strength. This trend could possibly persuade the Federal Reserve to raise interest rates at one of its two remaining meetings this year, according to the Business Insider.
US home sales rise in August, Q3 forecasts in tact
Though US business investment marginally eased in August, the new home sales on the upward move during August. The latest data for August indicates that the US economy is not impacted much in line with ongoing global unrest. The US economy is growing as per the forecast for GDP growth rate of 1.4 percent for the third quarter. Barring aircraft and defense equipment, business investment showed a marginal drop of 0.2 percent during the month. The August' drop comes close after gains in July that were considered to be the biggest upward movement in the year boosting business confidence that American corporate sector is not disturbed by the sluggish global economy. New home sales in August rose 5.7 percent to annual growth of 552,000 indicating highest level since 2008. This growth in home sales was higher than the forecasts.
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Cities such as Columbus (Ohio), San Francisco, Louisville (Ky), Virginia Beach (Va) are registering encouraging growth in wages of over five percent while other cities have only 2.1% growth.
Federal Reserve's Vice Chairman Stanley Fischer stated that although the US has achieved almost full employment, inflation is temporarily low.
On a stiflingly hot summer night, the ancient Greek amphitheatre of Epidaurus is packed to capacity for a performance of a 2,400-year-old play by Aristophanes -- testimony to Greeks' enduring love of theater despite years of grinding economic crisis.
Factory worker Satomi Iwata has new co-workers, a troupe of humanoid automata that are helping to address two of Japan's most pressing concerns - a shortage of labor and a need for growth.
The U.S. economy is growing moderately after a winter swoon and likely strong enough to support an interest rate increase by the end of the year, but concerns remain over the recovery of the labor market, U.S. Federal Reserve officials said on Wednesday.
U.S. job growth was likely solid in May and wages probably picked up a bit, suggesting sufficient momentum in the economy for the Federal Reserve to raise interest rates later this year.
U.S. stocks fell on Thursday, hit by nervousness ahead of Friday's jobs report and lingering uncertainty over a Greece aid deal with creditors.
China's economic growth, already at its slowest in decades, will get worse before it gets better, as economists say it will take time before liberalizing reforms turn net positive, and Beijing needs to bite more such bullets for a sustainable turnaround.
Contracts to buy previously owned U.S. homes rose for a fourth straight month in April to a nine-year high, buoying the outlook for the housing market and the overall economy.
