The number of new claims for unemployment benefits in the US fell more than expected in the week ending September 4th. The number of new claims fell by 27,000 to 451,000 for the week, compared to a predicted decline of only 2,000 from the previous week.
The Federal Reserve has made it clear that growth in the US will remain muted until the employment outlook stabilizes; analysts agree with the outlook.
“We need to see faster job growth in the private sector to really generate a robust recovery,†Russell Price, a senior economist at Ameriprise Financial Inc. in Detroit, said before the report. “It is going to be a very tepid recovery.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