The unemployment claims report compiled weekly will be released this morning at 10 a.m., showing the number of individuals who filed for unemployment insurance for the first time for the week ending July 18.
U.S. mortgage applications rose despite a jump in borrowing costs last week, but still bounced around the year's lows with unemployment fears depressing demand.
The moribound U.S. job market still
Federal Reserve Chairman Ben Bernanke Tuesday said the outlook for the long-suffering U.S. economy was improving, but supportive policies would be needed for some time to prevent rising unemployment from undercutting recovery.
The U.S. recession's grip on the economy appears to be easing but likely has not yet ended, according to a survey of economists released on Monday.
Second-quarter U.S. gross domestic product figures are likely to be better than the first quarter, showing some signs of improvements in the economy, White House Budget Director Peter Orszag said on Sunday.
Bank of America Inc. posted better than expected second quarter earnings of $3.2 billion on Friday. The bank's CEO, Kenneth Lewis, admitted it will be much tougher to make money in the second half of 2009 after the bank's current profits relied on one-time gains. Lewis anticipates more loan losses as the unemployment rate continues to rise.
The Obama administration's $787 billion stimulus package is working despite rising U.S. unemployment and stabilizing the economy must take precedence over tackling the bloated deficit, a top White House economic adviser said on Friday.
The number of Americans filing for jobless benefits fell to the lowest level since January last week, a decline linked to upheaval in the auto industry, while a key regional manufacturing index slipped more than expected in July, reports showed on Thursday.
The number of U.S. workers filing new claims for jobless benefits fell sharply last week to the lowest level since January, but the seasonally adjusted data was again distorted by an unusual pattern of automotive industry layoffs that amplified the drop.
The number of U.S. workers filing new claims for jobless benefits fell sharply last week to the lowest level since January, but the seasonally adjusted data was again distorted by an unusual pattern of automotive industry layoffs that amplified the drop.
The number of U.S. workers filing new claims for jobless benefits fell sharply last week to the lowest level since January, the government said on Thursday, but the data was distorted by an unusual pattern of automotive industry layoffs that amplified the drop.
The number of U.S. workers filing new claims for state jobless benefits fell sharply latest week to the lowest level since January as many auto layoffs were postponed, the Labor Department said Thursday.
The unemployment claims report compiled weekly will release the number of individuals who filed for unemployment insurance for the first time for the week ending July 11. Initial jobless claims in the July 4 week fell a very steep 52,000 to 565,000 -- the lowest level since the beginning of the year.
U.S. Federal Reserve officials have modified their unemployment rate predictions as they expect the rate to top 10 percent above the previously forecast value of 9.6 percent.
U.S. Federal Reserve officials have modified their unemployment rate predictions as they expect the rate to top 10 percent above the previously forecast value of 9.6 percent. In June the nation's unemployment rate climbed to 9.5 percent, a 26-year high. The latest projections have cast a new shadow of doubt on the timing the economy will take to recover.
A jump in auto and gasoline sales salvaged an otherwise lackluster June for U.S. retailers, while an inflation gauge jumped by twice as much as expected, suggesting a long-awaited economic recovery will be sluggish.
A painfully gradual U.S. recovery should start in the third quarter, even as the job market is still weakening, said an economist with the San Francisco Federal Reserve Bank.
A jump in auto and gasoline sales salvaged an otherwise lackluster June for U.S. retailers, while an inflation gauge jumped by twice as much as expected, suggesting a long-awaited economic recovery will be sluggish.
With U.S. unemployment at a 20-year high, some Americans are working for free while looking for a job, but experts are split over whether it is a sign of dedication or desperation.
Federal Reserve deputy chairman Donald Kohn on Thursday defended the independence of the US central bank and urged Congress to respect the central bank's independence to conduct monetary policy. According to Kohn congressional oversight could hurt the economy and not be in the best interests of financial markets and the public.
The number of U.S. workers filing new claims for jobless benefits fell to the lowest level since January, but the seasonally adjusted data was distorted by an unusual pattern of layoffs in the automotive industry.
