Economic factors positive overall
Economic factors positive overall
New claims for unemployment benefits were little changed last week, and the trade deficit narrowed marginally in August, indicating a modest improvement in the economy, Reuters reported.
Initial jobless claims fell by 1,000 to 404,000, according to figures released by the U.S. Department of Labor. Economists had expected claims to rise.
Initial claims stayed close to the 400,000 mark, which is usually associated with some improvement in the job market, for the third straight week.
“Three consecutive weeks of claims around 400,000 are somewhat reassuring, as they suggest that layoffs remain contained despite high uncertainty in the economy,” said Guy Berger, senior economist with RBS, in an interview with Reuters.
A separate report from the U.S. Department of Commerce showed that the trade deficit fell to $45.61 billion in August from $45.63 billion the prior month. Economists had expected the gap to widen to $45.8 billion.
The report also showed that the United States’ trade gap with China widened to a record high as imports hit an all-time high of $37.4 billion.
New claims for unemployment benefits were little changed last week, and the trade deficit narrowed marginally in August, indicating a modest improvement in the economy, Reuters reported.
Initial jobless claims fell by 1,000 to 404,000, according to figures released by the U.S. Department of Labor. Economists had expected claims to rise.
Initial claims stayed close to the 400,000 mark, which is usually associated with some improvement in the job market, for the third straight week.
“Three consecutive weeks of claims around 400,000 are somewhat reassuring, as they suggest that layoffs remain contained despite high uncertainty in the economy,” said Guy Berger, senior economist with RBS, in an interview with Reuters.
A separate report from the U.S. Department of Commerce showed that the trade deficit fell to $45.61 billion in August from $45.63 billion the prior month.
Economists had expected the gap to widen to $45.8 billion.
The report also showed that the United States’ trade gap with China widened to a record high as imports hit an all-time high of $37.4 billion.
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