Page 12 - Us Economy
US weekly jobless claims jump amid seasonal volatility, loose labour market
A loosening labour market and ebbing inflation position the Federal Reserve to cut interest rates in September, with financial markets anticipating additional cuts in November and December
 "US weekly jobless claims jump amid seasonal volatility, loose labour market")
Trump's economic plans include proposed tariffs, tax cuts, no taxes on tips
The first night of the Republican National Convention kept its official focus on the economy Monday even after Saturday's shooting at a rally in Pennsylvania in which former President Donald Trump was injured. Speakers argued that Trump would fix inflation and bring back prosperity simply by returning to the White House as president. Virginia Governor Glenn Youngkin lamented, Tonight, America, the land of opportunity, just doesn't feel like that anymore. But Trump has released few hard numbers and no real policy language or legislative blueprints, and most of the speakers Monday didn't get into details either. Instead, his campaign is betting that voters care more about attitude than policy specifics. Trump says he wants tariffs on trade partners and no taxes on tips. He would like to knock the corporate tax rate down a tick. The Republican platform also promises to defeat inflation and quickly bring down all prices, in addition to pumping out more oil, natural gas and coal. The ..
 "Trump's economic plans include proposed tariffs, tax cuts, no taxes on tips")
More good data will strengthen case for interest rate cut: Fed's Powell
A jobs report on Friday showed a still-solid 206,000 jobs added in June, but with a slowing monthly trend and a rising unemployment rate now at 4.1%
 "More good data will strengthen case for interest rate cut: Fed's Powell")
There's no debating who would be better for US economy
Assessing a President's management of the economy is always a tricky business, because many developments will have been set in motion by one's predecessors
 "There's no debating who would be better for US economy")
US job openings up in May; layoffs picked up amid slowing economic activity
Data for April was revised lower to show 7.919 million unfilled positions instead of the previously reported 8.059 million
 "US job openings up in May; layoffs picked up amid slowing economic activity")
US yields decline as inflation data boosts confidence in interest rate cuts
Inflation had rebounded in the first quarter but it has been retrenching over the past few months, along with a slowdown in economic activity
US weekly jobless claims fall, but total recipients highest since 2021
Fewer people applied for unemployment benefits last week but the total number of Americans collecting jobless benefits rose to the highest level in more than two years. The Labor Department reported Thursday that jobless claims for the week ending June 22 fell by 6,000 to 233,000 from 239,000 the previous week. However, the total number of Americans collecting unemployment benefits rose for the eighth straight week, to 1.84 million, for the week of June 15. That's the most since November of 2021. The Federal Reserve raised its benchmark borrowing rate 11 times beginning in March of 2022 in an attempt to extinguish the four-decade high inflation that shook the economy after it rebounded from the COVID-19 recession of 2020. The Fed's intention was to cool off a red-hot labor market and slow wage growth, which can fuel inflation. Many economists had expected the rapid rate hikes would trigger a recession, but that's been avoided so far thanks to strong consumer demand and ...
Fitch ups 2024 world growth forecast to 2.6%; cautions on inflation
However, for 2025, Fitch expects world growth to edge down to 2.4 per cent as US growth slows to a below-trend rate of 1.5 per cent and growth in the Eurozone picks up to 1.5 per cent
 "Fitch ups 2024 world growth forecast to 2.6%; cautions on inflation")
US weekly unemployment claims hit 10-month high; producer prices fall
That was reinforced by other data from the Labor Department on Thursday showing producer prices unexpectedly falling in May
US job gains blow past expectations in May, wage growth accelerates
Nonfarm payrolls increased by 272,000 jobs last month, the Labor Department's Bureau of Labor Statistics said
 "US job gains blow past expectations in May, wage growth accelerates")
US job growth to remain at moderate pace in May, wage gains hold steady
The Labour Department's closely watched employment report on Friday is also expected to show the unemployment rate remained below 4 per cent for the 28th straight month
US factory activity slows for second month in May as new goods orders fall
The Institute for Supply Management's manufacturing purchasing managers index for May fell to 48.7 from 49.2 in April
US inflation increases moderately in April, consumer spending slows
The personal consumption expenditures (PCE) price index increased 0.3% last month, the Commerce Department's Bureau of Economic Analysis said on Friday, matching the unrevised gain in March
 "US inflation increases moderately in April, consumer spending slows")
US economic growth revised lower for Q1; weekly jobless claims edge up
The labor market is steadily rebalancing in the wake of 525 basis points worth of interest rate hikes from the Federal Reserve since March 2022 to slow demand in the overall economy
 "US economic growth revised lower for Q1; weekly jobless claims edge up")
Should you buy gold now? Check key levels here before investing your money
The downside pressure on gold further intensified on Thursday on better-than-expected S&P US Global manufacturing and services PMI data
 "Should you buy gold now? Check key levels here before investing your money")
US unemployment benefits claims fall as labour market continues to thrive
The number of Americans applying for unemployment benefits fell last week as layoffs remained historically low despite the Federal Reserve's efforts to loosen the labor market. Jobless claims for the week ending May 18 fell by 8,000 to 215,000, down from 223,000 the week before, the Labor Department reported Thursday. The four-week average of claims, which softens some of the week-to-week volatility, rose a modest 1,750 to 219,750. Weekly unemployment claims are considered a proxy for the number of U.S. layoffs in a given week and a sign of where the job market is headed. They have remained at historically low levels since millions of jobs were lost when the COVID-19 pandemic hit the U.S. in the spring of 2020. The Federal Reserve raised its benchmark borrowing rate 11 times beginning in March of 2022 in a bid to stifle the four-decade high inflation that took hold after the economy rebounded from the COVID-19 recession of 2020. The Fed's intention was to loosen the labor market an
 "US unemployment benefits claims fall as labour market continues to thrive")
US labour market rebalancing, economy slowing further in second quarter
The labor market is steadily rebalancing in the wake of 525 basis points worth of rate hikes from the U.S. central bank since March 2022 to cool demand in the overall economy
US consumer inflation eases to 0.3% in April; retail sales unchanged
The reports suggested that domestic demand was cooling, which is likely to be welcomed by officials at the U.S. central bank as they try to engineer a "soft-landing" for the economy
 "US consumer inflation eases to 0.3% in April; retail sales unchanged")
US homebuilder sentiment tumbles as high interest rates slow buyer traffic
Spot gold rose 0.4% to $2,367.29 per ounce, as of 1322 GMT. U.S. gold futures rose 0.6% to $2,372.70
 "US homebuilder sentiment tumbles as high interest rates slow buyer traffic")
US homebuilder sentiment tumbles as high interest rates slow buyer traffic
NAHB measures of current sales, sales expectations for the next six months and traffic of potential buyers all fell
 "US homebuilder sentiment tumbles as high interest rates slow buyer traffic")