Page 16 - Us Economy

US jobless applications fall to lowest level since September 2022

The number of Americans applying for unemployment benefits last week fell to its lowest level in more than a year, underscoring the resilience of the labour market despite elevated interest rates that are intended to cool the economy. Jobless claim applications fell to 187,000 for the week ending January 13, a decrease of 16,000 from the previous week, the Labor Department reported Thursday. That's the fewest since September of 2022. The four-week average of claims, a less volatile reading, fell by 4,750 to 203,250. That's the lowest four-week average in almost a year. Overall, 1.81 million Americans were collecting jobless benefits during the week that ended Jan. 6, a decline of 26,000 from the previous week. Weekly unemployment claims are viewed as representative for the number of US layoffs in a given week. They have remained at extraordinarily low levels despite high interest rates and elevated inflation.

US industrial production edges up to close out consistent sluggish year

The 0.1% advance in production at factories, mines and utilities followed no change a month earlier, Federal Reserve data showed Wednesday

US homebuilder confidence spiked most in January since February 2023

The National Association of Homebuilders/Wells Fargo index of builder confidence rose this month to 44, the highest since September, from an unrevised 37 in December

US energy tax credit trading grows to as much as $9 bn, show study

This market has scaled faster than anyone anticipated, said Crux CEO and co-founder Alfred Johnson, a former Treasury Department staffer

US consumer prices up more than expected in Dec, weekly jobless claims fall

The consumer price index (CPI) rose 0.3% last month after nudging up 0.1% in November, the Labor Department's Bureau of Labor Statistics said on Thursday

US trade deficit narrows in Nov due to decline in imports: Report

The trade deficit contracted 2.0% to $63.2 billion, then Commerce Department's Census Bureau said

US job growth surpass expectations in December; wages rise solidly

Average hourly earnings rose 0.4% in December after gaining 0.4% in the prior month. That raised the year-on-year increase in wages to 4.1% from 4.0% in November

Weekly US jobless claims at 2-month low; labour market gradually easing

The government reported on Wednesday that job openings fell to near a three-year low in November. Labor market strength is expected to again shield the economy from recession this year

Mainstream economics' medieval inflation cure

In modern medicine, specific diagnosis leads to specific treatment, but mainstream economists hark back to the medieval approach, attributing all diseases to a common cause

Rupee ends lower due to high dollar demand from oil firms, US data awaited

The Indian rupee declined on Thursday as dollar demand from local oil companies weighed on the local unit, while traders awaited GDP and labour market data from the United States

Don't rush to join Fed pivot: IMF chief Georgieva to central banks

She indicated that her advice applied to the case of the Bank of Korea, after she met with Governor Rhee Chang-yong

Nifty IT logs biggest two-day gain since July 2020; Sensex soars past 71K

Bellwether stocks Tata Consultancy Services, Infosys, and HCL Technologies each witnessed a 5 per cent jump on Friday, accounting for over half of the market gains

Wall Street traders go all-in on great monetary pivot of this year

"This is a massive paradigm shift on Wall Street, with the most aggressive rate-hiking cycle in decades coming to an end," said Adam Sarhan, founder of 50 Park Investments

US economy still strong as retail sales beat expectations, layoffs stay low

Retail sales increased 4.1% year-on-year in November. Though the pace has slowed as households adjust to higher borrowing costs and prices, it remains sufficient to ward off a recession

US Fed holds policy rate in 5.25%-5.50% range, sees 75 bps cut next year

Fed's 'soft landing' scenario still on the table

Biden's 2024 dilemma: US economy looks solid, voters still not feeling it

President Joe Biden goes into next year's election with a vexing challenge: Just as the US economy is getting stronger, people are still feeling horrible about it. Pollsters and economists say there has never been as wide a gap between the underlying health of the economy and public perception. The divergence could be a decisive factor in whether the Democrat secures a second term next year. Republicans are seizing on the dissatisfaction to skewer Biden, while the White House is finding less success as it tries to highlight economic progress. Things are getting better and people think things are going to get worse and that's the most dangerous piece of this," said Democratic pollster Celinda Lake, who has worked with Biden. Lake said voters no longer want to just see inflation rates fall rather, they want an outright decline in prices, something that last happened on a large scale during the Great Depression. Honestly, I'm kind of mystified by it, she said. By many measures, the

The journey of Nifty: From 11000 to 21000 in a span of six years

Following the sharp rise in the markets, most positives have been priced in, say experts

Indian IT battles slowdown in US, hiring to be muted for next 2-3 quarters

This implies that hiring will be in the slow lane even in the first quarter of FY25

Fed to move 'carefully' on rates, 'soft landing' taking shape: Powell

Powell and Fed Governor Lisa Cook, who earned her bachelor's degree at Spelman College, were scheduled to participate in a roundtable discussion with local entrepreneurs later on Friday

Growth slows down in three of five advanced economies; US, UK exceptions

China, Japan, Germany showed weaker rate; for UK, it remained the same