Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Market
U.S. Jobless Claims Fall In Latest Report
WASHINGTON (9/6/13)--Initial claims for U.S. unemployment benefits declined last week--hitting a five-and-a-half-year low--an indication the labor market is slowly healing as job layoffs continue to abate (MarketWatch, Bloomberg.com  and Moody's Economy.com Sept. 5).
 
Claims fell 9,000--to 323,000--for the week ended Aug. 31, the lowest level since 2007, the Labor Department said Thursday.
 
Meanwhile, continuing claims for unemployment benefits dropped 43,000--to 2.951 million--for the week ended Aug. 24.
 
Because employers are slowing the pace of job cuts, the labor market is being readied for hiring increases to meet any growth in demand, with the effects of higher payroll taxes and federal budget cuts dissipating, Bloomberg said.
 
Rising personal incomes and employment growth will help uphold consumer spending--which constitutes 70% of the U.S. economy, Bloomberg added.  
 
Although there has been substantial progress in claims reduction, more progress is needed with the hiring side of the equation, Yelena Shulyatyeva, an economist at BNP Paribas in New York, told Bloomberg.
Other Resources

CUNA National Economic Data
RSS





print
News Now LiveWire
Power hour: Royal #creditunion volunteers make 60 minutes count http://t.co/Qm3iQUO3oh
16 minutes ago
#NewsNow LinkedIn group a new home for bank-to-CU employees http://t.co/24bNaDd1YN
51 minutes ago
Effective March 1, @MasterCard will allow its U.S.-issued cards to be used in Cuba http://t.co/mg6puyGWe7
59 minutes ago
Using #ApplePay at the register? What if you were asked to show photo ID? Lawmaker considers it http://t.co/EwIu2iM1Rd @pymnts
1 hour ago
.@TheNCUA's #RBC2 will be published in tomorrow's (1/27) @FedRegister, which will start the proposal's 90-day comment period.
1 hour ago