US weekly jobless claims at 3-month high; equipment spending resilient

Weekly jobless claims increase 17,000 to 240,000 Continuing claims rise 48,000 to 1,551 million Core capital goods orders rebound 0.7% in October Shipments of core capital goods surge 1.3% WASHINGTON, Nov 23 (Reuters) – The number of Americans filing new claims for jobless benefits increased to a three-month high last week amid rising layoffs in … Read more

Fed’s Powell hopeful inflation can be tamed without pain of Volcker era

Federal Reserve Board Chairman Jerome Powell attends a news conference following a two-day meeting of the Federal Open Market Committee (FOMC) in Washington, US, July 27, 2022. REUTERS/Elizabeth Frantz Register now for FREE unlimited access to Reuters.com register WASHINGTON, Sept 8 (Reuters) – The Federal Reserve is “strongly committed” to fighting inflation, but there remains … Read more

US labor market failures recession fears as job growth surges in July

Nonfarm payrolls increase 528,000 in July Unemployment rate falls to 3.5% from 3.6% in June Average hourly earnings rise 0.5%; up 5.2% year-on-year Participation rate falls to 62.1% from 62.2% in June WASHINGTON, Aug 5 (Reuters) – US job growth unexpectedly accelerated in July, lifting the level of employment above its pre-pandemic level and pouring … Read more

Fed officials beat inflation drum; 50-basis-point rate hike ‘reasonable’ next month

Aug 3 (Reuters) – Federal Reserve officials voiced their determination again on Wednesday to rein in high inflation, although one noted a half-percentage-point hike in the US central bank’s key interest rate next month might be enough to march toward that goal. “I start from the idea that 50 (basis points) would be a reasonable … Read more

US job openings fall to nine-month low; labor market holds tight

Job openings drop 605,000 to 10.7 million in June Retail, wholesale trade account for decline in vacancies Quits little changed at 4.2 million; layoffs decrease WASHINGTON, Aug 2 (Reuters) – US job openings fell by the most in just over two years in June as demand for workers eased in the retail and wholesale trade … Read more

US manufacturing slows modestly; excess inventories a major concern

Manufacturing index dips to 52.8 in July from 53.0 in June New orders contracting, supplier deliveries improving Price increases for slowing inputs; inventories piling up WASHINGTON, Aug 1 (Reuters) – US manufacturing activity slowed less than expected in July and there were signs that supply constraints are easing, with a measure of prices paid for … Read more

GLOBAL ECONOMY Factories squeezed by higher prices, weak demand

Staff work inside a non woven filter fabric factory, where the fabric is used to make surgical face masks, in Taoyuan, Taiwan, March 30, 2020. REUTERS/Ann Wang/File Photo Register now for FREE unlimited access to Reuters.com register WASHINGTON/LONDON, Aug 1 (Reuters) – Factories across the United States, Europe and Asia struggled for momentum in July … Read more