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U.S. Weekly Jobless Claims Edge Down In Line With Estimates
(RTTNews) - First-time claims for U.S. unemployment benefits edged modestly lower in the week ended June 14th, according to a report released by the Labor Department on Wednesday.
The report said initial jobless claims dipped to 245,000, a decrease of 5,000 from the previous week's revised level of 250,000.
Economists had expected jobless claims to slip to 245,000 from the 248,000 originally reported for the previous week.
Meanwhile, the Labor Department said the less volatile four-week moving average crept up to 245,500, an increase of 4,750 from the previous week's revised average of 240,750.
With the uptick, the four-week moving average reached its highest level since hitting 246,000 in the week ended August 19, 2023.
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U.S. New Home Sales Pull Back More Than Expected In May
A report released by the Commerce Department on Wednesday showed a substantial pullback by new home sales in the U.S. in the month of May. The Commerce Department said new home sales plunged by 13.7 percent to an annual rate of 623,000 in May after spiking by 9.6 percent to a revised rate of 722,000 in April.
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Powell Indicates Federal Reserve Likely To Remain On Hold
Despite intense pressure from President Donald Trump to lower interest rates, Federal Reserve Chair Jerome Powell on Tuesday indicated the central bank is likely to remain on hold. "For the time being, we are well positioned to wait to learn more about the likely course of the economy before considering any adjustments to our policy stance," Powell said.
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Philly Fed Index Unexpectedly Unchanged In June
A report released by the Federal Reserve Bank of Philadelphia on Friday said regional manufacturing activity remained weak in the month of June.
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Fed Leaves Interest Rates Unchanged, Still Signals Two 2025 Rate Cuts
Despite pressure from U.S. President Donald Trump, the Federal Reserve on Wednesday announced its widely expected decision to leave interest rates unchanged.
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U.S. Housing Starts Pull Back Sharply In May
The Commerce Department released a report on Wednesday showing a steep drop by new residential construction in the U.S. in the month of May. The report said housing starts plunged by 9.8 percent to an annual rate of 1.256 million in May after jumping by 2.7 percent to a revised rate of 1.392 million in April.
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U.S. Jobless Claims Pull Back Off Eight-Month High
First-time claims for U.S. unemployment benefits edged modestly lower in the week ended June 14th, according to a report released by the Labor Department on Wednesday. The report said initial jobless claims dipped to 245,000, a decrease of 5,000 from the previous week's revised level of 250,000.
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U.S. Housing Starts Plunge Much More Than Expected In May
The Commerce Department released a report on Wednesday showing a steep drop by new residential construction in the U.S. in the month of May.
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U.S. Homebuilder Confidence Unexpectedly Slips To Five-Year Low In June
Homebuilder confidence in the U.S. has unexpectedly seen a continued deterioration in the month of June, the National Association of Home Builders revealed in a report released on Tuesday.
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