The National  Memo Logo

Smart. Sharp. Funny. Fearless.

Monday, December 09, 2019 {{ new Date().getDay() }}

Washington (AFP) – New claims for U.S. unemployment insurance benefits edged higher last week but still remained close to a seven-year low, the Labor Department said Thursday.

Americans filed 304,000 initial jobless claims in the week ending April 12, an increase of 2,000 from the previous week’s revised level.

Last week’s increase was much smaller than expected, with most analysts estimating 312,000 claims lodged.

Initial claims, an indicator of the pace of layoffs, have been slowly trending lower as the economy recovers from recession. The four-week moving average fell last week by 4,750 to 312,000, the lowest level since early October 2007.

The U.S. unemployment rate was 6.7 percent in March amid moderate job growth over the first three months of the year.

“The low level of initial claims in the week that covers the payroll survey period flags a 200,000-plus payrolls gain in April,” said Sal Guatieri, senior economist at BMO Capital Markets.

The Labor Department reports April job creation and unemployment data on May 2.

©afp.com / Chip Somodevilla

Start your day with National Memo Newsletter

Know first.

The opinions that matter. Delivered to your inbox every morning

US Speaker of the House Nancy Pelosi wants her Democrats to push through trillions of dollars worth of investments in infrastructure and social service programs before a self-imposed deadline of September 30, 2021

Washington (AFP) - House Speaker Nancy Pelosi expressed confidence a massive infrastructure bill will pass this week but acknowledged it would not get a Monday vote as planned, with fellow Democrats warning critical work remains to meet the party's deadlines.

Democrats have been scrambling to hammer out a landmark plan to upgrade the nation's roads and bridges, but are also under immense pressure to finalize a $3.5 trillion public investment package and fund the government to avert a looming shutdown -- all by September 30.

Keep reading... Show less
x
{{ post.roar_specific_data.api_data.analytics }}