Archive for the ‘Labour’ tag
Soaring U.S. Jobless Claims Viewed as Reliable Indicator of Weak Labour Market
Initial claims for unemployment benefits in the
United States soared to 406k in the week ending July 19, the highest
level since March, according to the Department of Labor on Thursday.
Economists said July data has been volatile, but the latest data is a
reliable indicator of weakness in the jobs market.
Higher Jobless Claims Data Indicate Job Market Deterioration, Economists Say
Economists say the higher-than-expected initial jobless
claims reading for the week ending June 21 and four-year high
reached in continuing claims illustrates the continued deterioration of
the U.S. labour market.
“Three straight weeks of claims in the mid-380s is not good news; this
is recession territory,” said Ian Shepherdson, Chief U.S. Economist at
HFE. He noted that claims will move higher over the next few weeks as
the…
The Day Ahead: Cdn Retail Sales; U.S. Senator McCain in Ottawa
At 10:00 a.m. EDT, U.S. mass layoffs data for the month of May will be
released from the U.S. Bureau of Labour of Statistics. There were 133,914
mass layoffs in April.
In the early afternoon, markets will be attentive to comments from
U.S. presidential candidate John McCain speaking in Ottawa on free trade
at the Economic Club of Toronto…