Via Reuters on Jobs: Jobless claims unexpectedly fall
The number of Americans seeking initial jobless compensation unexpectedly fell 6,000 last week to 310,000, its lowest level in more than two months, the government said on Thursday.First-time claims for state unemployment insurance, an early reading on the resilience of the job market, fell for the second straight week, slipping to 310,000 in the week ended June 25 from a revised 316,000 in the previous week, the Labor Department said.
Also, 1Q GDP was revised upward:
Robust new-home building and stronger exports helped the U.S. economy expand at a faster-than-expected 3.8 percent annual rate in the first quarter, the Commerce Department said on Wednesday.The final figure topped Wall Street economists’ forecasts for a 3.7 percent growth rate and added to expectations that the U.S. central bank will again raise short-term interest rates this week. A key inflation gauge in the report was revised a bit lower, and is expected to allow the Fed to continue what it calls a “measured” pace of rate increases.
This marks the second time gross domestic product — the broadest measure of total economic activity within U.S. borders — has been revised higher for the first quarter and now it matches the rate posted in the closing quarter of 2024.
