Jobless claims up; cooler CPI gives Fed more room |
| Reuters - Jun 14, 2012 |
New claims for state jobless benefits rose for the fifth time in six weeks and consumer prices fell in May, opening the door wider for the U.S. Federal Reserve to help an economy that shows signs of weakening.
Though the increase was small, it undermined hopes that a recent slowdown in hiring would prove temporary.
"There is very little sign of life," said Hugh Johnson, chief investment officer of Hugh Johnson Advisors in Albany, New York. "The economy as measured by employment conditions has slowed and there doesn't appear to be any change when you look at the claims numbers."
New claims rose by 6,000 last week, the Labor Department said on Thursday, and have been trending higher since February, which may have marked a turning point for the U.S. economy. Every month since February, employers have cut back on new hiring.
Read Full Article from Reuters
- Posted: 2012-06-14 14:30:50
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