U.S. jobs, trade data supports modest economic growth |
| Reuters - Aug 9, 2012 |
The number of Americans filing new claims for jobless benefits unexpectedly fell last week, offering hope that some of last month's improvement in job growth could be sustained and give the economy a lift.
Other data on Thursday showed the deficit on the trade balance in June was the smallest in 1-1/2 years as the petroleum import bill dropped sharply.
While the small trade gap implied upward revisions to the government's estimate of second-quarter gross domestic product published last month, the impact was blunted somewhat by an unexpected drop in wholesale stocks in June.
Initial claims for state unemployment benefits slipped 6,000 to a seasonally adjusted 361,000, the Labor Department said. Economists had expected claims to rise to 370,000 last week.
The data came on the heels of a report last week showing that in July employers hired the most workers in five months.
Read Full Article from Reuters
- Posted: 2012-08-09 15:38:32
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