Jobless claims point to steady labor market |
| Reuters - Oct 4, 2012 |
The number of Americans filing new claims for unemployment benefits rose only slightly last week after a big drop the week before, a hopeful sign the job market is still on the mend.
Other data on Thursday showed a sharp drop in new orders for U.S. factory goods, although orders outside the transportation sector rose for a second straight month, which should calm fears of a rapid loss of momentum in factory activity.
"The economy is obviously feeling the strain from cooler global conditions and the policy uncertainty that continues to over hang us here as we turn the corner on 2012 and into 2013," said Robert Dye, chief economist at Comerica in Dallas.
Worries over the so-called fiscal cliff - automatic tax hikes and government spending cuts that will suck about $600 billion out of the U.S. economy next year unless Congress acts - have made businesses cautious about ramping up hiring.
Read Full Article from Reuters
- Posted: 2012-10-04 13:42:48
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