The unemployment rate increased to 3.7% as workers rejoined the labor force. … READ MORE >
Economics
Initial jobless claims inch up, yet labor market remains tight
Initial jobless claims inched up by 2,000 last week to 232,000, slightly lower than expectations, according to the Labor Department on Thursday. … READ MORE >
Job openings exceed 10 million as labor market imbalance widens
With 10.1 million job vacancies in April, the openings-to-unemployed ratio—a proxy for labor demand and supply mismatches—surged to 1.79 from 1.64 previously. … READ MORE >
RSM US Manufacturing Outlook Index: Downturn continues
The combination of monetary policy tightening and geopolitical pressures on energy prices and demand has taken its toll on the U.S. manufacturing sector. … READ MORE >
Consumer confidence falls to six-month low
The top-line confidence level fell to 102.3 from an upwardly revised 103.7, the Conference Board reported on Tuesday. … READ MORE >
The debt ceiling agreement and the financial health of the U.S.
The agreement’s impact on economic growth will most likely be negligible and will bring modest growth in overall spending over the next two years. … READ MORE >
Jobless claims edge up but fraud spurs big downward revisions
New filings for jobless benefits increased slightly by 4,000 last week, but the more noteworthy change was a significant downward revision in the previous two reports from the Labor Department. … READ MORE >
Fitch puts U.S. on ratings watch negative
It is time for the Federal Reserve to act pre-emptively to ensure well-functioning financial markets and signal to global market participants that the bond rating on U.S. Treasuries will remain unchanged. … READ MORE >
RSM US Financial Conditions Index: Debt ceiling standoff to cause volatility
As of Friday, our composite RSM US Financial Conditions Index remained at 0.9 standard deviations below neutral, corresponding to higher levels of risk than would normally be priced into securities. … READ MORE >
Jobless claims drop as fraud claims are resolved
New filings for jobless benefits fell last week to 242,000 from 264,000, a sharp 8.3% drop, in part because of the resolution of fraudulent claims in Massachusetts. … READ MORE >