365NEWSX
365NEWSX
Subscribe

Welcome

U.S. weekly jobless claims fall; second-quarter GDP unrevised

U.S. weekly jobless claims fall; second-quarter GDP unrevised

U.S. weekly jobless claims fall; second-quarter GDP unrevised
Sep 29, 2022 1 min, 36 secs

WASHINGTON, Sept 29 (Reuters) - The number of Americans filing new claims for unemployment benefits fell to a five-month low last week as the labor market remains resilient despite rising headwinds from the Federal Reserve's stiff interest rate increases and slowing demand.

The weekly unemployment claims report from the Labor Department on Thursday, the most timely data on the economy's health, also showed jobless rolls shrinking to their lowest level in just over two months in mid-September.

Initial claims for state unemployment benefits decreased 16,000 to a seasonally adjusted 193,000 for the week ended Sept.

Data for the prior week was revised to show 4,000 fewer applications filed than previously reported.

Unadjusted claims declined 12,642 to 156,060 last week.

The claims report showed the number of people receiving benefits after an initial week of aid fell 29,000 to 1.347 million in the week ending Sept.

The so-called continuing claims data, a proxy for hiring, covered the week that the government surveyed households for September's unemployment rate.

The unemployment rate rose to 3.7% in August from 3.5% in July.

The Fed last week raised its median forecast for the unemployment rate this year to 3.8% from its previous projection of 3.7% in June.

As a result, growth in gross domestic income (GDI), which measures economic activity from incomes earned and the costs incurred in the production of GDP was revised sharply down to a rate of 0.1% from the previously reported 1.4% pace.

The average of GDP and GDI, also referred to as gross domestic output and considered a better measure of economic activity, was revised lower to show it falling at a 0.3% rate instead of rising at a 0.4% pace as previously reported.

It declined at a 0.4% rate in the first quarter, revised down from a the previously reported 0.1% growth pace.

The government also revised GDP data from the fourth quarter of 2016 through the end of 2021, which showed the gap between GDP and GDI was only -0.6% of GDP in 2021.


1 Game2Give 2022 – Special TWAB > News - Bungie

Nov 22, 2022 # technology 8 secs

2 Pokémon Scarlet And Violet's Sprigatito Makes Its Debut In The Anime - Nintendo Life

Nov 25, 2022 # technology 1 min, 18 secs

3 Disney Brings Back Robert Iger After Ousting Chapek as C.E.O. - The New York Times

Nov 21, 2022 # politics 1 min, 52 secs

4 ‘Avatar: The Way of Water’ on Track to Open to $150 Million to $175 Million - Variety

Nov 23, 2022 # entertainment 0 secs

5 Two Americas Index: No politics at Thanksgiving, please

Nov 24, 2022 # breaking 27 secs

6 Elon Musk fired dozens more Twitter staff the night before Thanksgiving — days after saying he was done with layoffs - Yahoo Finance

Nov 24, 2022 # politics 27 secs

7 Three MILLION people line NYC streets for Macy's Thanksgiving Day parade - Daily Mail

Nov 24, 2022 # entertainment 2 mins, 22 secs

8 Brooke Shields opens up about controversial Barbara Walters interview - Daily Mail

Nov 22, 2022 # entertainment 2 mins, 46 secs

9 Harry Kane injury scare with England captain set for ankle scan - The Athletic

Nov 22, 2022 # politics 24 secs

10 News | Wilko Johnson Has Died - The Quietus

Nov 23, 2022 # entertainment 40 secs

11 Couple Attacked After Elton John Concert In Dodger Stadium Parking Lot - Deadline

Nov 20, 2022 # entertainment 39 secs

12 'Carry on Wayward Son' will be used regularly by The Elite on AEW TV - Wrestling News

Nov 21, 2022 # entertainment 16 secs

13 New study finds increased risk of diabetes after COVID illness - Yahoo! Voices

Nov 22, 2022 # health 12 secs

14 Videos captured a fireball flashing across the Toronto skyline before it struck Earth near Niagara Falls - Yahoo! Voices

Nov 21, 2022 # science 35 secs

15 Why kids are getting sick with RSV, flu, and flooding ERs - Insider

Nov 21, 2022 # health 1 min, 59 secs

16 China sentences Chinese-Canadian pop star Kris Wu to 13 years for sex crimes - Fox News

Nov 26, 2022 # entertainment 58 secs
SUBSCRIBE

Get monthly updates and free resources.

CONNECT WITH US

© Copyright 2022 365NEWSX - All RIGHTS RESERVED