Initial Jobless Claims Rise Unexpectedly, Expectations Rise for QE3
Initial Jobless Claims Rise Unexpectedly, Expectations Rise
for QE3
The US Labor Department reported Thursday that initial claims for jobless benefits rose by 6,000 last week, catching analysts by surprise as most were expecting a slight decline in claims. The news combined with a report that inflation has stalled, offers up plenty of room for the Federal Reserve to launch a much-anticipated third round of quantitative easing to stimulate the economy, which has slowed to a crawl since 2012 began. Last week's total of 386,000 initial jobless filings was higher than even the most pessimistic of economists who took part in a recent Bloomberg survey, projecting claims would drop to 375,000, on average.
US Stock markets made solid advances in Thursday's session, despite the disappointing news, as investors took the news as incentive for the Fed to launch QE3 when it meets early next week, and that sentiment was further bolstered by a separate report from the Labor Department that the cost of living fell 0.3 percent in May thanks to the biggest decline in gasoline prices in three years. Comments from Fed members, particularly Chairman Ben Bernanke, have expressed concern over the nation's tepid pace of economic growth and stubbornly elevated unemployment rate, and Tuesday's reports certainly won't allay those concerns.
The US Labor Department reported Thursday that initial claims for jobless benefits rose by 6,000 last week, catching analysts by surprise as most were expecting a slight decline in claims. The news combined with a report that inflation has stalled, offers up plenty of room for the Federal Reserve to launch a much-anticipated third round of quantitative easing to stimulate the economy, which has slowed to a crawl since 2012 began. Last week's total of 386,000 initial jobless filings was higher than even the most pessimistic of economists who took part in a recent Bloomberg survey, projecting claims would drop to 375,000, on average.
US Stock markets made solid advances in Thursday's session, despite the disappointing news, as investors took the news as incentive for the Fed to launch QE3 when it meets early next week, and that sentiment was further bolstered by a separate report from the Labor Department that the cost of living fell 0.3 percent in May thanks to the biggest decline in gasoline prices in three years. Comments from Fed members, particularly Chairman Ben Bernanke, have expressed concern over the nation's tepid pace of economic growth and stubbornly elevated unemployment rate, and Tuesday's reports certainly won't allay those concerns.
Comments
Top Stories
Latest DT's
-
2 months ago by Geno -
2 months ago by Geno
-
2 months ago by Geno
-
2 months ago by Geno
-
2 months ago by Geno
-
2 months ago by Geno
-
2 months ago by Geno
-
2 months ago by Geno
-
2 months ago by Geno
Top Authors
Subscribe
Games
Alias
3 Foot Ninja 2
ALIAS 2
Air Dodge
Battle Tanks
Bomber Bob
Cable Capers
Gem Mania
Hacker
Hostile Skies
Mission Mars
Bowling
Samurai Warrior
The Pharoh's Tomb
Monkey Lander
Muay Thai
Action
Donkey Kong Banana Barrage
501 Dart Challenge
Rooftop Skater
Zelda
Donkey Kong
Xtreme Pinball
Tetris
Connect 4
Battleships
Frogger
Penguin Push
Online Video Poker
Spank The Monkey
Mob Pay Back
Dealer
Yeti Sports Seal Bounce
Hold Your Drink Steady
Solitaire
Canyon Glider
3D Sudoku
Metal Slug Rampage
Street Fighter II
Flashman
Disc Golf
Table Tennis
Ninja Air Combat
Celebrity Hitman Terrorist Alert
Spider Solitaire
Tubin
Presidential Knockout
Global Player
Ma Balls
Baseball
Beckham Fit
0 Comments
Click here to sign up now.