America

Jobless Claims Dip; Orders For Durable Goods Are Soft

The number of first-time claims for jobless benefits dipped slightly last week, to 370,000 from 372,000 the week before, the Employment and Training Administration reports.

The 4-week moving average for claims — which economists say gives a better picture of the trend — was also 370,000, down by 5,500.

Reuters writes that the news suggests "the labor market continues to expand at a moderate pace."

Meanwhile, the Census Bureau says orders for durable goods (equipment and other things designed to last three or more years), rose 0.2 percent in April from March. Though slight, the increase was a rebound after the 3.7 percent drop in March.

But, orders were down 0.6 percent in April if you exclude the transportation sector. And orders for "non-military goods excluding aircraft" fell 1.9 percent, Bloomberg News notes. The news points to "a slowdown in U.S. business investment," Bloomberg adds.

Comments

 

Please keep your community civil. All comments must follow the NPR.org Community rules and terms of use, and will be moderated prior to posting. NPR reserves the right to use the comments we receive, in whole or in part, and to use the commenter's name and location, in any medium. See also the Terms of Use, Privacy Policy and Community FAQ.