U.S. Unemployment Down To Lowest Level In 5-Year. The number of Americans who filed first-time claims for unemployment
benefits fell more than expected last week to the lowest level in five
years, it showed further improvement in the labor market.
The number of applications for unemployment benefits dropped by 37.000
to 335,000 in the week ended on January 12, this is the lowest level
since the period ended January 19, 2008, the data in the report by the
Labor Department today. Previously, economists expect that number will
reach 369,000 claims. The data is taken on the terms of the average
forecast in a Bloomberg survey. A spokesman for the agency said the
figures were likely to reverse the doubts that showed claims data
typically increases in early January.
"I do not expect layoffs will be the biggest part of the story of the labor market in 2013," Kurt Rankin, an economist at PNC Financial Services Group Inc.. Pittsburg who said before the data release. At the same time, "without the soaring levels of consumer spending, we would not have seen the growth of the labor market."
"I do not expect layoffs will be the biggest part of the story of the labor market in 2013," Kurt Rankin, an economist at PNC Financial Services Group Inc.. Pittsburg who said before the data release. At the same time, "without the soaring levels of consumer spending, we would not have seen the growth of the labor market."
Gold Back Distressed
Gold slumped in the New York session after a series of U.S. data confirm the continued recovery of the U.S. economy, thereby reducing the appeal of gold as an investment instrument. U.S. jobless claims fall, increasing the number of establishments and housing permits increased. Investors are worried that the U.S. economic recovery momentum continues then the Fed can withdraw monetary stimulus more quickly than anticipated. Minutes of the Fed's last show of the desire to withdraw stimulus at the end of 2013. Gold is now trading 1674.50, 1683.80 away from the daily high level.
Gold slumped in the New York session after a series of U.S. data confirm the continued recovery of the U.S. economy, thereby reducing the appeal of gold as an investment instrument. U.S. jobless claims fall, increasing the number of establishments and housing permits increased. Investors are worried that the U.S. economic recovery momentum continues then the Fed can withdraw monetary stimulus more quickly than anticipated. Minutes of the Fed's last show of the desire to withdraw stimulus at the end of 2013. Gold is now trading 1674.50, 1683.80 away from the daily high level.
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