Tuesday, January 31

Tag: CEN

U.S. labor market remains tight despite technology sector layoffs
Science

U.S. labor market remains tight despite technology sector layoffs

Weekly jobless claims fall 4,000 to 222,000Continuing claims increase 13,000 to 1.507 millionHousing starts drop 4.2% in October; permits fall 2.4%WASHINGTON, Nov 17 (Reuters) - The number of Americans filing new claims for unemployment benefits fell last week, showing widespread layoffs remain low despite a surge in technology-sector job cuts that has raised fears of an imminent recession.The weekly jobless claims report from the Labor Department on Thursday, the most timely data on the economy's health, suggested the labor market remained tight. That, together with solid consumer spending, keeps the Federal Reserve on track to continue raising interest rates, though at a slower pace amid signs inflation was starting to subside."This is a testimony to how tight the labor market remains," ...
Wall Street ends down as investors eye slowing economy
Business

Wall Street ends down as investors eye slowing economy

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 22, 2022. REUTERS/Brendan McDermidRegister now for FREE unlimited access to Reuters.comRegisterU.S. composite PMI at lowest since February 2021Zoom tumbles on weak forecastMacy's shares rise on earnings beatIndexes: S&P 500 -0.22%, Nasdaq flat, Dow -0.47%Aug 23 (Reuters) - Wall Street ended down on Tuesday as investors focused on data showing a slowing economy ahead of a U.S. Federal Reserve gathering later this week in Jackson Hole, Wyoming.The S&P 500 dipped after data showed private-sector business activity in the United States contracted for a second straight month in August, with particular softness in the services sector as demand weakened in the face of inflation and tighter finan...