U.S. job growth likely cooled a bit in June after reaching a five-month high, but still-healthy hiring would suggest the labor market is strong enough to support a September interest rate increase by the Federal Reserve.
Americans are becoming more apt to quit their jobs, a government report showed on Tuesday, a sign that a stronger labor market and falling unemployment rate could result in healthier wage growth and inflation.
The number of Americans filing new claims for unemployment aid last week rose to its highest level since May, but economists dismissed the increase as weather-related and said the jobs market remained solid.
Federal Reserve policymakers expressed concern last month that raising interest rates too soon could pour cold water on the U.S. economic recovery, and fretted over the impact of dropping "patient" from the central bank's rate guidance.
U.S. wholesale inventories barely rose in December, the latest suggestion that economic growth in the fourth quarter was even slower than initially thought.
U.S. housing starts and permits fell in November, but remained at levels consistent with a gradually improving housing market. Groundbreaking declined 1.6 percent to a seasonally adjusted annual pace of 1.028 million units, the Commerce Department said on Tuesday. October's starts were revised up to a pace of 1.045 million units.
Economists view that the housing recovery is hindered by increasing mortgage rates.
The number of Americans who filed for jobless benefit claims fell to a nearly six year low while US manufacturing activity increased this month.
Subscribe to VCpost newsletter
- How to Protect Yourself from Check Fraud: Tips and Best Practices
- Mobi: Empowering Consumer Product Companies with Real-time Sales Data
- Exploring the Future of Economic Growth: The Top 5 Special Economic Zones to Watch in 2023
- David Tomassoni (Salvaje): How the Hospitality Industry has Rebounded in the Post-Pandemic World
- How Test Automation Tools are Revolutionizing the Software Development Process
- From Shark Tank to Main Street: Kevin Harrington’s New Fintech Platform is Making Investing in Small Businesses Easier Than Ever
- Meet Kelcy Warren: The CEO Behind Energy Transfer
- World TradeX Creates Nft'S And Digital Coins With Intrinsic Value