U.S. Economy

U.S. Jobless Claims Tick Up, Still Show Strong Labor Demand, but Mostly for Low Skill Labor

Applications for U.S. unemployment benefits rose slightly last week to a level that’s still consistent with resilient demand for labor.

Initial jobless claims edged up by 2,000 to 232,000 in the week ended May 27, a Labor Department report showed Thursday. The median forecast in a Bloomberg survey of economists called for 235,000 claims.

Data from the Commerce Department earlier this month showed inflation falling below the 5% mark for the first time in two years, with CPI pegged at an annualized rate of 4.9%. The core inflation, which, as we know, strips-out volatile components such as food and energy prices, rose 0.4% on the month and 5.5% on the year, with both readings matching Wall Street forecasts.

Investing Ideas

DigitalOcean: The Little Cloud Stock that Could

Cloud computing is an incredibly important technology to most businesses because it allows them to store data online, host their website, or even develop games and mobile applications.


RBI Warily Eyes Monsoon Impact on Inflation With Policy Hold

The Reserve Bank of India left its key interest rate unchanged for a second meeting and retained its tightening stance, signaling rate-setters want to see inflation moderating further while weaker monsoon risks remain a concern.


Tesla CEO Left Beijing after His Mysterious, Reportedly Gygafactory-Related, Trip

Tesla Inc (TSLA) CEO Elon Musk met with Chinese Vice Premier Ding Xuexiang last week in Beijing.