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Added on the 20/09/2018 08:33:29 - Copyright : Wochit
There are new signs the economy is gaining momentum, including jobless claims hitting a 15-year low, and a rise in wages, despite the caution expressed by the Fed in its most recent statement. Bobbi Rebell reports.
The Labor Department has reported that US jobless claims for the week that ended Saturday totaled 898,000. The numbers came in above the consensus economist estimate of 825,000. According to Business Insider, the reading also marks an increase from the previous week's revised figure. Continuing claims, which track ongoing unemployment benefits, fell to 10 million for the week of October 3. The ongoing benefits numbers came in lower than what economists had forecast. There have been approximately 65 million unemployment-insurance filings since early February.
The city of Phoenix breaks a 49-year-old record with its 19th consecutive day of temperatures of 43.3 Celsius (110 Fahrenheit) or higher according to weather officials. IMAGES
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The US equity indexes closed at record highs on Thursday. Analysts look to the Democrats' victories in the Georgia Senate runoffs as a factor in the surge. Experts say the dual victories in the Georgia Senate runoffs pave the way for sweeping fiscal support in early 2021. The S&P 500 was up 1.5% at 3,803.79. The Dow Jones industrial average closed 212 points higher at 31,041.13, up 0.7%. While the Nasdaq composite saw an uptick of 2.6% at 13,067.48.