Page 7 - ARUBA TODAY 29August2015

U.S. NEWS A7
Saturday 29 August 2015

US Financial Front:

Applications for jobless aid drop to very low 271,000

C. S. RUGABER aid dropped 6,000 to a sea- lowest since April 15, 2000.
AP Economics Writer sonally adjusted 271,000. The applications data will
WASHINGTON (AP) — Few- The four-week average, likely be closely watched in
er people sought U.S. un- a less volatile measure, the coming weeks for any
employment benefits last ticked up 1,000 to 272,500. sign that companies are
week, evidence that em- Applications are a proxy cutting jobs in the wake
ployers remain confident in for layoffs and are at his- of the past week’s stock
the economy and are lay- torically low levels, suggest- market volatility and glob-
ing off few workers. ing businesses are holding al economic turmoil. For
The Labor Department said onto their staffs. Earlier this now, the data suggests hir-
Thursday that weekly appli- month, the four-week aver- ing has remained solid this
cations for unemployment age stood at 266,000, the month. q

Job seeker Wedens Raymond, of Fort Lauderdale, Fla., fills out
a job application at a job fair in Sunrise, Fla. Fewer people
sought U.S. unemployment benefits last week, evidence that
employers remain confident in the economy and are laying off
few workers.

(AP Photo/Alan Diaz)

US pending home sales
rose modestly over July

JOSH BOAK “The pending sales index
AP Economics Writer has stalled, at least for
WASHINGTON (AP) — now,” said Ian Shepherd-
Slightly more Americans son, chief economist at
signed contracts to buy Pantheon Macroeconom-
homes in July, as pending ics. “This very strongly sug-
sales edged up after dip- gests that the recent run of
ping in June. big gains in existing home
The National Association sales is over, with August
of Realtors said Thursday sales more likely to fall than
that its seasonally adjusted rise.”
pending home sales index Pending sales are a barom-
rose 0.5 percent to 110.9 eter of future purchases. A
last month. This marks a lag of a month or two usu-
slight recovery from June, ally exists between a con-
when the index fell to 110.4 tract and a completed
after reaching 112.3 in May, sale.
a level last seen in 2006. Completed sales of existing
Steady job growth coupled homes increased 2 percent
with low mortgage rates in July to a seasonally ad-
has improved home sales justed annual rate of 5.59
this year. As the recovery million, the fastest pace
from the Great Recession in eight-and-a-half years,
enters its seventh year, the Realtors said last week.
more Americans have But the market has also
rebuilt their savings, in- revealed a mismatch be-
creased their home equity tween rising demand and
and returned to the real es- limited supplies of homes
tate market. on the market.
The modest increase in the Sales have increased 9.6
index last month indicates percent over the past 12
that sales may soon be months, while the number
peaking after surging this of listings has declined 4.7
year. percent.q