Page 16 - MIN SOC 13 NOV 2015
P. 16
U.S. NEWS A7
Friday 13 November 2015
US Financial Front:
Applications for US jobless aid stay near historic lows
C. S. RUGABER electronics, and restaurant Students attend The Foot in the Door Career Fair at the University of Illinois in Springfield, Ill. The
AP Economics Writer meals at a healthy rate,
WASHINGTON (AP) — The supporting a pickup in hir- Labor Department said Thursday, Nov. 12, 2015, that weekly applications for jobless benefits
number of people seeking ing last month.
unemployment aid was un- Hiring is typically healthy remained at a seasonally adjusted 276,000, the same as the previous week. The four-week
changed last week, a sign when applications are
that most businesses are so low. Employers added average, a less volatile measure, rose 5,000 to 267,750. (AP Photo/Seth Perlman)
reluctant to cut jobs. 271,000 jobs in October,
The Labor Department said the government said last
Thursday that weekly appli- week, the largest month-
cations for jobless benefits ly gain this year. The un-
remained at a seasonally employment rate ticked
adjusted 276,000, the same down to 5 percent from
as the previous week. The 5.1 percent, a fresh seven-
four-week average, a year low.
less volatile measure, rose There have also been signs
5,000 to 267,750. that average pay is finally
Applications are a proxy picking up after roughly six
for layoffs. Just three weeks years of sluggish growth.
ago, the average dropped Average hourly wages
to its lowest level since De- rose 2.5 percent in Octo-
cember 1973. That sug- ber from a year earlier, the
gests employers are con- largest annual gain since
fident the economy will 2009.
continue to expand and Still, that remains below the
see little reason to let go of 3.5 percent pace that is
their staffs. typical in a healthy econ-
After stumbling in the July- omy. October’s job gain
September quarter under came after two months of
the weight of slowing over- tepid hiring in August and
seas growth and a strong September. Still, employers
dollar, the U.S. economy have added an average
is forecast to rebound in of 206,000 jobs a month
the final three months of this year. That’s enough to
this year. Americans are lower the unemployment
still spending on autos, rate over time.q
US government records $136.5B
October budget deficit: Officials
MARTIN CRUTSINGER ments into October, up
AP Economics Writer from last year’s $41 billion
WASHINGTON (AP) — The payment shift.
U.S. government started For the 2015 budget year
its new budget year with that ended Sept. 30, the
a deficit in October, al- annual deficit fell to $438.9
though the imbalance was billion, its lowest level in
made worse by a calendar eight years, spurred by
quirk. The October deficit gains in tax revenue that
totaled $136.5 billion, up outpaced greater govern-
12.2 percent from October ment spending.
2014, the Treasury Depart- The Congressional Budget
ment reported Thursday. Office in August forecast
In both years, Nov. 1 fell that the 2016 deficit will
on a weekend, which re- drop to $414 billion and
quired the government to edge up slightly to $416
mail out November benefit billion in 2017, which will
checks in October. That be the next president’s first
shifted $49 billion in pay- year in office.q
