Page 31 - MIN SOC FEB 26,2016

U.S. NEWS A7
Friday 26 February 2016

US Financial Front:

Applications for jobless benefits rise to still-low level

for the past three years, cessions in other develop- items such as cars and
pushing the unemployment ing countries such as Brazil homes. Sales of existing
rate down to an eight-year and Russia. homes ticked up in Janu-
low of 4.9 percent. Wage Consumer spending makes ary to nearly the healthiest
gains are accelerating, up about 70 percent of level in nine years.
but still remain below levels U.S. economic activity and Economists forecast the
consistent with a healthy economists expect it will U.S. economy will expand
economy. help bolster US growth this about 2.3 percent this
KEY DRIVERS: Americans year, even as manufactur- year, similar to the mod-
are shopping and eating ing and exports likely re- est growth that has oc-
out at restaurants, helping main weak. curred during the six-year
to offset drags from China’s Americans are also spend- recovery from the Great
faltering economy and re- ing more on big-ticket Recession.q

A military veteran, at right, talks about employment opportuni-
ties at a job fair for veterans, in Pembroke Pines, Fla. On Thurs-
day, Feb. 25, 2016, the Labor Department reported on the num-
ber of people who applied for unemployment benefits the week
before.

(AP Photo/Lynne Sladky)

C. S. RUGABER lecting benefits has de-
AP Economics Writer clined 4.9 percent in the
WASHINGTON (AP) — More past year to 2.25 million.
people sought U.S. un- THE TAKEAWAY: The figures
employment benefits last indicate that weak over-
week, though the figure seas economies and wild
remained at a low level swings in the stock market
that suggests layoffs aren’t haven’t caused employ-
widespread. ers to cut jobs. Applica-
THE NUMBERS: The Labor tions are a proxy for layoffs,
Department says weekly and have been at histori-
applications rose 10,000 cally low levels for nearly
to a seasonally adjusted a year. Employers appear
272,000. The four-week av- confident enough in future
erage, a less volatile figure, growth to hold onto their
declined 1,250 to 272,000. staffs.
The number of people col- Job gains have been solid

January durable goods orders jump

M. CRUTSINGER items ranging from autos
AP Economics Writer and appliances to steel
WASHINGTON (AP) — Or- and machinery, rose 4.9
ders to U.S. companies for percent last month, the
long-lasting manufactured Commerce Department
goods advanced in Janu- reported Thursday. That
ary at the strongest pace in represented a rebound
10 months. Moreover, a key from a 4.6 percent plunge
category that tracks busi- in December and a 0.5 per-
ness investment surged by cent decline in November.
the largest amount in 19 Demand in a category that
months. serves as a proxy for busi-
The bigger-than-expect- ness investment plans rose
ed gains could be a sign 3.9 percent in January, re-
of better days ahead for versing a 3.7 percent fall in
the nation’s beleaguered December. It was the big-
manufacturers. gest advance in this cat-
Orders for durable goods, egory since June 2014.q