-
While there was a small increase in the number of people filing first-time claims for unemployment insurance, the rise was largely due to annual shutdowns for retooling at car plants. Meanwhile, orders for durable goods rose last month.
-
Analysts said the numbers signaled continued recovery in the jobs market. The news — plus good news on some quarterly earning reports — sent the stock markets soaring in early trading.
-
The increase — of 16,000 claims — may be mostly due to seasonal shutdowns of auto plants, which are retooling.
-
The Labor Department announced Friday that the economy added 195,000 new jobs in June, exceeding expectations. Concerns remain over the fact that many of the jobs being added are for relatively low-paying seasonal work in leisure and hospitality, and the fact that the number of long-term unemployed remains stagnant.
-
There were 195,000 jobs added to payrolls last month, but the unemployment rate was 7.6 percent. That was unchanged from May.
-
When the Labor Department releases June's employment report Friday morning, economists also expect to hear that 165,000 jobs were added to payrolls last month.
-
In advance of Friday's much-anticipated June employment news, three other reports point upward.
-
Gross domestic product expanded at a rate of 1.8 percent in the first quarter, down from the 2.4 percent pace previously reported.
-
It looks like many Americans are feeling better about how the economy is doing. That could translate into more spending, which in turn could help boost job growth.
-
The level, however, remains consistent with moderate job growth.