Americans Are Either Out

New claims for unemployment benefits were unchanged last week, according to government data on Thursday that will do little to ease concerns about a recent slowdown in jobs growth. Initial claims for state unemployment benefits held steady at a seasonally adjusted 370,000, the Labor Department said. The prior week's figure was revised up to 370,000 from the previously reported 367,000. Economists polled by Reuters had forecast claims falling to 365,000 last week. The four-week moving average for new claims, considered a better measure of labor market trends, fell 4,750 to 375,000. The data comes on the heels of three straight months of slowing employment gains. Companies added 115,000 new jobs to their payrolls in April, the fewest in six months. Thursday's report on claims covered ...

The number of Americans submitting new applications for jobless benefits edged down last week, easing concerns the labor market was deteriorating after April's weak employment growth. While the claims data indicated the economy remained on a moderate growth path, a report from the Commerce Department showing a widening in the trade deficit in March suggested economic growth was much slower in the first quarter than initially believed. New claims for state unemployment benefits slipped 1,000 to a seasonally adjusted 367,000, the Labor Department said on Thursday. The prior week's figure was revised up to 368,000 from the previously reported 365,000. Economists polled by Reuters had forecast claims inching up to 369,000 last week. The four-week moving average for new claims, considered a ...

(Reuters) - The euro zone economy worsened markedly last month and U.S. employers cut back on hiring, according to two reports on Friday that dampened hopes for gradual recovery on either side of the Atlantic. In Europe, the purchasing managers indexes (PMIs), which primarily cover services, suggested a recession across the continent's currency union could now extend to mid-year and be deeper than previously thought. The gloomy surveys clashed with the picture painted by European Central Bank President Mario Draghi, who on Thursday spoke of a gradual recovery taking place in the euro zone during the course of the year - although he did speak about risks. In the United States, a government report showed employers added a disappointing 115,000 workers to payrolls last month and, ...

Fundamental Analysis EUR "The grim unemployment figures for March will likely encourage talk about a long overdue ‘growth pact’ for the euro zone" - Martin van Vliet, an economist at ING Group Euro area unemployment rose to the highest level since 1997 in March and manufacturing contracted in April, adding to signs the economy is still far from out of the woods. USD "Employment growth is slowing" - David Sloan, an economist at 4Cast Inc. The number of Americans, who have found a job in the private sector fell to 119,000 in April from a revised 201,000 in March, the ADP Employer Services said on Wednesday. GBP " points to clear, decent construction expansion in April" - Howard Archer, chief UK economist at IHS Global Insight U.K. construction sector expanded slower in April, compared ...

Fundamental Analysis EUR Unemployment in Spain approached a new record of 5.64 million in March while the jobless rate topped 24.4%, reported the national statistics office. Analysts expect the Spain's officials to confirm that the country is falling into recession. Meanwhile, retail sales in the country declined by 3.7% in March on an annual basis. USD US consumer spending surged in March, adding to the previous gains as incomes increased. Household purchases that account about 70% of the US economy surged by 0.3%, following a 0.9% increase in February. Experts projected consumer spending to rise by 0.4%. Meanwhile, incomes eased up 0.4%, indicating the largest increase in the last three months. GBP UK home value accelerated in April, the second straight month, Hometrack Ltd said on ...

(Reuters) - Brent crude oil gained on Thursday, bouncing from a two-month low set the previous session, as a Spanish bond auction attracted strong investor demand, alleviating some concerns about the health of the euro zone economy. Spain's Treasury issued 2.5 billion euros ($3.3 billion) in two- and 10-year bonds on Thursday at the top end of the targeted amount, although yields ticked higher than at the previous January auction. Brent June crude gained 93 cents to $118.90 a barrel at 9:52 a.m. EDT (1352 GMT) after hitting $116.70 in the previous session, its lowest in more than two months. May crude fell 6 cents to $102.61, after falling more than a dollar in the previous session. The May contract expires on Friday. Some investors saw recent sharp falls as a good buying opportunity. ...

(Reuters) - Gary Feeman has been searching for a job for 16 months. He's not ready to give up just yet, but the 60-year-old worries he is running out of options. Feeman is among the more than 5 million Americans who have been out of work for more than six months and who represent the heart of the crisis in the labor market. Their plight also poses a warning that U.S. unemployment may not drop back to its pre-recession levels and could be stuck higher than many policymakers expect. Feeman, from Lancaster County, Pennsylvania, has sent out as many as 100 resumes. But the former maintenance director at a small amusement park in the area, has had only one interview in person. That was in January. "I have tried everything under the sun," he said. "The frustrating thing to me is that when ...

(Reuters) - The U.S. economy likely notched up a fourth month of solid job growth in March, which would lower the need for the Federal Reserve to offer additional monetary stimulus to spur faster economic growth. Businesses outside the farm sector are expected to have added 203,000 jobs last month, according to a Reuters survey, after nonfarm payrolls rose 227,000 in February. The unemployment rate is seen holding at a three-year low of 8.3 percent for a third straight month. That would mark the longest stretch of nonfarm employment gains topping 200,000 since 1999. The Labor Department will release its closely watched employment report on Friday at 8:30 a.m. EST (1230 GMT). The employment report will come on the heels of minutes of the U.S. central bank's March meeting which showed ...

Brent crude fell for a second session on Wednesday, breaching $125, on the possibility of a release of strategic oil reserves by the United States even after crude stockpiles in the world's largest oil user rose more than expected last week. Oil remained supported by supply concerns on rising tensions between Iran and the West, production problems in the North Sea and bombing in South Sudan. Brent May crude had fallen 74 cents to $124.80 a barrel by 0644 GMT. U.S. crude was down 80 cents to $106.53. "Markets have arrived at a level where they probably need to see evidence of better economic growth and demand before they take things higher," said Ric Spooner, Sydney-based chief market analyst at CMC Markets. "Tonight's numbers on U.S. oil inventories will be another piece of the jigsaw." ...