You are here

US jobless claims low ahead of Fed rate meeting

Thursday, December 10, 2015 - 22:28

AngelesFair101215.jpg
The last weekly report on US jobless insurance claims before the Federal Reserve meets on a long-awaited interest rate rise showed a fairly tight labour market Thursday.

[WASHINGTON] The last weekly report on US jobless insurance claims before the Federal Reserve meets on a long-awaited interest rate rise showed a fairly tight labour market Thursday.

The Labour Department said that initial claims for unemployment insurance, a sign of the pace of layoffs, were 282,000 in the week to December 5.

That was 13,000 up from the previous week, but still within the range of the past six months. The four-week moving average was 270,750, compared to 295,000 a year ago.

The data supported other consistent signs of firming in the labour market that the Fed wants to see before raising the benchmark federal funds rate after holding it at zero for seven years.

The Fed meets Tuesday and Wednesday, with markets overwhelmingly expecting a 0.25 per cent hike in the rate.

AFP

sentifi.com

Market voices on:

Nespresso
Pair your daily business read with the perfect cup of espresso.

Subscribe to The Business Times today to receive your very own Nespresso Inissia coffee machine worth $188.

Find out more at btsub.sg/btdeal

Powered by GET.comGetCom