Sun, 05 Aug 2018 02:46 IST
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Unemployment Claims Climbed Less Than Forecast

New York, August 3 ( – Last week, as annual auto showdowns continued to influence the numbers, jobless claims rose less than the forecast.

The number of Americans filing applications for unemployment benefits 8,000 to 365,000 in the week ended July 28. The main forces which are making business reluctant to hire are US presidential elections and a towering battle over tax cuts and government spending and slowing economies in Europe and China.

Orders for durable goods climbed more than projected in June. Decline in claims have been reported by forty-seven states and territories while five reported an increase.  Taking into consideration the the unemployment rate that is above 8 percent, the Federal Reserve policy makers have decided to take necessary steps to add to the expansion.