binance left Coinmarketcap net_left adver left

U.S. weekly jobless claims unchanged; consumer spending rises in November

Thursday, December 23, 2021
U.S. weekly jobless claims unchanged; consumer spending rises in November © Reuters. FILE PHOTO: A job seeker leaves the job fair for airport related employment at Logan International Airport in Boston, Massachusetts, U.S., December 7, 2021. REUTERS/Brian Snyder/File Photo

By Lucia Mutikani

WASHINGTON (Reuters) - The number of Americans filing new claims for unemployment benefits held below pre-pandemic levels last week, while consumer spending increased solidly, putting the economy on track for a strong finish to 2021.

But price pressures continued to build up, with a measure of underlying inflation recording its largest annual increase since 1989 in November. The reports on Thursday came as the nation was struggling with a resurgence in COVID-19 infections, driven by the Delta and highly transmissible Omicron variant, which could crimp economic growth in the first quarter.

"Rising virus cases are a near term risk but overall, we expect growth to pick up in the fourth quarter from a subdued pace in the third quarter," said Rubeela Farooqi, chief U.S. economist at High Frequency Economics in White Plains, New York.

Initial claims for state unemployment benefits were unchanged at a seasonally adjusted 205,000 for the week ended Dec. 18, the Labor Department said. Early this month, claims dropped to a level last seen in 1969.

Economists polled by Reuters had forecast 205,000 applications for the latest week. Claims have declined from a record high of 6.149 million in early April of 2020.

Applications typically increase during the cold weather months, but an acute shortage of workers has disrupted that seasonal pattern, resulting in lower seasonally adjusted claims numbers in recent weeks.

There were sharp declines in unadjusted claims in Missouri and Pennsylvania, which offset an increase in California.

"Looking past that noise, however, we expect claims to remain around 200,000 as layoffs remain low amid tight labor market conditions," said Nancy Vanden Houten, lead U.S. economist at Oxford Economics in New York.

"The spread of the Omicron variant may lend an upside risk to that forecast, but for now, it appears as though businesses are striving to remain open."

The claims data covered the period during which the government surveyed businesses for the nonfarm payrolls portion of December's employment report.

Claims dropped between the November and December survey periods, suggesting a pickup in job growth this month. Labor shortages, however, remain a challenge. There are hopeful signs that unemployed Americans are starting to return to the labor force, but soaring coronavirus infections could be an obstacle.

The number of people continuing to receive benefits after an initial week of aid fell 8,000 to 1.859 million in the week ended Dec. 11. That was the lowest level for the so-called continuing claims since mid-March of 2020.

SERVICES BUOY SPENDING

The labor market is tightening, with the unemployment rate at a 21-month low 4.2%. There were a record 11.0 million job openings at the end of October.

Higher wages as companies scramble for scarce workers are helping to underpin consumer spending.

A separate report from the Commerce Department on Thursday showed consumer spending, which accounts for more than two-thirds of U.S. economic activity, rose 0.6% last month. Consumer spending shot up 1.4% in October.

Services surged 0.9%, accounting for nearly all the gain in spending last month. The broad increase in services was led by housing and utilities.

Spending on goods edged up 0.1% as outlays on long-lasting manufactured goods like motor vehicles fell 0.6% reflecting shortages. Spending on goods was also weaker after Americans started their holiday shopping early to avoid empty shelves.

The scarcity of goods is hampering business spending on equipment. A third report from the Commerce Department showed orders for non-defense capital goods excluding aircraft, a closely watched proxy for business spending plans, dipped 0.1% last month. These so-called core capital goods orders jumped 0.9% in October.

Inflation accelerated in November. The personal consumption expenditures (PCE) price index, excluding the volatile food and energy components, rose 0.5% after a similar gain in October.

In the 12 months through November, the so-called core PCE price index accelerated 4.7%. That was the largest increase since February 1989 and followed a 4.2% year-on-year advance in October.

When adjusted for inflation, consumer spending was flat after increasing 0.7% in October. Despite the unchanged so-called real consumer spending last month, economic growth is expected to have accelerated in the fourth quarter.

Growth forecasts for the fourth quarter are as high as a 7.2% annualized rate. The economy grew at a 2.3% pace in the third quarter. It is expected to grow 5.6% this year, which would be the fastest since 1984, according to a Reuters survey of economists. The economy contracted 3.4% in 2020.

But the outlook for next year is cloudy. COVID-19 infections are soaring and President Joe Biden's signature $1.75 trillion domestic investment bill known as Build Back Better, which aims to expand the social safety net and tackle climate change, suffered a blow on Sunday when moderate Democrat Senator Joe Manchin said he would not support it. That prompted economists to slash their growth estimates for next year.

Leave your comment
ig right nyse right Neteller adver right
APPROVED BROKERS
rakuten_main right top net_home_top ig_main right top Binance _ main right top fbs_main right top tifia_main right top
24-01-2022 05:43:29 (UTC+7)

EUR/USD

1.1321

-0.0019 (-0.17%)

Summary

Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (0)

Sell (5)

EUR/USD

1.1321

-0.0019 (-0.17%)

Summary

Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (0)

Sell (5)

GBP/USD

1.3497

-0.0057 (-0.42%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (7)

USD/JPY

113.63

-0.06 (-0.05%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (7)

Sell (1)

AUD/USD

0.7132

-0.0050 (-0.70%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (10)

USD/CAD

1.2615

+0.0034 (+0.27%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (2)

EUR/JPY

128.63

-0.28 (-0.22%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (6)

Sell (2)

EUR/CHF

1.0321

-0.0012 (-0.12%)

Summary

Neutral

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (2)

Sell (2)

Gold Futures

1,838.70

+6.90 (+0.38%)

Summary

Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (5)

Silver Futures

24.075

-0.245 (-1.01%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (1)

Sell (7)

Copper Futures

4.4410

-0.0830 (-1.83%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

Crude Oil WTI Futures

84.59

-0.55 (-0.65%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

Brent Oil Futures

86.59

-0.49 (-0.56%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (8)

Natural Gas Futures

3.718

-0.064 (-1.69%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (7)

US Coffee C Futures

234.63

-3.27 (-1.37%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (7)

Sell (1)

Euro Stoxx 50

4,130.95

-98.61 (-2.33%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

S&P 500

4,397.93

-84.80 (-1.89%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

DAX

15,276.65

-327.23 (-2.10%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (6)

FTSE 100

7,394.10

-100.03 (-1.33%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

Hang Seng

24,656.46

-309.09 (-1.24%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (5)

Sell (1)

US Small Cap 2000

1,987.92

-36.12 (-1.78%)

Summary

Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (5)

Sell (3)

IBEX 35

8,504.93

-189.77 (-2.18%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (5)

BASF SE NA O.N.

64.960

-1.220 (-1.84%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

Bayer AG NA

50.83

-0.79 (-1.53%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (6)

Allianz SE VNA O.N.

218.60

-3.10 (-1.40%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

Adidas AG

244.20

-6.40 (-2.55%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (10)

Deutsche Lufthansa AG

6.675

-0.234 (-3.39%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

Siemens AG Class N

141.58

-2.94 (-2.03%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (7)

Deutsche Bank AG

11.060

-0.418 (-3.64%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (7)

 EUR/USD1.1321Sell
 GBP/USD1.3497↑ Sell
 USD/JPY113.63↑ Buy
 AUD/USD0.7132↑ Sell
 USD/CAD1.2615↑ Buy
 EUR/JPY128.63↑ Buy
 EUR/CHF1.0321Neutral
 Gold1,838.70Sell
 Silver24.075↑ Sell
 Copper4.4410↑ Sell
 Crude Oil WTI84.59↑ Sell
 Brent Oil86.59↑ Sell
 Natural Gas3.718↑ Sell
 US Coffee C234.63Buy
 Euro Stoxx 504,130.95↑ Sell
 S&P 5004,397.93↑ Sell
 DAX15,276.65↑ Sell
 FTSE 1007,394.10↑ Sell
 Hang Seng24,656.46↑ Buy
 Small Cap 20001,987.92Buy
 IBEX 358,504.93↑ Sell
 BASF64.960↑ Sell
 Bayer50.83↑ Sell
 Allianz218.60↑ Sell
 Adidas244.20↑ Sell
 Lufthansa6.675↑ Sell
 Siemens AG141.58↑ Sell
 Deutsche Bank AG11.060↑ Sell
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,170/ 6,210
(50/ 50) # 1,158
SJC HCM6,150/ 6,210
(27/ 17) # 1,157
SJC Hanoi6,150/ 6,212
(27/ 17) # 1,159
SJC Danang6,150/ 6,212
(27/ 17) # 1,159
SJC Nhatrang6,150/ 6,212
(27/ 17) # 1,159
SJC Cantho6,150/ 6,212
(27/ 17) # 1,159
Cập nhật 24-01-2022 05:43:32
Xem lịch sử giá vàng SJC: nhấn đây!
ↀ Giá vàng thế giới
$1,838.21+3.570.19%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-IV2486025350
RON 95-II,III
E5 RON 92-II2359024060
DO 0.05S1890019270
DO 0,001S-V1925019630
Dầu hỏa1779018140
ↂ Giá dầu thô thế giới
WTI$84.53+1.091.27%
Brent$86.83+1.061.21%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD22.500,0022.810,00
EUR25.000,4426.401,93
GBP29.901,5831.178,49
JPY193,25204,57
KRW16,4019,98
Cập nhật lúc 17:36:09 24/01/2022
Xem bảng tỷ giá hối đoái
binance main right Fxpro Main Right aetos main right adver main right