Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Market
U.S. Jobless Claims Dip To Five-year Low
WASHINGTON (8/23/13)--Initial claims for U.S. unemployment benefits rose last week, but fell to a five-year low for the month ended Aug. 17, the Labor Department said Thursday.
 
Initial claims, a proxy for layoffs, increased 13,000--to a seasonally adjusted 336,000--for the week ended Aug. 17. However, claims in the month ended Aug. 17 dropped to 330,500 a week on average--the lowest amount since November 2007, said the Labor Department (Bloomberg.com, The Wall Street Journal, The New York Times and Moody's Economy.com  Aug. 22).  
 
Job cuts are diminishing because employers are retaining employees to meet sales demand, which could be a forerunner to larger payroll gains once the effects of higher payroll taxes and federal budget cuts wane in the second half of the year, Bloomberg said.
 
Employment growth combined with escalating incomes will help bolster consumer confidence and spending--which comprises roughly 70% of the U.S. economy, Bloomberg added.
 
Meanwhile, continuing claims for unemployment benefits rose 29,000--to three million in the week ended Aug. 10.
Other Resources

CUNA National Economic Data
RSS print
News Now LiveWire
Reminder: @TheNCUA's Listening Session tomorrow in Chicago. Capacity crowd expected for meeting at 1 p.m. CT. http://t.co/FYYuoHCdVJ
10 hours ago
Mortgage apps up 1.9% in @MBAMortgage's weekly survey http://t.co/QBzKWdnRkH
11 hours ago
Manage your household budget with these 5 @SavvyMoney tips from @MCUA_news's Halley Abbott on @FOX2now http://t.co/qaXIbnNktt
12 hours ago
Wash state's marijuana market open but still short of FIs to serve it via @NWCUA http://t.co/qwxCVEZbPG
12 hours ago
.@AnheuserBuschCU, @ScottCU, @betterwaytobank, @FirstCommSTL on @stltoday's best workplaces list http://t.co/8yR4GcZkya.
13 hours ago