The economy of the United States grew slowly in the fourth quarter although not as significant as predicted earlier. There was slightly strong consumer spending which balanced the drag from measures taken by business owners to cut their inventory overhangs.
Hewlett-Packard Co or HP is cutting a large number of its manpower once again while the company continues to struggle to keep its enterprise business going despite the falling demand for its products.
The jobless rate in the country has apparently slumped, with fewer people asking for unemployment benefits the week prior. The decreased number may have been possible due to the current economy that has hampered many companies from laying off their employees.
The number of Americans filing new claims for unemployment benefits unexpectedly fell last week, indicating the jobs market was on solid footing even as the economy struggles to regain momentum after abruptly slowing in the first quarter.
The number of Americans filing new claims for unemployment benefits rose marginally last week, staying near a 15-year low in a sign that the labor market continues to strengthen despite moderate economic growth.
The number of Americans filing new claims for jobless benefits fell to a near six-year low last week and consumer prices rose broadly in July, which could draw the Federal Reserve closer to trimming its massive bond buying program.
New claims for jobless benefits dropped last week to their lowest level in four months, a positive sign for hiring that could bolster expectations the Federal Reserve will ease its monetary stimulus this year.