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Search resuls for: "Thursday's Labor Department"


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read more"The Fed is getting some traction on its message that the inflation pressures are transitory," said Colin Asher, senior economist at Mizuho in London. Fed officials have repeatedly tamped down fears of inflation running persistently higher than its 2% target, while pointing out they have tools to keep it under control. The statement following the Fed policymakers' regular meeting next week and comments from Fed Chair Jerome Powell will be closely watched for the central bank's latest view on inflation. A widely watched barometer of inflation expectations, the breakeven inflation rate (BEI) for 10-year Treasury Inflation Protected Securities , measuring the difference between 10-year TIPS real yields and the 10-year note yield, was at 2.35%, near a two-month low of 2.326% hit on Wednesday. That indicates that markets do not see inflation averaging much over the Fed's 2% target over the next decade.
Persons: Colin Asher, Jerome Powell, Peter Rutter, Joseph LaVorgna, Mark Grant, Organizations: Federal, Treasury, Thursday's Labor Department, Mizuho, Fed, Royal London Asset Management, Securities, Riley, Labor Department, Thomson Locations: U.S, London, Americas, New York, Fort Lauderdale , Florida
Applications for first-time weekly jobless claims totaled 709,000 last week, a decline from the previous week but a continuation of elevated levels of unemployment amid a record surge in daily coronavirus cases that could further complicate a recovery in the labor market. While the new weekly claims total is significantly lower than the March pandemic high of 7 million, it is still far from the pre-pandemic average of 200,000 weekly claims for initial jobless benefits. The number of workers receiving this benefit soared to a record of nearly 4 million last month. With almost 12 million jobs yet to be recovered, the economy still faces a huge shortfall, said Elise Gould, senior economist at the Economic Policy Institute. That means, no matter what they did, there were no jobs for 5.4 million unemployed workers."
Persons: Nick Bunker, Elise Gould, Biden, Gould, Joe Biden, Ryan Sweet Organizations: Thursday's Labor Department, Bureau of Labor Statistics, Economic, Institute Locations: U.S
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