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☆ It's not just 'Barbie' — as Hollywood goes through upheaval, brands from Nike to John Deere are becoming the new financiers of film and TV
▼ + stars: | 2023-07-20 | by ( Lucia Moses | ) www.businessinsider.com time to read: +6 min

As studios cut spending and strikes shut down production, Hollywood can take some solace — brands are coming to the rescue. Brand Storytelling is an organization that's held a festival for brand content alongside the Sundance Film Festival for the past seven years. Brand film submissions have almost tripled to 160 in the past three years, according to Rick Parkhill, director and co-founder of Brand Storytelling. "Film directors need the work," said Marcus Peterzell, who left ad giant Omnicom to found Passion Point Collective, a brand film studio, in 2019. He's since made some 36 film projects for brands.

Persons: Greta Gerwig, Kyra Sedgwick, John Deere, Kimberly Doebereiner, Chris Paul, Mattel's Robbie Brenner, There's, Jill Lubochinski, Holly Fraser, WePresent, Ron Howard, Brian Grazer's, Reese Witherspoon's, Michael Sugar's Sugar23, we've, Marc Gilbar, Matt Damon, Ben Affleck, Gilbar, that's, Rick Parkhill, Riz Ahmed, WeTransfer, Vicky Grout, Parkill, Saint Laurent, Pedro Almodóvar, David Cronenberg, They're, Marcus Peterzell, Peterzell Organizations: Hollywood, Mattel, Nike, HBO, Procter & Gamble, Tide, Gillette, G Studios, Warner Bros, Discovery, PepsiCo, REI, Dallas Buyers, Sundance, Brand, Brands Locations: —, HBO's, Hollywood

☆ US single-family housing starts to drop; building permits hit 12-month high
▼ + stars: | 2023-07-19 | by ( Lucia Mutikani | ) www.reuters.com time to read: +5 min

Summary Single-family housing starts drop 7.0% in JuneSingle-family building permits increase 2.2%Multi-family starts fall 11.6%; permits drop 5.6%WASHINGTON, July 19 (Reuters) - U.S. single-family homebuilding fell in June, but permits for future construction rose to a 12-month high as a severe shortage of previously owned houses for sale supports new construction. The decline in housing starts reported by the Commerce Department on Wednesday partially retraced an abnormally large 18.7% surge in May, which had pushed groundbreaking on single-family housing projects to an 11-month high. Single-family housing starts, which account for the bulk of homebuilding, dropped 7.0% to a seasonally adjusted annual rate of 935,000 units last month. In June, single-family homebuilding fell in the Northeast, Midwest as well as the densely populated South, but jumped 4.6% in the West. Housing starts and building permitsHOUSING STABILIZING"Today's report continues to suggest stabilization," said Murat Tasci, an economist at JPMorgan in New York.

Persons: homebuilding, Mark Palim, Fannie, Freddie Mac, Murat Tasci, Nancy Vanden, Lucia Mutikani, Chizu Nomiyama, Andrea Ricci Organizations: Commerce Department, Builders, Reuters, Federal, National Association of Home Builders, Treasury, Housing, JPMorgan, Oxford Economics, Thomson Locations: WASHINGTON, Fannie Mae, Washington, homebuilding, Northeast, Midwest, Wells Fargo, New York, West, Nancy Vanden Houten, U.S

☆ US single-family starts drop; building permits hit 12-month high
▼ + stars: | 2023-07-19 | by ( Lucia Mutikani | ) www.reuters.com time to read: +5 min

☆ In Montevideo, Our Drinking Water Is Salty and Foul - The New York Times
▼ + stars: | 2023-07-19 | by ( Guillermo Garat | ) www.nytimes.com time to read: +2 min

MONTEVIDEO, Uruguay — For at least 80 days, ever since drought and mismanagement sapped the drinking water supply of my country’s capital, the water that has come out of our taps has tasted terribly of salt and smelled awfully of chemicals. We cook pasta, wash lettuce and make coffee with it, buying more and more plastic water containers that wind up in the dump. Washing machines don’t foam, and the electric water heaters are failing from a buildup of sodium. At the height of the crisis, sodium and chloride levels rose to double and triple, respectively, the maximum values allowed by our own national drinking water regulations. And in 2004, we became the first country in the world to write access to safe drinking water into the Constitution.

Persons: that’s Locations: MONTEVIDEO, Uruguay, Santa, Montevideo

☆ US retail sales miss expectations; underlying sales strong
▼ + stars: | 2023-07-18 | by ( Lucia Mutikani | ) www.reuters.com time to read: +3 min

Retail sales increased 0.2% last month, the Commerce Department said on Tuesday. Economists polled by Reuters had forecast retail sales gaining 0.5%. Retail sales are mostly goods and are not adjusted for inflation. Clothing store sales increased 0.6% in June, while online sales surged 1.9%. Excluding automobiles, gasoline, building materials and food services, retail sales increased 0.6% in June.

Persons: David Russell, Lucia Mutikani, Chizu Nomiyama, Andrea Ricci Organizations: Commerce Department, Reuters, Market Intelligence, Consumers, Reuters Graphics, Federal Reserve, Thomson Locations: WASHINGTON, U.S

☆ Read the 17-page pitch deck that helped a former WME agent raise $25 million in VC to capitalize on celebrity-backed brands like Gal Gadot's mac and cheese
▼ + stars: | 2023-07-18 | by ( Lucia Moses | ) www.businessinsider.com time to read: +5 min

Read the deck he's using to raise his first venture round of $50 million. In 2018, he left Roar, the management company he started in 2003, to launch Fourward, a management, production, and investment firm. And Fourward has just announced its first VC fund, Fourward Ventures, an early-stage growth fund focused on investments in health and wellness, sustainability, and consumer packaged goods. Fourward says it's looking to companies that disrupt traditional consumer categories, drive societal change, and have celebrity tie-ins. Check out the pitch deck Fourward used to raise the first $25 million of its planned $50 million fund.

Persons: Will Ward, He's, Adam Sandler, Ryan Reynolds, Chris Hemsworth, Zac Brown, Fourward, Gal Gadot, Jay, Austin Nelson, Ward, Chris Hemsworth's, Mark Bezos, there's, he's Organizations: CAA, Roar, Fourward Ventures, Marcy Venture Partners, Bryn Pharma, Corp, HighPost, Hollywood Locations: Fourward, Hollywood, Nashville, —, Centr

☆ Every Hollywood company is having a terrible summer except Netflix, whose global content machine will help it ride out the actors' strike: 'They just aren't worried'
▼ + stars: | 2023-07-18 | by ( Lucia Moses | ) www.businessinsider.com time to read: +4 min

Netflix's password-sharing crackdown and ad tier are starting to pay off, and over time they can provide a revenue boost. Netflix's robust global content machine should also help it ensure subscribers still see plenty of fresh content during the strike, at least for the near term. Analysts will be looking for more color from Netflix on how subscribers are responding to the password-sharing crackdown and ad tier. And if the strike drags on, Netflix will be impacted at some point by the dearth of new content. Analysts will be waiting to hear if and how Netflix plans to change its content strategy accordingly.

Persons: We've, It's, Mark Mahaney, Wedbush, LightShed, gripes, There's, Jeffries Organizations: Netflix, Hollywood, Disney, Warner Bros, Evercore, LightShed Partners, Microsoft Locations: Netflix's, Hollywood

☆ US inflation outlook brightening; consumer sentiment near two-year high
▼ + stars: | 2023-07-14 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

Data for May was revised to show import prices declining 0.4% instead of the previously reported 0.6%. Though consumer inflation remains above the Fed's 2% target, the pace of increase has slowed sharply since peaking in June 2022, giving consumers some relief. INFLATION EXPECTATIONS ANCHOREDThough the survey's inflation expectations increased this month, that was probably because most consumers were interviewed before the release of June's consumer price index report. "Import prices are subtracting from the pernicious trend of the goods inflation Americans have been paying." There were decreases in the cost of nonagricultural industrial supplies and materials as well as food, which canceled out rises in prices for capital goods, consumer goods and motor vehicles.

Persons: Jeffrey Roach, Joanne Hsu, Shannon Seery, Christopher Rupkey, Lucia Mutikani, Christina Fincher, Paul Simao Organizations: Federal Reserve, LPL Financial, Reuters, University of Michigan, University of Michigan's, Consumers, Treasury, Labor, Thomson Locations: WASHINGTON, U.S, Charlotte , North Carolina, Wells, New York, United States, China

☆ US producer inflation muted; labor market still tight
▼ + stars: | 2023-07-13 | by ( Lucia Mutikani | ) www.reuters.com time to read: +7 min

That was the smallest year-on-year gain since August 2020 and followed a 0.9% increase in May. CORE INFLATION SLOWINGExcluding the volatile food and energy components, the so-called core goods prices fell 0.2% last month after climbing 0.1% in May. In the 12 months through June, the core PPI advanced 2.6%. That was the smallest year-on-year gain since February 2021 and followed a 2.8% increase in May. While inflation is slowing, the labor market remains tight.

Persons: Bill Adams, Jeffrey Roach, Christopher Rupkey, Lucia Mutikani, Chizu Nomiyama, Paul Simao Organizations: PPI, Labor Department, Federal Reserve, Comerica Bank, Reuters, Financial, Services, Wholesale, Fed, Energy, LPL Financial, Treasury, CPI, Thomson Locations: WASHINGTON, U.S, Dallas, Charlotte , North Carolina, Stocks, New York

☆ US producer prices barely rise in June; core PPI subsides
▼ + stars: | 2023-07-13 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, July 13 (Reuters) - U.S. producer prices barely rose in June and the annual increase in producer inflation was the smallest in nearly three years, more evidence that the economy had entered a disinflation phase. The producer price index for final demand nudged up 0.1% last month, the Labor Department said on Thursday. Economists polled by Reuters had forecast the PPI would rebound 0.2% on the month and rise 0.4% on a year-on-year basis. A 0.2% increase in the prices of services accounted for the rise in the monthly PPI last month. Excluding the volatile food and energy components, the so-called core goods prices fell 0.2% last month after climbing 0.1% in May.

Persons: Lucia Mutikani, Paul Simao Organizations: Labor Department, PPI, Reuters, Services, Energy, Thomson

☆ Bob Iger says Disney's TV and cable business 'may not be core' and leaves the door open to a sale
▼ + stars: | 2023-07-13 | by ( Lucia Moses | ) www.businessinsider.com time to read: +4 min

Disney's Bob Iger said the company's TV and cable businesses may not be core. Disney's no-growth TV and cable businesses "may not be core" to the company and it will be "expansive" about how it treats them, CEO Bob Iger said. Iger said that while cable TV had declined faster than he expected, Disney's parks business is doing well, the studio business has been successful, and streaming has a bright future. There's been industry speculation that Disney might sell ESPN; Iger stressed that Disney was committed to the business. On recent box office misses in Pixar's "Elemental" and "The Little Mermaid," Iger acknowledged Disney's zeal to grow its streaming business contributed to some "disappointments."

Persons: Bob Iger, Iger's, Iger, he's, We've, There's, supercharging Organizations: Disney, Hulu, ESPN, Morning, CNBC, WGA, SAG

☆ Inside Bob Iger's Disney contract extension: a CEO moving to protect his legacy and get succession right this time
▼ + stars: | 2023-07-13 | by ( Lucia Moses | Reed Alexander | ) www.businessinsider.com time to read: +5 min

Disney extended CEO Bob Iger's contract for 2 years, through the end of 2026. Company watchers won't be shocked by the move, since Iger extended his previous tenure in the role many times. Insiders said he wants to protect his legacy and stabilize the business, especially after the exit of its CFO. Disney just extended Bob Iger's contract for two more years, through 2026, the company announced today. Iger pledged at the time to prioritize finding a successor, but he has extended his contract before — four times during his first 15-year tenure.

Persons: Bob Iger's, Iger, Bob Chapek, Dave Heger, Edward Jones, Heger, Christian Knaebel, Christine McCarthy, Disney, — here's, Chapek, Jay Rasulo, Kevin Mayer, Tom Staggs, Dana Walden, Alan Bergman, Iger's reorg, Dana, who's, Bergman, Walden, Meta execs Sheryl Sandberg, Carolyn Everson, Josh D'Amaro, Jimmy Pitaro, Adam Silver, Silver, Andrew Wilson Organizations: Disney, Hollywood, Writers Guild of America, SAG, Longtime, Disney Entertainment, Pixar, ESPN, National Basketball Association, EA Locations: Iger

☆ US economy shifts into disinflation mode; consumer prices rise modestly
▼ + stars: | 2023-07-12 | by ( Lucia Mutikani | ) www.reuters.com time to read: +7 min

That was the smallest year-on-year increase since March 2021 and followed a 4.0% rise in May. The year-on-year CPI is slowing in part as last year's large rises drop out of the calculation. It was the first time in six months that the so-called core CPI did not post monthly gains of at least 0.4%. Services prices rose 0.3%, matching May's gain. Economists view the ISM services prices paid measure as a good predictor of personal consumption expenditures (PCE) inflation.

Persons: Christopher Rupkey, Joe Biden, Chris Zaccarelli, Sarah Silbiger, Michael Gregory, Lucia Mutikani, Chizu Nomiyama, Andrea Ricci Organizations: Federal Reserve, Labor Department, Fed, Reuters Graphics, CPI, Reuters, Independent, Treasury, El Progreso Market, Washington , D.C, REUTERS, Institute, Supply, BMO Capital Markets, Thomson Locations: WASHINGTON, U.S, New York, Charlotte , North Carolina, Mount Pleasant, Washington ,, Toronto

☆ US consumer prices post modest gains; economy shifts into disinflation mode
▼ + stars: | 2023-07-12 | by ( Lucia Mutikani | ) www.reuters.com time to read: +5 min

U.S. Treasury prices rose. It was the first time in six months that the so-called core CPI did not post monthly gains of at least 0.4%. In the 12 months through June, the core CPI rose 4.8%. Core inflation is expected to continue receding in the months ahead, with the labor market cooling and independent measures showing rents on a downward trend. Economists view the ISM services prices paid measure as a good predictor of personal consumption expenditures (PCE) inflation.

Persons: Christopher Rupkey, Sarah Silbiger, Lucia Mutikani, Chizu Nomiyama, Andrea Ricci Organizations: Reserve, Labor Department, Fed, Reuters Graphics, CPI, Reuters, Treasury, El Progreso Market, Washington , D.C, REUTERS, Institute, Supply, Thomson Locations: WASHINGTON, U.S, New York, Mount Pleasant, Washington ,

☆ Disney CEO Bob Iger Extends His Tenure Again, Will Stay 2 More Years
▼ + stars: | 2023-07-12 | by ( Reed Alexander | Lucia Moses | ) www.businessinsider.com time to read: +3 min

Disney CEO Bob Iger is sticking around for another two years, the company announced Wednesday. That means his contract, previously set to expire next year, will now run through the end of 2026. Iger surprised Disney watchers and company insiders when he returned to the post last year, unseating his short-lived successor, Bob Chapek. Walt Disney Co. CEO Bob Iger is sticking around for another two years, with his contract now set to expire on December 31, 2026, the company said on Wednesday. Iger, who formerly led Disney from 2005 to 2020 before relinquishing the CEO role to his short-lived successor Bob Chapek, returned to the entertainment and theme parks giant in a shock move last November.

Persons: Bob Iger, Iger, Bob Chapek, Bob, Mark G, Parker, Disney's, — Organizations: Disney, Morning, Walt Disney Co, Wall Street, Guild of America, SAG, New York Times

☆ With actors poised to join film and TV writers on strike, Hollywood insiders lay out the dream and nightmare scenarios: 'There's going to be no cash flow'
▼ + stars: | 2023-07-12 | by ( Lucia Moses | ) www.businessinsider.com time to read: +7 min

For the first time since 1960, Hollywood actors and writers could be on strike at the same time. If the actors union, SAG-AFTRA, hits the picket lines, it would cause an even deeper disruption to the entertainment industry. Stakes were high enough with the writers' strike. The movement is having a moment, as has been evidenced by other unions — from teachers to truck drivers — joining Hollywood writers on the picket line. A combined writers' and actors' strike "could well go into the end of the year," Handel said.

Persons: Jonathan Handel, that's, Handel, —, AFTRA, it's, Paul Hardart, Bob Iger, Peter Chernin —, Fox —, Iger, Alan Bergman, Dana Walden, I've, he'd, Hardart Organizations: Hollywood, Guild of, SAG, WGA, Alliance, Producers, Netflix, Disney, Guild of America, Entertainment, Media, Technology, NYU's Stern School of Business, News Corp, Disney Entertainment, United Locations: California, Hollywood, United States

☆ The FTC wants to make it easier to cancel subscriptions just as streamer cancellations are peaking — read how Disney, Netflix, and more are pushing back
▼ + stars: | 2023-07-12 | by ( Lucia Moses | ) www.businessinsider.com time to read: +4 min

Trade orgs for Netflix, Disney, and others oppose an FTC plan to make it easier for people to cancel subscriptions. The "click to cancel" proposal comes as streamers and other businesses face rising cancellation rates. The new rule would require companies to offer a simple mechanism for users to cancel subscriptions the same way they signed up. "I can't tell you how much time I've spent trying to cancel subscriptions I never wanted, let alone the cost!" And entertainment trade orgs are fighting the FTC's proposal, submitting comments to the FTC ahead of its June 23 deadline for public comment.

Persons: I've Organizations: Netflix, Disney, Companies, Federal, FTC, Amazon, Amazon Prime, Deloitte, Warner Bros, Discovery, & Television Association, Paramount, Sirius XM, Entertainment Software Association, ESA, Digital Media Association, Association, Sony Pictures Entertainment, Universal Pictures

☆ Apple TV+ has grown to No. 3 among ad-free streamers, besting Hulu and Max in share — but it faces stiff competition if it launches an ad tier
▼ + stars: | 2023-07-11 | by ( Lucia Moses | ) www.businessinsider.com time to read: +3 min

New data shows Apple TV+ has more than tripled its share of streaming subscribers. More established streamers have had the most success growing their ad tiers. The findings come as Apple TV+ is rumored to be planning to join the other major streamers in chasing video advertising. Apple TV+ has more than tripled its share of ad-free subscribers in the past two years, jumping ahead of Paramount+, Disney's Hulu, and Warner Bros. But Apple TV+ has yet to move into ad-supported streaming, where competitors are seeing their biggest subscriber growth — not to mention new revenue opportunities.

Persons: Peacock, Lauren Fry, Hulu, Discovery's Max, Jonathan Carson Organizations: Apple, Hulu, Paramount, Warner Bros, Netflix, Disney Locations: Hulu

☆ Disney, WBD, and more Hollywood companies are arguing that FTC plans to make it easier for consumers to cancel subscriptions violate streamers' free speech
▼ + stars: | 2023-07-11 | by ( Lucia Moses | ) www.businessinsider.com time to read: +4 min

Trade orgs for Netflix, Disney, and others oppose an FTC plan to make it easier for people to cancel subscriptions. The "click to cancel" proposal comes as streamers and other businesses face rising cancellation rates. The FTC has gone after individual companies; it recently sued Amazon, alleging the etailer "tricked" people into signing up for Amazon Prime. The new rule would require companies to offer a simple mechanism for users to cancel subscriptions the same way they signed up. And entertainment trade orgs are fighting the FTC's proposal, submitting comments to the FTC ahead of its June 23 deadline for public comment.

☆ Layoffs at Dow Jones have Wall Street Journal staffers on edge as the newsroom expects more cuts and changes under top editor Emma Tucker
▼ + stars: | 2023-07-10 | by ( Lucia Moses | ) www.businessinsider.com time to read: +3 min

Dow Jones laid off 10 people on the business side in late June. Wall Street Journal insiders are prepping for a content overhaul and potential cuts later this summer. A steady drip of layoffs continues at Dow Jones, which laid off another 10 people in the last week of June. The roles were mostly finance, sales, and marketing people who work across Dow Jones properties, which include The Wall Street Journal, Barron's, and MarketWatch. The Journal newsroom has largely been spared, but EIC Emma Tucker is conducting a sweeping content review.

Persons: Dow Jones, Almar Latour, Emma Tucker, Tucker, Rupert Murdoch's, she's, Liz Harris, Taneth Evans —, Charles Forelle, Karen Pensiero, Neal Lipschutz, Jason Anders, Thorold Barker, Kristina O'Neill, Sarah Ball, She's, Bernard Arnault, There's Organizations: Wall Street Journal, Dow, Street, MarketWatch, News Corp, Sunday Times, . Magazine Locations: Dow Jones, London, Europe, Middle East, Africa

☆ US job gains smallest in 2-1/2 years; labor market still tight
▼ + stars: | 2023-07-07 | by ( Lucia Mutikani | ) www.reuters.com time to read: +7 min

Nonfarm payrolls increased by 209,000 jobs last month, the smallest gain since December 2020, the survey of establishments showed. Government employment remains 161,000 below its pre-pandemic levels. Leisure and hospitality employment remains 369,000 below its pre-pandemic levels. The household survey from which the unemployment rate is derived showed employment rebounding 273,000, reversing the 310,000 decline in May. Reuters Graphics"Though demand for labor remains unmatched, the labor shortages that employers sighed over a year ago have definitely subsided some," said Andrew Flowers, lead labor economist at Appcast.

Persons: Sean Snaith, payrolls, Selcuk Eren, Andrew Flowers, Lucia Mutikani, Daniel Wallis, Chizu Nomiyama, Andrea Ricci Organizations: Reserve, Labor, University of Central Florida's Institute, Economic, Reuters, Manufacturing, Institute for Supply, Treasury, Companies, Conference Board, Thomson Locations: WASHINGTON, U.S, Washington

☆ Slower, still strong US job growth expected in June
▼ + stars: | 2023-07-07 | by ( Lucia Mutikani | ) www.reuters.com time to read: +5 min

The economy needs to create 70,000-100,000 jobs per month to keep up with growth in the working-age population. A Conference Board survey last month showed consumers' perceptions of the labor market more upbeat in June relative to May. But first-time applications for unemployment benefits jumped to a 20-month high during the week that the government surveyed businesses for the nonfarm payrolls count. "They are going to opt to cut hours worked, that is something we need to pay very close attention to, rather than the net gain in nonfarm payrolls." The slowdown in wage growth is being driven by the loss of high-paying technology and finance jobs among others.

Persons: Jerome Powell, Sung Won Sohn, Payrolls, Ryan Sweet, Milton Ezrati, Yelena Shulyatyeva, Lucia Mutikani, Daniel Wallis Organizations: Labor, Federal Reserve, U.S, Loyola Marymount University, Institute for Supply, Board, Oxford Economics, West Chester Pennsylvania, BNP, Thomson Locations: y WASHINGTON, Los Angeles, payrolls, West Chester, nonfarm, New York

[1/5] Firefighters work at the scene following a fire in a retirement home in Milan, Italy, July 7, 2023. REUTERS/Claudia GrecoMILAN, July 7 (Reuters) - An overnight fire in a retirement home in Milan killed six people and injured around 80, including three who are in a critical condition, Italian authorities said on Friday. Two residents burned to death in their room, while four others died from intoxication, Milan Mayor Giuseppe Sala said, speaking to reporters on the scene. Having said that, six dead is a very heavy death toll," Sala said, indicating that the facility housed 167 people. They evacuated about 80 people, including many in wheelchairs, while another 80 or so were taken to hospital, local firefighters' chief Nicola Miceli told RAI public television.

Persons: Claudia Greco MILAN, Giuseppe Sala, Sala, Firefighters, Luca Cari, Nicola Miceli, Lucia, Giselda Vagnoni, Keith Weir Organizations: REUTERS, Milan, Firefighters, RAI, Thomson Locations: Milan, Italy, Corvetto

☆ US job growth slows; wage gains remain strong
▼ + stars: | 2023-07-07 | by ( Lucia Mutikani | ) www.reuters.com time to read: +4 min

Nevertheless, the pace of job growth remains strong by historical norms and was further evidence that the economy was far from a dreaded recession. Nonfarm payrolls increased by 209,000 jobs last month, the smallest gain since December 2020, the survey of establishments showed. Government employment increased by 60,000, boosted by a 59,000 rise in state and local government payrolls. Government employment remains 161,000 below its pre-pandemic levels. Annual wage growth remains too high to be consistent with the Fed's 2% inflation target.

Persons: Sal Guatieri, Nonfarm, Lucia Mutikani, Daniel Wallis, Chizu Nomiyama, Andrea Ricci Organizations: Reserve, Labor, Fed, BMO Capital Markets, Reuters, Reuters Graphics Reuters, Treasury, Thomson Locations: WASHINGTON, U.S, Toronto

☆ US weekly claims rise moderately; private payrolls surge in June
▼ + stars: | 2023-07-06 | by ( Lucia Mutikani | ) www.reuters.com time to read: +5 min

"A tight labor market will keep the rate path on an upward trajectory, until policymakers see a material rebalancing in supply and demand." Claims, relative to the size of the labor market, are below the 280,000 level that economists say would signal a significant slowdown in job growth. A survey last month showed consumers' views of the labor market more upbeat in June relative to May. Though policymakers viewed the labor market as remaining "very tight," they "anticipated that employment growth would likely slow further." The claims data has no bearing on June's employment report, scheduled for release on Friday.

Persons: Rubeela Farooqi, Unadjusted, payrolls, nonfarm payrolls, Andrew Challenger, Lucia Mutikani, Safiyah Riddle, Chizu Organizations: Federal Reserve, Labor Department, Reuters, Treasury, Fed, ADP, Challenger, Companies, Thomson Locations: WASHINGTON, White Plains , New York, Minnesota, Michigan , New York , Kentucky, Ohio, Texas, New Jersey, U.S

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