News Summary: US Jobless Aid Claims Fall To 343K
By The Associated Press
JOBLESS CLAIMS FALL: The number of Americans seeking unemployment benefits fell 29,000 last week to a seasonally adjusted 343,000, the Labor Department said. That's the second-lowest level this year and a sign the job market may be improving
LAYOFFS DOWN: Applications are a proxy for layoffs. The drop indicates companies are cutting fewer jobs. But employers also need to step up hiring to rapidly push down unemployment.
FISCAL CLIFF: Fewer jobless claims suggests companies are not too worried about the "fiscal cliff," the package of tax increases and spending cuts set to take effect early next year. But economists fear some employers may be delaying hiring.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts