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New US unemployment benefit claims resume their downward slide

The Labour Department reported 326,000 new claims, seasonally adjusted, filed in the week ended October 2, 38,000 less than the previous week s upwardly revised level and fewer than analysts had expected. ....

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A new pandemic low: US jobless claims fall to 406,000


A new pandemic low: US jobless claims fall to 406,000
The number of weekly applications for jobless aid a rough measure of the pace of layoffs has fallen by more than half since January.
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By Associated Press
WASHINGTON: The number of Americans seeking unemployment benefits dropped last week to 406,000, a new pandemic low and more evidence that the job market is strengthening as the virus wanes and economy further reopens.
Thursday s report from the Labour Department showed that applications declined 38,000 from 444,000 a week earlier.
The number of weekly applications for jobless aid a rough measure of the pace of layoffs has fallen by more than half since January. ....

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Fed lifts economic outlook as stimulus and vaccinations fuel recovery


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The Fed boosted its estimates for economic growth in its projections since December.
US GDP is forecasted to grow 6.5% this year, up from the prior estimate of 4.2%.
The Fed also sees the unemployment rate sinking to 4.5% by the end of 2021.
Federal Reserve
policymakers boosted their projections for the US economic recovery on Wednesday as new stimulus and vaccine rollouts pave the way for a summer reopening.
The Federal Open Market Committee s median estimate for 2021 gross domestic product growth rose to 6.5% this year, and 3.3% for 2022. That compares to the previous forecasts of 4.2% and 3.2%, respectively. The unemployment rate is now expected to dip to 4.5% this year, an improvement from the prior forecast of 5%. ....

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