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The number of Americans filing new claims for unemployment benefits jumped to a 1-1/2-year high last week, pointing to widening cracks in the labor market, which together with subsiding inflation could allow the Federal Reserve to halt further interest rate increases next month.
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The number of Americans filing new claims for unemployment benefits jumped to a 1-1/2-year high last week, pointing to cracks in the labor market as demand slows, potentially giving the Federal Reserve room to halt further interest rate increases next month.
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New orders for key U.S.-manufactured capital goods fell more than expected in March and shipments declined, suggesting that business spending on equipment likely remained a drag on economic growth in the first quarter.