Weekly unemployment aid claims drop to 344K

BY: Associated Press
POSTED: February 28, 2013
Tags: BMO Capital Markets, congressional budget office, Economy, job market, Labor Department, National Employment Law Project, Sal Guatieri, Unemployment

WASHINGTON — The number of Americans seeking unemployment aid fell 22,000 last week to a seasonally adjusted 344,000, evidence that the job market may be picking up. The four-week average of applications dropped 6,750 to 355,000, the Labor Department said Thursday. That was the first drop in three weeks. Weekly applications are a proxy for [...]

More evidence of a housing recovery

BY: Associated Press
POSTED: September 19, 2012
Tags: Ben Bernanke, BMO Capital Markets, chairman, economist, Economy, federal reserve, housing, recovery, united states

WASHINGTON — A jump in sales of previously occupied homes and further gains in home construction suggest the U.S. housing recovery is gaining momentum. The pair of reports Wednesday follows other signs of steady progress in the housing market after years of stagnation. New-home sales are up, builder confidence has reached its highest level in [...]

Home building jumps in June after dismal spring

BY: Associated Press
POSTED: July 19, 2011
Tags: BMO Capital Markets, builders, commerce, commerce department, construction, economist, home builders, home building, homes, MFR inc, Real Estate, u.s. builders, washington
Comments: 1

WASHINGTON — U.S. builders broke ground on more single-family homes and apartments in June, helping the battered construction industry gain a little life after a dismal spring. The Commerce Department said Tuesday that builders began work on a seasonally adjusted 629,000 homes last month, a 14.6 percent increase from May. Still, that’s roughly half the [...]

Oil imports drove May trade deficit to $50.2B

BY: Associated Press
POSTED: July 12, 2011
Tags: BMO Capital Markets, commerce, commerce department, deficit, economists, exports, oil, oil imports, supply chain, trade, trade deficit, washington

WASHINGTON — The U.S. trade deficit surged in May to the highest level in more than two and a half years, driven upward by a big increase in oil imports. The Commerce Department said Tuesday that the deficit increased 15.1 percent to $50.2 billion in May. That’s the largest imbalance since October 2008. Exports declined [...]

Unemployment benefit applications stuck above 400K

BY: Associated Press
POSTED: June 30, 2011
Tags: applications, april, auto industry, benefits, BMO Capital Markets, federal reserve, job creation, jobs, Labor Department, Manufacturing, Unemployment, unemployment benefit applications, unemployment benefits, wall street

WASHINGTON — The number of Americans seeking unemployment benefits was mostly unchanged last week, evidence that the weak economy is struggling to generate jobs. Unemployment benefit applications ticked down 1,000 to a seasonally adjusted 428,000, the Labor Department said Thursday. Applications have topped 400,000 for 12 straight weeks. Applications had fallen in February to 375,000, [...]

Businesses cut orders for durable goods in April

BY: Associated Press
POSTED: May 25, 2011
Tags: airplanes, autos, BMO Capital Markets, Business, businesses, commerce, commerce department, computers, demand, durable goods, heavy machinery, manufactured goods, u.s. businesses

WASHINGTON — Businesses cut back on their orders for heavy machinery, computers, autos and airplanes in April, reducing demand for long-lasting manufactured goods by the largest amount in six months. Orders for durable goods fell 3.6 percent, and a key category that serves as a proxy for business investment was down 2.8 percent, the Commerce [...]

2010 ends as 2nd worst year for home construction

BY: Associated Press
POSTED: January 19, 2011
Tags: BMO Capital Markets, commerce department, homebuilders, housing construction

WASHINGTON — Builders began work last year on the second fewest number of homes in more than half a century, as the weak economy kept people from buying houses. Builders broke ground on a total of 587,600 homes in 2010, just barely better than the 554,000 started in 2009. Those are the two worst years [...]

Durable goods orders rise, business spending cools

BY: Associated Press
POSTED: October 27, 2010
Tags: BMO Capital Markets, commerce department, durable goods, Manufacturing

WASHINGTON — A surge in demand for commercial aircraft lifted orders for big-ticket manufactured goods in September, but business spending weakened on products that signal expansion plans. The Commerce Department says orders for durable goods rose 3.3 percent last month. Overall, it was the best showing since January. But excluding transportation, orders fell 0.8 percent [...]