Lesser people in the United States are seeking to get jobless benefits, the number of such unemployed dropped to the lowest in over 45 years in the previous week, which means that the economy keeps being robust regardless of indicators showing deceleration in the January-March period.
Initial jobless claims decreased by 12,000 over the week to March 24 to 215,000 seasonally adjusted, the minimum since early 1973, according to today’s statement by the Labor Department.
The preceding week’s data was revised down, cutting it by 2,000 claims compared to prior calculations. Consumer expenditure that represents over two-thirds of economic activity of the country, rose by 0.2% in the previous month following a comparable uptick in January, said the Commerce Department today.
Expenditures for goods with lengthy life cycle, as cars, grew by 0.2%, which comes after a slump of 1.5% in January. Spending on services expanded by 0.3%, on a par with January’s figures. Reuters polled analysts had predicted consumer expenditure to go up 0.2% in February.
Easing of monthly inflation data was observed as well, following January’s hike in prices. The personal consumption expenditures price index, without taking into account the unsteady food and energy, gained 0.2% last month following January’s growth of 0.3%.