Jobless Claims Decrease As GDP Increases Thursday, August 29, 11:41 AM ET
This morning, the Labor Department reported that initial jobless claims fell by 6,000 to a seasonably adjusted rate of 331,000 claims. The number of Americans seeking unemployment benefits has been on the decline all year and are once again nearing five and a half year lows. Also reported today was that US GDP had grown 2.5% in the second quarter -- well above the 1.7% the government had initially estimated. In the report, the Commerce Department noted that exports increased more than expected in the quarter, resulting in better growth. With the US economy growing and jobless claims decreasing, many investors are looking to the Federal Reserve to see when the bond buying program will slow or end.
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