U.S.labor market still suffers from superstorm Sandy effects

Source: CNBC
The number of jobless claims dropped last week, yet staying elevated on hurricane Sandy that disrupted the U.S. labor market. The initial applications for unemployment benefits lost 41,000 to 410,000 on seasonally adjusted basis, the Labor Department reported. The decline in the number of claims only partially compensates the last week's rally of 90,000 applicants for jobless benefits. Continuing unemployment claims eased 30,000 to 3.337 million after seasonal adjustments in the week ended by Nov.10.
"There appears to be a noticeable deceleration of growth in the fourth quarter. It would not be surprising if some of the new jobless claims are due to underlying weakness in the labor market," said Peter Hooper, an economist at Deutsche Bank in New York. "


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Wed, 21 Nov 2012 20:01:59 GMT

U.S. budget talks slow down the consumer confidence

U.S. consumer confidence dropped in November on concerns over federal tax increase and government spending cut programs in the year 2013. The index tracking consumer sentiment slightly increased to 82.7, up from 82.6 in October; yet lower than the initial forecast of 84.5. The drop in the reading was also triggered by political uncertainty that disturbed in reaching a consensus

Wed, 21 Nov 2012 19:50:58 GMT

Belgium consumer confidence the worst since 2009

The National Bank of Belgium reported Belgian consumer confidence dropped in November, touching its lowest level in three years. The consumer sentiment indicator fell to -24 from -17 the prior month, showing the biggest month-on-month decline since November 2011. The consumer's confidence index was dragged down mainly by consumers' negative view on the nation's current economy and growing concerns over rising employment paring with companies' restructuring

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