US Jobless Claims Rise Unexpectedly, Corporate Profits Decline
TL;DR Summary
The US labor market remains tight as weekly jobless claims increased moderately, while corporate profits in Q4 declined by the most in five years due to penalties and fines imposed on several businesses. The GDP growth pace was lowered to 2.6% from 2.7%. The risks to the economy are mounting as tightening lending standards could make it harder for households and small businesses to access credit, potentially dampening demand for labor.
- US labor market remains tight; corporate profits decline Reuters
- Jobless claims edge up to 198,000, higher than expected CNBC
- Initial jobless claims at 198K, higher than expected CNBC Television
- Jobless claims unexpectedly climb to highest level in three weeks Fox Business
- US Jobless Claims Rise for First Time in Three Weeks Bloomberg Television
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