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US Unemployment Benefits Preview
Applications for U.S. unemployment benefits likely changed little last week, a sign that hiring is probably holding steady. Economists forecast that weekly applications dipped 1,000 to a seasonally adjusted 345,000, according to a survey by FactSet. The Labor Department will release the report at 8:30 a.m. EDT Wednesday. Applications for unemployment benefits are a proxy for layoffs. Since March, they have fluctuated roughly between 340,000 and 360,000, a level consistent with steady hiring. Employers added 175,000 jobs in May, nearly matching the average monthly gain for the past year. The unemployment rate was 7.6 ... (full story)