Every week we share news stories, blog articles and other interesting stuff from around the web that received the most views, shares, comments and overall interest on various KeatsConnelly social media outlets.This week we offer a mix of articles discussing US unemployment, the Dow, and consumer spending .
US Unemployment Falls to 7.4% (www.advisor.ca) US employers added 162,000 jobs in July, the fewest since March. The gains were enough to lower the unemployment rate to a 4.5-year low of 7.4%, a good sign in an otherwise lacklustre report.The Labor Department says Friday that unemployment fell from 7.6% in June. The economy added 26,000 fewer jobs in May and June than previously estimated. Americans worked fewer hours. And their pay dipped. The figures suggest weak economic growth may be making businesses cautious about hiring….
Dow Looks to Cap Sixth Weekly Gain in a Row (www.online.wsj.com) The Dow average was little changed Friday, looking to cap its sixth-straight weekly advance, as investors shrugged off a weaker-than-expected reading on July jobs growth. The Dow Jones Industrial Average fell five points, or less than 0.1%, to 15623 in late-afternoon trading, tiptoeing back from the all-time closing high it posted Thursday. The benchmark was up 0.4% for the week, extending its year-to-date gain to 19%…
Consumer Spending in the US Rose in Line with Forecast (www.bloomberg.com) Consumer spending in the U.S. rose in line with forecasts in June as Americans’ incomes (PITLCHNG) grew, a sign the biggest part of the economy is withstanding fiscal headwinds. Household purchases, which account for about 70 percent of the economy, rose 0.5 percent, after a 0.2 percent increase the prior month that was less than previously estimated, the Commerce Department reported today in Washington. The median forecast in a Bloomberg survey of economists called for a 0.5 percent rise. Incomes advanced 0.3 percent.
Come back next week for more interesting news and articles. Enjoy your weekend!