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15 December 2017 17:39 (South Africa)

US economic reports tell of a recovery – a slow, gentle one

A US report on unemployment claims and a new forecast on economic activity point to an economy that is slowly recovering, but without the kind of jobs growth that would lead to a strong recovery. Over the past week, the number of newly-unemployed workers claiming unemployment benefits rose, but the monthly average has fallen. In the meantime, a forecast last month of economic activity by the Conference Board, a leading business federation, rose for the eighth straight month. This recovery, however, is taking on some attributes of the so-called “jobless recovery” as those already unemployed are having trouble finding new jobs. The Conference Board said its index of leading economic indicators rose 0.9% last month, up from 0.3% in October. For more, read the AP

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