August 8, 2024
United States:
US Initial Jobless Claims Decline by Most in Nearly a Year
Initial applications for US unemployment benefits fell last week by the most in nearly a year, potentially alleviating some concerns that the labor market is cooling too fast following last week’s disappointing jobs report.
Initial claims decreased by 17,000 to 233,000 in the week ended Aug. 3, according to Labor Department data released Thursday. That was helped by fewer applications in states that had registered large increases in recent weeks, such as Michigan, Missouri and Texas.
United Kingdom:
UK Mortgage Possessions Jump as Higher Rates Squeeze Homeowners
The number of UK mortgaged homes taken into possession rose 8% in the second quarter of 2024 as high interest rates squeezed homeowners.
Some 980 homeowner mortgaged properties were taken into possession between March and June, according to data compiled by industry group UK Finance. That’s up from 910 in the previous quarter and is more than 30% higher than the number recorded a year earlier.
Asia:
Indian Households See Inflation Accelerating in Coming Months
Indian households expect inflation to accelerate through the next three months to one year driven mainly by food prices, housing and cost of services, according to a survey by the country’s central bank.
Households see inflation in India rising by 20 basis points each over the next three months and year, according to the households’ inflation expectations survey released by the Reserve Bank of India on its website Thursday.
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