U.S. Jobless Claims Jump, Showing Choppy Labor-Market Recovery
“Applications for U.S. state unemployment insurance unexpectedly rose for a second week, underscoring the uneven nature of the labor market recovery. Initial claims in regular state programs increased by 16,000 to 744,000 in the week ended April 3, Labor Department data showed Thursday. Economists in a Bloomberg survey estimated 680,000 claims. The prior week’s data was revised up to 728,000. California and New York led states with the biggest increases in unadjusted claims.”
U.K. Housing Market Activity Jumps After Tax Incentive Extended
“The U.K. housing market picked up last month as inquiries, sales and new listings all climbed following an extension of a temporary tax break. New buyer inquiries jumped the most since September, according to the Royal Institution of Chartered Surveyors. That’s adding to demand that continues to outstrip supply, despite an increase in sellers bringing new properties to the market. The outlook for sales was the most upbeat since before the pandemic, and prices rose across all regions of the country.”
Indian Consumers Turn More Glum About the Future, Survey Shows
“Indian consumers turned more pessimistic about the present and less gung-ho about the future, making them less likely to spend big in an economy that’s driven by domestic consumption. The current situation index fell to 53.1 in March from 55.5 in January, according to the Reserve Bank of India’s consumer confidence survey, where 100 is the dividing line between pessimism and optimism. Survey respondents were also less optimistic about the year ahead, with the future expectations index dipping to 108.8 from 117.1 in the period under review, the RBI said.”
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