July 21, 2022
US Jobless Claims Hit Eight-Month High as Labor Market Cools
Applications for US state unemployment insurance rose for a third week to the highest since November as more companies announce job cuts, suggesting some softening in the labor market.
Initial unemployment claims increased by 7,000 to 251,000 in the week ended July 16, Labor Department data showed Thursday. The figures coincide with the reference period for the July jobs report that’s due early next month. The median estimate called for 240,000 applications in a Bloomberg survey of economists.
UK Motoring Giants Say Supermarkets Are Inflating Petrol Prices
UK motoring groups representing 40% of the population turned up the heat on the country’s supermarkets, saying they are keeping the price of petrol and diesel at the pump too high.
The AA, which has 14 million members, and the RAC with 12.7 million, both said smaller, independently owned petrol stations are more likely to offer fair prices than major retailers.
Japan, Indonesia Expected to Hold Interest Rates Steady
Bank of Japan officials are expected to keep holding rates low at their meeting this week to stimulate the nation’s economy as consumer-price increases hold below those seen in other developed economies. And Indonesia’s central bank will probably keep its benchmark interest rate at a record low. Kathleen Hays reports on Bloomberg Television.
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