Separate report on Durable Goods Orders showed that new orders for manufactured durable goods in June increased $14.9 billion or 6.5 percent to $245.6 billion, the U.S. Census Bureau announced. This increase, up following two consecutive monthly decreases, followed a 0.1 percent May decrease. Excluding transportation, new orders increased 0.2 percent. Excluding defense, new orders increased 6.7 percent. Transportation equipment, also up following two consecutive monthly decreases, led the increase, $14.6 billion or 19.0 percent to $91.6 billion.
Unemployment Claims increased to 244,000
The number of Americans who applied for unemployment benefits rose in late July but remained near the lowest level in decades, mirroring a red-hot labor market that shows little sign of cooling. Initial jobless claims in the period running from July 16 to July 22 increased by 10,000 to a seasonally adjusted 244,000, the Labor Department said Thursday. The average of new claims over the past month, which gives a more stable picture of layoff trends, was unchanged at 244,000.
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