THE NUMBER of Americans entering new claims for unemployment benefit fell last week, according to figures published yesterday, indicating that today’s jobs figures could provide a significant rebound from a disappointing August.
The data from the US Department of Labour shows initial claims for state unemployment drop by 8,000 to 287,000 last week.
An improving labour market will be a welcome sight to those hoping the US will maintain its strong growth from earlier this year.
Today sees the release of the private non-farm payrolls, the number of Americans who entered employment over the past month. The indicator has become popular among economists and is often the subject of office sweepstakes.
Using an in-house model, consultancy firm Capital Economics estimates a rebound to 225,000 after a shock decline to 142,000 in August.
Meanwhile, new orders for US factory goods suffered their largest decline on record (records go back to 1992).
However, once this include the volatile transport subsection. Once removed, the US orders decline a modest 0.1 per cent.