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By Staff Reporters
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Stocks dropped for the third straight day after Fed officials said they plan to keep interest rates higher for longer than they previously thought. Meanwhile, Fox shares jumped 3% on the news Rupert Murdoch is stepping down as chairman of the mass media company (much more on that below).
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US jobless claims fell to an eight-month low
Applications for unemployment benefits dropped 20,000 to 201,000 last week, according to Labor Department data released yesterday. That was both the fewest number of claims since January and also among the fewest in the last 50 years. But it may not last for long.
The ongoing United Auto Workers strike could force car manufacturers to temporarily lay off more workers, leading to a reversal of what one analyst called “rock bottom levels” of job cuts.
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Filed under: "Ask-an-Advisor", Accounting, Breaking News, Career Development, LifeStyle, Surveys and Voting | Tagged: DOL, Fox, jobless claims, jobless claims fall, Rupert Murdoch, UAW, United Auto Workers | Leave a comment »
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