The number of Americans filing for unemployment benefits rose modestly last week...
WASHINGTON - The number of Americans filing for unemployment benefits rose modestly last week, suggesting sustained labor market strength that could help to support the economy amid risks from the coronavirus and weak business investment.
Minutes of the Federal Reserve’s Jan. 28-29 meeting published on Wednesday showed policymakers “expected economic growth to continue at a moderate pace,” but expressed concern about possible economic risks from the coronavirus which has killed more than 2,000 people, mostly in China. The economy created 225,000 jobs in January after adding 147,000 positions in December. The unemployment rate rose one-tenth of a percentage point to 3.6% as more people entered the labor force, a sign of confidence in their job prospects.
But a measure of factory employment slipped. The survey came on the heels of a report from the New York Fed on Tuesday showing a measure of business activity in New York state jumped to a nine-month high in February.
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