Breaking News

Retail Sales Rebound, Jobless Claims Fall

August 12, 2004
/ Print / Reprints /
ShareMore
/ Text Size+
WASHINGTON (AP) -- Retail sales, which had taken a sharp plunge in June, rebounded by 0.7 percent last month while the number of Americans filing new claims for unemployment benefits fell to a five-week low in early August.

Economists saw both the rise in retail sales and a decline of 4,000 in the number of laid-off workers filing for jobless benefits, reported by the government Thursday, as hopeful signs the economy is rebounding from a worrisome pause in activity in the early summer.

The Commerce Department said the 0.7 percent gain in retail sales last month followed a revised 0.5 percent decline in June.

While the July rebound was smaller than the 1 percent advance that many economists had been expecting, the 0.5 percent June drop was revised upward from a much worse 1.1 percent decline that the government had originally reported.

The Labor Department said the number of people filing first-time claims for unemployment benefits fell by 4,000 last week to 333,000, a five-week low and a sign that the labor market in August may be improving after a disappointing July.

Analysts said an improving labor market is critical to keep the current economic recovery alive since that translates into rising incomes to support consumer spending, which accounts for two-thirds of economic activity.

Did you enjoy this article? Click here to subscribe to i Cleaning Specialist Magazine.

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

The 2013 Experience Convention & Trade Show

A look back in photos at the 2013 Experience Convention & Trade Show in Las Vegas.

THE MAGAZINE

ICS Cleaning Specialist Magazine

cover_image

2014 April

Take a look at the April 2014 issue with features on air movers, going green, carpet cleaning and new products & technologies.

Table Of Contents Subscribe

Social Media

Social media is a good way to regularly keep in touch and interact with current clients and reach potential ones. What social mediums do you use in your cleaning/restoration business?
View Results Poll Archive

THE ICS STORE

Get Paid! book cover
Get Paid! (ebook)
Over 30 authors – over 40 articles…from attorneys, contractors, consultants, instructors and others, both inside and outside the restoration industry. R & R, C & R and Cleanfax, opened their archives and gave us the best they had, other chapters were created just for the “Get Paid!” book and its readers. And every one of them has ideas for how to get paid what you are owed.

More Products

ICS DIRECTORY AND BUYING GUIDE

Director_Buyer.jpgThe premier resource and reference guide for the cleaning and restoration industries.

Click here to view

TRUCKMOUNT EQUIPMENT AND ACCESSORIES GUIDE

Truckmount.jpgEquipment listings and specifications from the leading industry manufacturers.

Click here to view

STAY CONNECTED

facebook_40.png twitter_40px.png youtube_40px.pngcrc logo