US New Jobless Climbs to 637,000
The US Labor Department said today that new jobless claims rose more than expected to 637,000 new applicants for last week. This was well above predictions of 610,000 and brings the total number of unemployed in the US to 6.36 million. More
Oil Retreats on Demand Worries
Crude oil prices fell by more than a $1 a barrel in London this morning on warnings from the International Energy Agency (AEI) that global demand for oil will drop in 2009 at a greater pace than any time since 1981. More
US Wholesale Prices Jump 0.3% in April
Analysts predicted wholesale prices to rise a modest 0.1 percent in April but the Labor Department announced this morning that wholesale prices actually climbed 0.3 percent. Despite this increase however, wholesale prices over the past twelve months have fallen a total of 3.7 percent – the largest 12-month reduction since 1950. More
Japan’s Current Account Surplus Reduced 50%
Japan’s current account surplus – the difference between money flowing into the country and money leaving the country – fell by 50.2 percent in the fiscal year ending March 30th. A sharp decline in demand for Japan’s exports – primarily in the automotive sector – is responsible for the worst account balance report since 1985. More
