“The number of first-time applications for jobless benefits dropped to a seasonally-adjusted 623,000, from an upwardly revised figure of 631,000 the previous week.”
“Economists consider jobless claims a timely, if volatile, indicator of the health of the labor markets and broader economy. A year ago, initial claims stood at 339,000.”
“Retail sales unexpectedly rebounded, likely boosted by post-holiday discounts and providing a glimmer of hope for the recession-hit economy.”
“The Commerce Department said total retail sales rose 1%, advancing for the first time in seven months, after slumping a revised 3% in December, previously reported as a 2.7% decline.
January’s increase in retail sales was the biggest since November 2007 and beat economists’ expectations for a 0.8% decline. But compared to January 2008, sales were down 9.7%.”
see this Reuters news release in USAToday.
“Foreclosures dropped in January, a possible sign that efforts to slow foreclosures through moratoriums and mortgage modifications are having some effect.”
see this article in USAToday.