Applications for unemployment benefits decreased by 11,000 to 264,000 in the week ended Sept. 12, a Labor Department report showed Thursday in Washington. The survey period included the Labor Day holiday. The median forecast of economists surveyed by Bloomberg projected claims would hold at 275,000.
Any lament that U.S. executives are sitting on cash at their companies instead of investing in plants and equipment may be about to get louder.
Payrolls climbed in 30 U.S. states in April, while the unemployment rate dropped in 40, showing the labor market strengthened across the country.
California Governor Jerry Brown is scheduled to reopen a trade office in China, the state’s third- largest market, after exports to the world’s most populous nation slipped in 2012.
Development of oil-shale deposits through Central California using fracking and other techniques may boost the state’s economic activity by as much as 14.3 percent, a University of Southern California study said.