Durable Goods Rise; So Do Jobless Claims
Powered by demand for military equipment, orders to U.S. factories for big-ticket manufactured goods rose an unexpectedly sharp 2% in March.
The Commerce Department said last month’s increase in demand for durable goods, items expected to last at least three years, followed a 1.5% decline in February.
That good news for the economy was tempered by a second government report, which showed that the number of Americans filing new claims for unemployment benefits rose last week to the highest level in a year.
The Labor Department said the number of newly laid-off workers filing for jobless benefits rose to 455,000 last week, up 8,000 from the previous week and the highest since March 2002.
More to Read
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.