U.S. Jobless Claims Hover Near High; GDP Up 1.9%
June 28 (Bloomberg) -- The number of applications for unemployment benefits hovered last week near the highest level of the year. Jobless claims decreased by 6,000 to 386,000 in the week ended June 23, Labor Department figures showed today in Washington.
Separately, Commerce Department figures showed the U.S. economy grew 1.9 percent in the first quarter, reflecting a gain in consumer spending that now shows signs of cooling as the labor market weakens. Deirdre Bolton and Michael McKee report on Bloomberg Television's "In the Loop." (Source: Bloomberg)