Jobless Claims Allay Concern on U.S. Labor Market: Economy

Claims for unemployment benefits declined last week to the lowest level in a month, easing concern that the U.S. labor market is faltering. 

First-time claims dropped by 1,000 to 367,000 in the period ended May 5, the Labor Department said today in Washington.

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Pending Sales of U.S. Existing Homes Increased 4.1% in March

Signed contracts to buy U.S. homes rose more than forecast in March as low interest rates drew buyers back into the market.

The index of pending home purchases rose 4.1 percent to 101.4, the highest level since April 2010, after a 0.4 percent gain in February that was revised from a previously estimated 0.5 percent drop, the National Association of Realtors reported today in Washington. The median forecast of 43 economists surveyed by Bloomberg News called for a 1 percent rise in the measure, which tracks contracts on previously owned homes.

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Clinton Support of Obama :: One Chance

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Hotel Hiring Rebounds as U.S. Tourism Overcomes Slump

A rise in leisure and business travel is “creating employment opportunities all across the country in the travel industry that is helping in the job recovery and benefiting the economy,” said David Huether, senior vice president of economics and research at the U.S. Travel Association in Washington.

About 7.6 million people, or 5.7 percent of the U.S. workforce, held tourism-related jobs in March, the association estimates. The travel industry accounted for “a substantial component” -- 2.7 percent -- of 2010 gross domestic product, according to a Jan. 19 statement from the White House.

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