Economy
The latest financial news, stock market updates and employment information.
News Summary: UK unemployment rate nears 7 percent
LOWER UNEMPLOYMENT: Britain’s unemployment rate dropped 0.5 percent to 7.1 percent in the three months ended Nov. 30, a shade above the 7 percent level at which the Bank of England may reassess its monetary policy.
UK’s Osborne denies monetary policy changes failed
(Michel Euler / Associated Press)
George Osborne, Britain’s economic minister, dismissed suggestions Friday that the Bank of England’s strategy to link monetary policy to unemployment has been a failure after its governor gave a clear hint that it would be scrapped.
69 percent support extending unemployment insurance
(Jim Weber / AP)
More than two-thirds of Americans want the benefits to last at least one year -- longer than the current 26 weeks.
UK jobless drop puts spotlight on central bank
Britain’s unemployment rate has dropped more than expected, edging closer to the point at which the Bank of England will consider raising interest rates.
How states fared on unemployment benefit claims
The number of Americans seeking unemployment benefits ticked up 1,000 last week to a seasonally adjusted 326,000, a level consistent with steady job gains. The figure is close to pre-recession levels and indicates companies are laying off few workers.
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