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Jobs & GDP: Not Bad

8:43 AM, Aug 28, 2014 • By GEOFFREY NORMAN
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Jeanna Smialek and Shobhana Chandra of Bloomberg reports that:

The number of Americans filing for unemployment benefits were little changed last week as employers held on to staff in an improving economy. Claims decreased by 1,000 to 298,000 in the week ended Aug. 23 from 299,000 in the prior period, a Labor Department report showed today in Washington. The median forecast of 46 economists surveyed by Bloomberg called for an increase to 300,000.

Also, as repaired by Bloomberg’s Chandra:

The economy in the U.S. expanded more than previously forecast in the second quarter, propelled by the biggest gain in business investment in more than two years that bodes well for the rest of 2014.

Still waiting to see if the recovery will achieve escape velocity or loose momentum and fall back into its heretofore tepid trajectory.

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