U.S. Consumer Spending Rises 5.6% in June
"The explosion of COVID-19 infections ... is casting doubt on the magnitude of the expected surge in third-quarter consumer spending."
Weekly Jobless Claims Unchanged at 245,000
Jobless applications have been confined to a range of 223,000 to 252,000 since mid-October, reflecting the strong labor market.
Jobless Claims Fall Unexpectedly to 234,000
The latest weekly jobless data indicate companies are "attempting to retain their workers in a tight labor market."
Weekly Initial Jobless Claims Rise Unexpectedly
Initial claims for unemployment benefits increased by 13,000 but the data is “consistent with a still-strong trend in employment growth."