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An America drowning in red ink is the land of the free no more
Topic - Julia Coronado
The number of people seeking unemployment aid barely changed last week, while the average over the past month fell to a fresh five-year low. The decline in layoffs is helping strengthen the job market.
U.S. economic growth slowed to a crawl in the spring quarter, trudging ahead at a 1.5 percent annual rate after falling off to 2 percent in the first quarter of the year, the Commerce Department reported Friday morning.
A weak economy got a little lift Thursday with new data suggesting companies aren't pursuing mass layoffs and stores are a little busier.
"Consumers continue to save far more than in recent years and allocate their spending very carefully," Julia Coronado, an economist at BNP Paribas, wrote in a note to clients.
"We think hiring will be more subdued in the second quarter as the economy weathers a consumer spending slowdown and sequestration job cuts," said Julia Coronado, an economist at BNP Paribas.