The number of Americans filing for unemployment benefits fell slightly last week as the U.S. labor market remains healthy in the face of high interest rates. Jobless claims ticked down by 2,000 to 231,000 for the week of Aug. 24, the Labor Department reported Thursday. Weekly filings for unemployment benefits, which are considered a proxy for layoffs, remain low by historic standards.
Applications for jobless benefits fell modestly last week as US labor market remains healthy amid high interest rates.
The U.S. economy grew last quarter at a healthy 3% annual pace, fueled by strong consumer spending and business investment, the government said Thursday in an upgrade of its initial assessment. The Commerce Department had previously estimated that the nation’s gross domestic product — the total output of goods and services — expanded at a 2.8% rate from April through June. The second-quarter growth marked a sharp acceleration from a sluggish 1.4% growth rate in the first three months of 2024.
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Marvell Technology, Inc. (NASDAQ:MRVL) is expected to release earnings results for its second quarter, after the closing bell on Thursday, Aug. 29. Analysts expect the Wilmington, Delaware-based company to report quarterly earnings at 30 cents per share, down from 33 cents per share in the year-ago period. Marvell Technology is projected to post revenue of $1.25 billion, according to data from Benzinga Pro. On Aug. 22, Rosenblatt analyst Hans Mosesmann maintained Marvell Tech with a Buy and main
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