Unemployment Breaking News: IMF Urges More Reforms in Italy to Create Jobs

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Unemployment Breaking News: IMF Urges More Reforms in Italy to Create Jobs

by Wochit 0:59 mins

Unemployment Breaking News: IMF Urges More Reforms in Italy to Create Jobs

by Wochit 0:59 mins

The International Monetary Fund is praising Italy for having taken "bold steps" to heal its finances but says the government needs to do more to get "unacceptably high" unemployment down. Applications for U.S. unemployment benefits likely changed little last week, a sign that hiring is probably holding steady. Economists forecast that weekly applications dipped 1,000 to a seasonally adjusted 345,000, Private employers stepped up hiring in June and new applications for unemployment benefits fell for a second straight week, pointing to improving labor market conditions. However, the trade gap swelled more than 12 percent to $45 billion from a revised $40.1 billion in April, the biggest month-to-month increase in two years.

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