First-time unemployment filings in the U.S. dropped to 189,000 last week, the lowest weekly reading in more than 50 years. The figure signals a historically tight labor market, where layoffs remain unusually rare even as broader economic pressures persist. Weekly jobless claims are one of the most current real-time gauges of labor market health, tracked closely by the Federal Reserve when calibrating interest rate decisions. A sustained low in claims reduces the urgency for near-term rate cuts, since a strong jobs market gives the Fed less reason to ease. The reading comes against a backdrop of economic headwinds the article flags, including conflict in the region around Iran. Investors and policymakers will watch whether claims stay at this level or begin drifting upward, which would be an early signal of softening in hiring conditions. For now, the data points to employers holding on to workers tightly, keeping the labor market as one of the stronger pillars of the U.S. economy.
Pakistan's economy grew 3.7 percent in FY2026, its fastest rate in four years, according to the Pakistan Economic Survey presented by Finance Minister Muhammad Aurangzeb. Growth beat last year's 3.18 percent but missed the 4.2 percent target, with floods, regional conflict, and weaker food exports cited as key drags.
The Union government released an additional Rs 1,09,019 crore in tax devolution to states on August 1, 2026, separate from the regular monthly transfer. The lump-sum release aims to accelerate state capital spending in the July-September quarter, with Uttar Pradesh, Bihar, and Madhya Pradesh among the top recipients.
US mortgage rates have risen to a one-year high as markets weigh Federal Reserve rate uncertainty and Middle East conflict-driven inflation fears. Higher rates increase monthly payments for new buyers and are likely to further suppress housing market activity and refinancing.
Pakistan's Sensitive Price Index rose 13.52 percent year on year for the week ending July 2, 2026, marking 45 consecutive weeks of annual gains. Electricity up 49 percent, wheat flour up 68 percent, and LPG up 44 percent year on year are the main drivers.
