Afternoon Coffee: Jobless Claims Fall Near 42-Year Low, Americans Spend More Thanks to Gas Savings

Jobless claims have hit near a 42-year low, according to the latest data from the Labor Department. Claims hit 263,000 for the week ending Oct. 3, down 13,000.

Americans spent more on eating out, groceries, entertainment and other goods thanks to the savings they saw at the gas pump this year. A new report shows consumers spend 78 cents of every dollar they saved on gasoline.

Global synthetic fiber prices saw their steepest monthly decline during September in more than 6 years. Prices fell 21.70% due to a drop in demand, declining oil prices and currency devaluations in major textile production regions around the globe.

The National Retail Federation is saying the new chips in credit cards will not keep consumers more safe from data breaches and will cost businesses up to $35 billion to install new terminals to read the cards.


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