Jobless Claims in U.S. Increased to 339,000 Last Week

Job Cuts

“As we’ve aligned Nook’s cost structure with business realities, staffing levels in certain areas of our organization have changed, leading to some job eliminations,” Mary Ellen Keating, a spokeswoman for the New York-based retailer, said in an e-mail. She declined to say how many jobs were cut and from what areas of the company.

Fed officials are monitoring progress in the labor market as they pursue plans to gradually scale back their bond-buying program, known as quantitative easing.

Yellen, 67, delivered her first public remarks as head of the Fed to the House Financial Services Committee on Feb. 11, days after a Labor Department report showed the jobless rate unexpectedly declined to 6.6 percent, while payrolls growth was weaker than forecast.

To contact the reporter on this story: Victoria Stilwell in Washington at vstilwell1@bloomberg.net

To contact the editor responsible for this story: Carlos Torres at ctorres2@bloomberg.net

Article Appeared @http://www.bloomberg.com/news/2014-02-13/jobless-claims-in-u-s-increased-to-339-000-last-week.html

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