CHICAGO (AP) -- Shares of U.S hotel chains climbed Friday after a series of economic reports showed the recession may be drawing to a close and gave investors hope the hard-hit industry will see occupancy rates climb.
Early in the day, federal data showed that employers sharply scaled back layoffs in July. And the government reported that the national unemployment rate dipped for the first time in 15 months in July.
Other encouraging news: Workers' hours nudged up after sinking to a record low in June, and paychecks grew after having stagnated or fallen.
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