Ticker: Magnet game could cause death, feds say; Unemployment applications down
The Consumer Product and Safety Commission is warning people to immediately dispose of a magnetic game because it poses serious ingestion risks for children.
The CPSC posted a warning Thursday that “Magnetic Chess Games” sold by China-based seller JOMO contain magnets that do not comply with U.S. federal safety regulations. As a result, the “loose, hazardous magnets pose a risk of serious injury or death,” according to the warning.
The CPSC said it issued a violation notice to JOMO, but that the company has not agreed to recall its Magnetic Chess Games or provide a remedy. The commission urged people to stop using the game and throw it away immediately.
Unemployment applications down
The number of Americans filing for unemployment benefits fell slightly last week as the U.S. labor market remains healthy in the face of high interest rates.
Jobless claims ticked down by 2,000 to 231,000 for the week of Aug. 24, the Labor Department reported Thursday. That’s just below the 232,000 new filings analysts were expecting.
The four-week average of claims, which evens out some of the week-to-week volatility, fell by 4,750 to 231,500.
Employers added just 114,000 jobs in July, well below the January-June monthly average of nearly 218,000. The unemployment rate rose for the fourth straight month in July, though it remains low at 4.3%.
Last week, the Labor Department reported that the U.S. economy added 818,000 fewer jobs from April 2023 through March this year than were originally reported. The revised total supports evidence that the job market has been steadily slowing and likely reinforces the Federal Reserve’s plan to start cutting interest rates soon.