The number of people seeking unemployment benefits dropped 15,000 to 320,000 today.
Economists say it’s a sign of less layoffs, but not much job growth.
The U.S. Economy hasn’t seen a jobless claims report like this since October of 2007, almost 6 years ago. Recently the U.S. unemployment figure declined to 7.4%, a 4.5 year low. Both figures are back to 2007/2008 rates around the time of the financial crisis.
In March 2009, around the climax of the recession, unemployment claims numbered 670,000, over double this week’s figure.
Recently, the U.S.’s consumer sentiment, ISM report, and GDP were also positive.
We’ll likely hear of possible ‘septapering‘ (Tapering in September) in the media in the coming weeks.
Until next time, for news updates and more fundamental analysis, you can follow me on Twitter. Follow the Winner’s Edge account, Casey’s twitter account, Nathan’s twitter account, and Tim’s twitter account too for Forex analysis, and trade ideas!
For Nathan’s most recent Technical Analysis click here!
Winner’s Edge Trading, as seen on: