Jobless claims fell Thursday in America, giving a good sign for the general health of the economy. Claims today dropped 23,000 from the previous release of 392K.
Earlier in October, claims dropped like a rock and then shot back up again. A Labor Department analyst explained the phenomena was due to a change in this quarter’s seasonal pattern.
Along with a decent looking report for jobless claims, the unemployment rate recent fell to 7.8%, retail sales have been picking up, and durable-good orders jumped 9.9% in the United States. I personally think this could be a Pre-Presidential Election Blip.
If you saw the FOMC report yesterday, the Fed did not boast much concerning the recently good U.S. news. They did mention that, “household spending continued to advance”. How about the other stats? Is it that they realize this could be a one month blip? If the news we see now is signalling true improvement, it will become much more clear in December-February as we move into the new year.
My article from yesterday talks more about the recent FOMC statement: Steady Stimulus Sparks Substantial Stability.
If you haven’t seen Casey’s recent article on Forex Trading, don’t forget to check it out!
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