Pete Wargent blogspot

CEO AllenWargent Property Buyers, & WargentAdvisory (institutional). 6 x finance author.

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Friday, 19 June 2015

Jobless claims decline

Claims down

The US Department of Labor released its initial jobless claims figures, which showed initial claims declining by 12,000 to a better than expected 267,000.

This marks 15 consecutive weeks of under 300,000 claims, a threshold traditionally associated with a robust or firming labor market.

On a seasonally adjusted 4mMA basis initial claims are sitting at 275,625 having declined by 2,000 from 278,750 unrevised from the previous week.

This remains tantalisingly close to the lowest level seen in the 42 years since 1973.

Meanwhile, stock markets continue to go bonkers.

The NASDAQ touched a new intra-day high of 5143, breaking a record which has stood for a decade-and-a-half.

With nonfarm payrolls also printing strong of late and the unemployment rate nudging against a 7 year low it appears to be a matter of time before the Federal Reserve begins to hike interest rates (which should correspondingly have an impact on the Australian dollar).