Pete Wargent blogspot

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

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Saturday, 11 June 2016

US jobless claims fall

Conflicting reports and data concerning the US labo(u)r market continue.

In brighter news, the Department of Labor reported that initial jobless claims unexpectedly fell last week by 4,000 to 264,000.

The four week moving average fell by 7,500 to 269,500, historically a low figure. 

Initial claims have now been under the 300,000 benchmark level for 66 consecutive weeks.

This suggests that the recent shocker of a payrolls report from the Bureau of Labor Statistics may not portend doom and gloom after all.

With companies apparently not shedding positions in an untoward fashion, the jobless claims figures suggest that hiring activity could rebound in due course.

Let's hope so.

The Aussie dollar is buying just under 74 US cents.