Pete Wargent blogspot

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

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Friday, 6 January 2017

US jobless claims near 43-year low

Full employment for the US of A

The US Department of Labor reported initial jobless claims of 235,000 for the final week of 2016, far better than the expected result of 260,000. 

Apartment from one reading of 233,000 reported in the preceding month, this was the lowest weekly figure since more than 43 years ago in November 1973. 

Claims for the previous week were also revised down a little, helping to bring the 4-week moving average down by 5,750 to 256,750. 

Claims have now been below the arbitrary 'healthy' level of 300,000 for 96 consecutive weeks, while the unemployment rate has declined to a 9-year low of just 4.6 per cent. 

The US is at near full employment, meaning that the Federal Reserve expects to see interest rates hiked three times in 2017. 

Good news. Higher rates are in the post.