Initial Claims Fall 5K to 388K, Lowest Point Since April
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Price: $136.92 +2.65%
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Dividend Yield: 2.1%
Revenue Growth %: +7.3%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 2.1%
Revenue Growth %: +7.3%
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Initial claims in the U.S. fell for the second straight week, indicating firings are being reduced as the holiday season approaches.
The drop was from an upwardly revised 393,000 to 388,000. Economists were looking for an increase to 395,000. The initial reading for the prior week came in at 390,000.
Initial claims were at the lowest point since April, data shows.
Continuing claims fell 57,000 to 3.61 million for the week ended November 5th, the lowest number since September 2008.
The four-week moving average for claims fell 4,000 to 396,750. This would be the first time in nearly seven months the four-week moving average fell below 400,000.
Americans claiming extended benefits fell 70,400 to 3.46 million.
The unemployment rate on those eligible for benefits was stable at 2.9 percent for the week ended November 5th.
With Citi (NYSE: C) and Bank of America (NYSE: BAC) laying off more as trading revenue stutters, and the Fed giving a rather bleak outlook for the current state of the U.S. and global economy, who knows how long the positive numbers will stick around.
The drop was from an upwardly revised 393,000 to 388,000. Economists were looking for an increase to 395,000. The initial reading for the prior week came in at 390,000.
Initial claims were at the lowest point since April, data shows.
Continuing claims fell 57,000 to 3.61 million for the week ended November 5th, the lowest number since September 2008.
The four-week moving average for claims fell 4,000 to 396,750. This would be the first time in nearly seven months the four-week moving average fell below 400,000.
Americans claiming extended benefits fell 70,400 to 3.46 million.
The unemployment rate on those eligible for benefits was stable at 2.9 percent for the week ended November 5th.
With Citi (NYSE: C) and Bank of America (NYSE: BAC) laying off more as trading revenue stutters, and the Fed giving a rather bleak outlook for the current state of the U.S. and global economy, who knows how long the positive numbers will stick around.
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