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New jobless claims continue to fall, with the 4-week average dropping to a recovery low. Continuing claims also fall to a new recovery low.

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boards of FL

boards of FL

It keeps getting worse for republicans.

http://mam.econoday.com/byshoweventfull.asp?fid=460723&cust=mam&year=2014&lid=0&prev=/byweek.asp#top

New jobless claims continue to fall, with the 4-week average dropping to a recovery low.   Continuing claims also fall to a new recovery low. Showimage


Jobless claims continue to move lower in convincing proof of improvement underway in the labor market. Initial claims fell a very sizable 14,000 in the August 2 week to a 289,000 level that is 6,000 below the low end of the Econoday consensus. The 289,000 level is just slightly above the recovery low hit in the July 19 week of 279,000. But the 4-week average is at a new recovery low, down 4,000 to 293,500 which is about 20,000 below the month-ago trend.

Continuing claims, in lagging data for the July 26 week, fell 24,000 to a new recovery low of 2.518 million while the 4-week average is down 17,000 to a new recovery low of 2.519 million. The unemployment rate for insured workers is steady at a recovery low of 1.9 percent.

The Labor Department says auto-retooling issues, which some believe may have been holding down claims this summer given this year's higher production needs in the sector, are no longer in play. This is a very positive report that will build expectations for a decline in the nation's unemployment rate along with accelerating gains for payroll growth.


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