US jobless claims at seven-month low |
| Financial Times - Nov 17, 2011 |
A crucial measure of the US labour market has hit its strongest level since April in a sign that the world’s largest economy may be slowly recovering from its summer stall.
The four-week moving average of new claims for unemployment insurance – a labour market indicator second only to the monthly payrolls report – fell to 396,750, according to the US department of labour.
It is the first time that the average of claims has fallen below the 400,000 level, which many analysts judge is the border between stagnant and expanding employment, since the spring. That provides a welcome sign that the US economy may be gaining a little speed at just the right time to offset discouraging data from Europe and China.
But as evidence that the US is not safe yet, the Federal Reserve Bank of Philadelphia’s manufacturing index fell from 8.7 in October to 3.6 in November, a level that still indicates expansion, although at an extremely slow pace.
Read Full Article from Financial Times
- Posted: 2011-11-17 13:58:46
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