Initial Jobless Claims Decline to January Levels
A Labor Department report issued Thursday Oct. 8 shows initial claims for unemployment fell 33,000 from the prior week’s revised total to 521,000, the lowest level since the beginning of 2009. This figure was 19k less than the Thomson Reuters survey, giving some cause for hope amid a generally depressed economic outlook. With the four-week average down to 539,750, there is strong evidence of a recovery in the labor market to many investors. The second lowest point this year being reached, on the graph of this closely watched statistic, indicates too many economists that the propensity for hiring by companies…
