The Corner

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‘First-time jobless claims fall more than expected’


The Labor Department released new numbers this morning. Never pay much attention to one week of initial claims for unemployment insurance. Instead, look at the underlying trend. The four-week moving average of claims is 469,000, down substantially from 602,000 a year ago and 566,000 six months ago. That’s good news and suggests we are on the doorstep of consistent net job creation.    

 – Robert Stein is senior economist at First Trust Advisors.