Jobless Claims, once again, came in better than expected, dropping -14,000 to 351,000, tying the post crisis lows for the second time since the recovery began.
Today’s print of 351K, beat expectations for 355K and last week’s upwardly revised 365K. The trend on both the weekly numbers and the 4-week average has been steadily declining, and continues to underscore the trend of economic improvement in the US.
Today’s report just furthers the good news on the jobs front that the Employment numbers provided last week with the better than expected job gains. More hiring and less firing equals greater economic activity. And that should also mean continued gains in the stock market.
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