Market Update - 11.06.2014

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Nov 6, 4:02PM EST 
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New Jobless Claims Fall Further, Bolstering Hope for Hiring
By THE ASSOCIATED PRESSNOV. 6, 2014

WASHINGTON — Fewer people applied for unemployment benefits last week, adding to signs that the job market should continue to improve.

The Labor Department said on Thursday that weekly applications fell 10,000 to a seasonally adjusted 278,000. The four-week average, a less volatile measure, declined 2,250 to 279,000, the lowest level in more than 14 years.

Applications are a proxy for layoffs, and they have retreated 18.5 percent in the last year, suggesting rising economic confidence among businesses.

Employers have added an average of 227,000 jobs a month in 2014 and added an average of 194,000 last year. Over the last 12 months, they have added 2.64 million jobs, the best showing since April 2006. The unemployment rate has fallen to 5.9 percent, a six-year low.

Economists predict that the Friday jobs report will show 230,000 new jobs in October. The unemployment rate is projected to hold steady.

In a separate report, the Labor Department said workers’ productivity increased in the third quarter at a slower pace than in the previous quarter. Productivity, the amount of output per hour of work, rose at a 2 percent annual rate in the third quarter after a 2.9 percent gain in the second quarter.

Labor costs rose 0.3 percent in the third quarter after falling 0.5 percent in the second quarter.

The payroll processor ADP reported on Wednesday that companies in the United States added 230,000 jobs in October. The result was the highest in four months and a sign that businesses are still willing to hire despite signs of slowing growth overseas. Job gains above 200,000 are usually enough to lower the unemployment rate.

more here:
http://www.nytimes.com/2014/11/07/business/economy/new-jobless-claims-fall-further-bolstering-hope-for-hiring.html?_r=0


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When THAT market crash comes, no one is going to see it coming.

Matthew 24:36
But concerning that day and hour no one knows, not even the angels of heaven, nor the Son, but the Father only.

Not even Jesus Christ.
-SpydaT3K