U.S. jobless claims hit 44-1/2-year low; mid-Atlantic factories humming

[Sunlei]

Source: reuters

WASHINGTON (Reuters) - The number of Americans filing for unemployment benefits dropped to its lowest level in more than 44-1/2 years last week, pointing to a rebound in job growth after a hurricane-related decline in employment in September.

The labor market outlook was also bolstered by another report on Thursday showing a measure of factory employment in the mid-Atlantic region racing to a record high in October. The signs of labor market strength could cement expectations that the Federal Reserve will raise interest rates in December.

“It doesn’t take one hundred PhD economists at the Fed to figure out that the labor market is on the tight side of normal,” said John Ryding, chief economist at RDQ Economics in New York. “At this point, we would expect a sharp bounce-back in employment growth in October.” Last week marked the 137th consecutive week that claims remained below the 300,000 threshold, which is associated with a robust labor market. That is the longest such stretch since 1970, when the labor market was smaller.

Improvements in the labor market have been largely due to a recovery that started during former President Barack Obama’s first term. While U.S. stocks have risen in anticipation of President Donald Trump’s tax plans, the administration has yet to enact any significant new economic policies.


Read more: http://www.reuters.com/article/us-usa-economy-unemployment/u-s-jobless-claims-hit-44-1-2-year-low-mid-atlantic-factories-humming-idUSKBN1CO1RU?il=0

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Improvements in the labor market have been largely due to a recovery that started during former President Barack Obama’s first term.

Improvements in the labor market have been largely due to a recovery that started during former President Barack Obama’s first term.

Improvements in the labor market have been largely due to a recovery that started during former President Barack Obama’s first term.

[AtheistCrusader]

1. Largely? Entirely more like it.

Except perhaps for some speculative optimism that regulatory fetters will be removed, that will lead to huge bubbles, (which they love) and subsequent busts (that they love leaving us holding the sack for.).

[forgotmylogin]

2. Inevitably, 45 will believe this is his doing.

If he just left Obama's infrastructure in place, he could take credit for all of it for years to come.

Or at least until they vaudeville hook him out of his oval office chair...

[awesomerwb1]

3. Hurricane related jobs probably?

Car purchases went up as well because people needed to replace damaged cars I think I heard on NPR.

I know that we're at peak employment and that of of last June there were 6 million unfilled jobs. Plenty of jobs for anyone who wants to work.

[AJT]

4. This will lead to republicans winning in 2018.

If the economy is good people will vote the same people back in. Most people only care about their financial security. It is sad, but true.

[Pugster]

5. Define winning

Is getting more House seats than Democrats winning?
Were you referring to the senate or the house? Were you referring to both?
also provides evidence proving that people only care about the financial well-being, and nothing else.

[Iliyah]

6. negative job loses in 7 years.

I find that not comforting at all. Plus, part time and minimum wage jobs while the economy cost going upward.

[Yavin4]

7. The effects of 0% interest rates for almost ten years

Raises consumer demand which means more hiring to meet that demand.