Weekly Jobless Claims Lowest in More Than 3 Years

Last week’s new claims for unemployment benefits touched a 3 1/2 year low with a seasonally-adjusted 364,000 claims. The claims data, which covered the survey period for nonfarm payrolls, helped to take the sting out of a separate report from the Commerce Department showing that gross domestic product grew at a 1.8 percent annual rate in the third quarter.

“The employment situation continues to show strong signs of a recovery and goes against the grain of what people felt four months ago,” said Andrew Wilkinson, chief economic strategist at Miller Tabak & Co. in New York.

Source: Reuters

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.