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16 March 2017
 |
| Unemployment (The Total Investment & Insurance Solutions) |
Fewer Americans applied for unemployment benefits last week, a further
indication of the health of the labor market. The Total Investment & Insurance Solutions
THE
NUMBERS: Applications for jobless benefits slipped by 2,000 to 241,000 after
claims had risen by 20,000 in the previous week, the Labor Department reported
Thursday. Two weeks ago claims had fallen to a 44-year low of 223,000. The four-week
average, which is less volatile, rose by 750 last week to 237,250. The Total Investment & Insurance
Solutions
Overall,
2.03 million Americans are receiving unemployment benefits, 8.2 percent lower
than a year ago.
THE
TAKEAWAY: Unemployment claims are a proxy for layoffs. They have now come in
below 300,000 for 106 weeks, the longest such streak since 1970. The low level
of claims suggests employers have enough confidence in the economy that they
see no need to shed staff.
KEY
DRIVERS: Employers added a solid 235,000 jobs in February, pushing the
unemployment rate down to 4.7 percent. That level is slightly better than the
4.8 percent jobless rate that the Federal Reserve considers full employment. The Total Investment & Insurance
Solutions
At
their meeting this week, Fed officials boosted their benchmark lending rate by
a quarter-point to a new range of 0.75 percent to 1 percent. It marked the
second rate hike in three months, representing an acceleration of the pace of
the past two years which saw the Fed nudge rates up by a quarter-point once in
2015 and once in 2016. The Total
Investment & Insurance Solutions
The
Fed is projecting it will raise rates a total of three times this year but says
it still expects the pace of those hikes to be gradual.The Total Investment & Insurance Solutions
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