Jobless Claims Rise

The Department of Labor reported initial jobless claims rose in the week ending Oct. 30. The number came in at a seasonally adjusted rate of 457,000, an increase of 20,000 from the previous week's revised figure of 437,000. The 4-week moving average was 456,000, an increase of 2,000 from the previous week's revised average of 454,000. You can see from the chart below the 4-week average has been stuck above 450,000 for quite some time. Employers are not confident enough about the economy to hire permanent workers. However, they are very willing to hire temporary workers according to the American Staffing Association's weekly index. I doubt more criminal money printing by the Fed will encourage companies to hire more workers.

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Black Swan Insights


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