This article appeared online at TheNewAmerican.com on Friday, September 21, 2018:
The jobless claims report from the Department of Labor (DOL) for the week ending September 15 came out on Thursday, the same day that Wall Street learned of even stronger corporate earnings. This one-two punch drove stock averages to new highs, which continued into Friday.
The report from the DOL was cryptic, and disappointing to economists who had forecast higher claims. Said the DOL: “In the week ending September 15 … seasonally adjusted initial claims was 201,000, a decrease of 3,000 from the previous week. This is the lowest level for initial claims since November 15, 1969.”
Even better was its four-week moving average, which smooths out week-to-week fluctuations: “The 4-week moving average was 205,750, a decrease of 2,250 from the previous week … [and] the lowest level for this average since December 6, 1969.”
Still better is the news that