A lower level of unemployment benefits is witnessed in the U.S . . . . . . . . . . . The recent low level of unemployment benefit applications witnessed nowadays across the U.S soil is actually one of several recent measures pointing to a steadily improving job market ahead of last jobless claims that will be released later on the day and yesterday’s cheerful revealed Fed’s minutes meeting . In fact the initial jobless claims for July 05 could have actually stayed unchanged around 315 thousand while that this past Tuesday a government report showed that total layoffs in May fell below pre-recession levels and more workers are quitting their jobs, which is most probably a sign of confidence since most workers quit when they have new positions or are confident they can find one. Not forgetting last week`s strong employment data from the world`s largest economy seems to have proved the jobs recovery is adding traction, which might push the Fed to raise rates sooner than expected. US employers added 288,000 jobs in June, well above the 215,000 expected by economists. The unemployment rate unexpectedly fell to 6.1% to from 6.35 a month earlier. Whereas yesterday the Federal Open Market Committee plans to end its asset-purchases program in October of the outlook for economic growth holds, according to minutes of the June policy meeting released Wednesday. The minutes showed the confidence of Federal Reserve in the economy after the harsh winter, and their expectation that growth will continue over the next few years. The Federal Reserve plans to add $35 billion to its purchases of Treasury and mortgage-backed securities in July, $25 billion in August and September, and $15 billion in October to put an end to quantitative easing. #egyptyard
Posted on: Thu, 10 Jul 2014 12:30:54 +0000
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