, Singapore

US jobless claims still high

Initial claims may have dropped from the 500k mark three weeks ago but they remain too high at 478k and 472k the past two weeks, according to DBS Group Research.

DBS Group Research said, “For the unemployment rate to start dropping significantly nonfarm payrolls need to rise above 200k per month. Historically, that has been associated with weekly claims down around the 325k level. Plainly, 325k is a long haul from today’s 475k claim rate. In terms of where we have come from and where we need to get to, claims have traveled about 50% of the way over the past 18 months.”

It added all eyes will be watching tomorrow’s weekly jobless claims figures with mid-term elections coming up and notably few data on the calendar this week.

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Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.
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