The Labor Department reports new claims for unemployment benefits fell by 22,000 to 222,000 last week. That’s the lowest number since March 1973 and well the 244,000 expected by economists. Continuing claims fell by 16,000 to 1.89 million. That’s also a 44-year low. The 4.2% unemployment rate is the lowest since 2000. and the biggest complaint among business owners is a shortage of skilled workers to fill a record number of job openings.
The index of leading economic indicators fell 0.2% in September, for the first drop in 12 months. The measure of current conditions rose 0.1%, but the lagging index fell 0.1%. The index is a weighted gauge of 10 indicators designed to signal business-cycle peaks and valleys. The drop was partly due to the temporary impact of the recent hurricanes that hit Florida and Texas. Slower construction in the South and a temporary spike in people being unable to work were the biggest sources of weakness.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
