The number of U.S. workers filing new claims for jobless insurance fell for the second week in a row and the four-week moving average was the lowest in nearly a year, pointing to improvements in the labor market. Initial claims for state unemployment benefits dropped last week to a seasonally adjusted 502,000, the lowest since January, from a revised 514,000 the prior week. Economist expected initial claims to fall to 510,000. Continuing claims also fell to 5.631 million in the week ended October 31, the most recent week for which data is available.
In other news, Wal-Mart announced that it beat third-quarter earnings estimates. The world’s biggest retailer said earnings were 84 cents a share and sales were nearly $98.7 billion. The consensus called for earnings to be 81 cents a share.
- Harrington Wealth Management
- Our firm provides comprehensive trust and investment management services by employing a customized asset allocation approach. By focusing on the individuality of each client, Harrington Wealth Management Company has helped high net worth individuals, families, and small institutions grow and sustain their wealth through proven investment practices since 1994. A fee-only advisor, we also offer other financial services from our offices in California, Kansas and Indiana that include custody, estates, land trusts, probate administration, guardianships, personal trust administration, retirement plan services, and investment consulting services.
