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Featured Advisor

Ed Meek
CEO/Investment Advisor

Edge Portfolio Management


State: IL

At Edge, a low client to advisor ratio allows for personal and customized service for each individual.  Our goal is to work as a team for each client to provide not only portfolio management but wealth coordination and financial planning.  We make every effort to have frequent communication with our clients and to provide timely response to calls and emails.  I also enjoy spending time with my wife and three kids, playing and following basketball, playing golf, and participating as an advisory board member for Breakthrough Urban Ministries.

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Jobless Claims Decrease

But still over 400,000

First-time unemployment claims for the week ended June 4 decreased by16,000 to 414,000, the Labor department announced Thursday. This is the tenth consecutive week that claims have been above 400,000, well above 375,000, which is considered the benchmark for sustainable job growth. Analysts cite the elevated figure as a sign of continued sluggishness in the jobs market. The four-week moving average, a less volatile number that flattens out week-to-week fluctuations in the data, was 424,750, unchanged from the previous week’s revised average. The number of Americans filing for continuing unemployment claims during the week ending June 4 was 3,675,000, a decrease of 21,000 from the preceding week’s revised level of 3,696,000. This is the lowest level since April 16, noted Bloomberg. The four-week moving average was 3,708,000, a decrease of 15,250 from the preceding week’s revised average of 3,724,250. The unemployment rate for workers with unemployment insurance was 2.9 percent, unchanged from the previous week. The total number of people claiming benefits in all programs ending June 4, the most recent data available, was 7.4 million, a decrease of 209,116 from the previous week. The largest increases in initial claims for the week ending June 4 were in Illinois, Indiana, New Mexico, Tennessee, and Wisconsin. The largest decreases were in California, Florida, Georgia, Massachusetts, and New York.