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Featured Advisor

Asset Preservation Advisors


State: GA

APA’s philosophy is to work closely with our clients to develop an in-depth understanding of their unique needs and objectives. We then customize a municipal bond portfolio that best meets their specific goals and needs. APA manages high quality municipal bond portfolios in four strategies: Short-Term, Intermediate-Term, High Income, and Taxable.

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Jobless Claims Rise Unexpectedly

First time jobless claims climbed unexpectedly by 6,000 to 386,000 in the week ended June 9 from a revised 380,000 the prior week, the Labor Department announced Thursday. Analysts consider 375,000 jobless claims to be a benchmark that signals strong enough hiring to lower the unemployment rate. The four-week moving average, a less volatile number that flattens out week-to-week fluctuations in the data, was 382,000, an increase of 3,500 from the previous week’s revised average of 378,500. Coming on the heels of the disappointing May jobs report, the latest jobless claims figures are further signs that the labor market is not gaining any traction.The number of Americans filing for continuing unemployment claims during the week ending June 2 was 3,278,000, a decrease of 33,000 from the preceding week. The 4-week moving average was 3,281,500, a decrease of 2,500 from the preceding week. The total number of people claiming benefits in all programs for the week ending May 26 was 5,824,739, a decrease of 145,990 from the prior week. States reported 2,555,513 persons claiming emergency unemployment benefits for the week ending May 26, a decrease of 17.045 from the prior week. There were 3,293,507 claimants in the comparable week in 2011. The largest increases in initial jobless claims for the week ending June 2 were in Nevada, New Mexico, Virginia, and Wisconsin. The largest decreases were in California, Georgia, North Carolina, Massachusetts, and Texas.