RSS Facebook Twitter LinkedIn

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.

Click to see the full profile

Share |

Jobless Claims Spike to 388,000

Labor Department cites seasonal factors for increase

Weekly jobless claims spiked last week after they had fallen to their lowest level in more than four years, the Labor Department reported Thursday. In the week ending Oct. 13, initial claims for unemployment benefits were 388,000, an increase of 46,000 from the previous week’s revised figure of 342,000.  The four-week moving average, a less volatile number that flattens out week-to-week fluctuations in the data, was 365,000, an increase of 750 from the previous week. Jobless claims usually increase at the beginning of a quarter, but one unnamed state appears to be following a different pattern, causing the recent fluctuations, a Labor Department official said. The number of Americans filing for continuing unemployment claims during the week ending Oct. 6 was 3,252,000, a decrease of 29,000 from the prior week. The four-week moving average was 3,275,500, a decrease of 5,750 from the preceding week. States reported 2,098,793 persons claiming emergency unemployment benefits for the week ending Sept. 29, a decrease of 7,279 from the prior week. There were 2,967,054 claimants in the comparable week in 2011. The total number of people claiming benefits in all programs for the week ending Sept. 29 was 5,001,985, a decrease of 42,664 from the previous week There were 6,694,493 persons claiming benefits in all programs in the comparable week last year. The largest increases in initial jobless claims for the week ending Oct. 6 were in Illinois, Georgia, New York, Oregon, and Texas. The largest decreases were in Alabama, California, Rhode Island, and West Virginia.