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Featured Advisor



Asset Preservation Advisors




City:Atlanta

State: GA



BIOGRAPHY:
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 Surge After Last Week's Big Drop

Jobless claims jumped dramatically in the week ending July 7 to 386,000, an increase of 34,000 from the previous week’s revised figure of 352,000,  the Bureau of Labor Statistics announced Thursday. The four-week moving average, a less volatile number that flattens out week-to-week fluctuations in the data, was 375,500, a decrease of 1,500 from the previous week’s revised average of 377,000. Last week’s sharp drop in jobless claims coincided with the 4th of July holiday, but are also being attributed to July volatility tied to the timing of annual auto plant shutdowns and layoffs for retooling, Reuters reports. The number of Americans filing for continuing unemployment claims during the week ending July 7 was 3,314,000, an increase of 1,000 from the preceding week. The four-week moving average was 3,311,750, an increase of 1,000 from the prior week. The total number of people claiming benefits in all programs for the week ending June 30 was 5,752,116, a decrease of 121,985 from the previous week. States reported 2,524,363 persons claiming emergency unemployment benefits for the week ending June 30, a decrease of 81,924 from the prior week. There were 3,154,001 claimants in the comparable week in 2011. The largest increases in initial jobless claims for the week ending July 7 were in Michigan, New York, Ohio, Pennsylvania, and Wisconsin. The largest decreases were in California, Connecticut, Massachusetts, New Jersey, and Oklahoma.