US unemployment benefit claims fell at its lowest last week since April with the trade deficit narrowing in September, indicating a slight improvement in the economy. There was confirmation from the Labor Department that claims for unemployment benefits fell by 10,000 for the second straight week and was adjusted to 390,000. There is still a long way however, before the country can fully recover from the 2007-2009 recession through its labor market, but from all indications, the recovery process is slowly taking place.
Omer Esiner, Commonwealth Foreign Exchange Chief Market Strategist based in Washington, said that there is a clear indication that the labor market is improving, but this is happening at a very slow pace. The Commerce Department informed the public that the seasonally configured US trade deficit decreased to over $43 billion in September in a separate report given. The figure was the narrowest since December, the thing should be probably attributed to the record-high exports figure. From this point of view, this was a strong third quarter, clearly above all expectations.
Recently, the prices for US government debt worsened the claims and trade data, as investors carefully watched the unfolding debt problem in Europe, which could directly impact on the fragile US economy, according to analysts. Yet, with the jobless claims falling below the 400,000-mark, economists are optimistic and many of them think share the opinion that labor market conditions are significantly improving.
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