Economic Review: Unemployment Rate Drops to 5.8%

Posted by Laine Smith on 11/10/14 6:00 AM

Topics: Economy

The unemployment figures were the big story this past week, as the drop to 5.8% is the lowest level since July of 2008. From the week prior, stocks saw a slight increase and mortgage rates dropped slightly. 

November_10

Last week in the economy:

  • The S&P 500 started the week at 2,018 and rose 0.69%, finishing the week at 2032.
  • The unemployment rate declined to 5.8%, the lowest level since July 2008
  • The economy added 214,000 jobs in October
  • The employment data caused mortgage rates to drop slightly this week
  • The ISM Manufacturing index declined to 57.1 in October (from 55.2 in September)

 

What's on the economic calendar for the week of November 10, 2014:

  • Tuesday is Veterans Day. Stocks and futures will be open. Mortgage and Bond markets will be closed. 
  • Jobless claims will be released on Thursday
  • Retail sales will be released on Friday

 

If you enjoyed our economic review, you can get economic updates e-mailed to you weekly by clicking the button below:

 

Subscribe to Weekly Economic Updates

 

 

Our trusted source for all economic news is First Turst Portfolios out of Wheaton, IL. For greater insights on these figures check out their blog here.

 

Subscribe to Email Updates