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. 


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


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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.


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