US – Initial Claims
07/12/2018 09:49 am MYT
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The seasonally adjusted initial claims for the week ending 1 Dec 2018 were 231,000, down 4,000 from the previous week. The 4-week moving average increased 4,250 from the previous week to 228,000 – see figure 1. Continuing jobless claims for the week ending 24 Nov 2018 registered a seasonally adjusted 1.631 mln, down 74,000 from the previous week, while the 4-week moving average increased by 250 to 1.667 mln. Layoffs continued to veer at historically low levels despite a noticeable rise. The underlying trend remained consistent with a tight labour market.

 

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Note from Publisher
This week, the world economy and financial markets underwent extreme volatility due to the actions of one person. The US-China trade conflict has evolved into an all-out trade war as both countries threatened more actions following the initial rounds of tit-for-tat tariff hikes. As if the global condition is not turbulent enough, after bullying China, the same person turned his gun on Iran, threatening to start a war in the Middle East.

With the most powerful country on earth being the biggest threat to world peace, what can the rest of the countries do ? The other peace-loving countries on earth must unite and reject Donald Trump’s hypocrisy and destructive policies. Although the US is still the largest economy in the world, she is no longer as critical as say 40 years ago. Nowadays, when the US sneezes, the world needs not necessary catch a cold. China, Europe, and the Asian developing countries together can hold up the global economy.

In addition, economists and researchers around the world must publish articles to counter the lies by Donald Trump that the trade war is benefitting the US and Americans. Americans must not be cheated by their president again.
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