Strong Economic Growth in 3Q as Jobless Claims Fall

The main stock indexes continue to drop and ended the day down as talk of tapering intensifies. Today, across the United States fast food workers went on strike in hopes to raise the minimum wage. Many workers say they are unable to live on $7.25 an hour (which equals approximately $15,000 per year), therefore, the minimum wage needs to be raised. Certain unions and organizations even paid some fast food workers to skip their shifts to protest. Starbucks (SBUX) released information about their exclusive holiday metal gift card.
Last year 5,000 were produced and they were sold out within six minutes, this year the company is only producing 1,000. The U.S. economy grew at a rate of 3.6% during the 3Q, the strongest number since early 2012. The November jobs report is set to be released tomorrow and may produce some higher than expected numbers as the number of people applying for unemployment benefits fell last week. The total number fell to 298,000 which is the lowest reported number in three months. The 30-year and 15-year mortgage rates jumped up once again, they are now up a full percentage point since May.

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Published on Dec 5, 2013
By InvestorGuide Staff

Copyrighted 2020. Content published with author's permission.

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