The Labor Department announced today that new jobless claims fell to 303,000 for the week ending Feb 5th. This is the lowest jobless claims total in over 4 years. A key driver behind this good news is that layoffs have declined 13% over the prior year.
In other economic news, the trade deficit declined by roughly 5% in December to $56.4 billion dollars. While this is good news, the fact that we import $56 billion more than we export every month is quite sobering. How do we solve this problem? BUY AMERICAN.