Worker Productivity Increases; Unemployment Claims Shrink
According to government reports issues this week, worker productivity jumped 9.5 percent in the third quarter of 2010. Additionally, the number of new unemployment claims has shrunk to the lowest level since January, dropping far below the number economists had predicted.
Analysts are eagerly awaiting tomorrow's monthly employment report, which will hopefully indicate a lower number of unemployed than previously expected.
It's good news for the stock market too. Wall Street has been doing quite well this week following the brief scare last Friday when investors worried the current GDP growth would fail sustain itself. While this still remains a speculative concern, it doesn't appear to be negatively impacting this week's growth.
As of this writing, the Dow is up 162 points from yesterday. The Nasdaq and S&P 500 indices also display similar growth with gains today of 40 points and 14 points respectively.
