Article source: CMDGroup
Yes, there are ongoing caveats concerning the U.S. economy – a disproportionate number of part-time as opposed to full-time jobs; high levels of student debt; the psychological hangover of recession-era foreclosures in the housing market; etc. Nevertheless, proof of greater strength is everywhere.
The bellwether initial jobless claims figure has been below 300,000 for 24 weeks in a row. This proxy measure for layoffs, during the week ending July 18, fell to its lowest level since 1973, when total employment was nothing like as high as it is now.
In both June and July of this year, total housing starts in America climbed above 1.2 million units (annualized) for the first time since before the recession. This was the logical result of residential building permits bettering 1.3 million units (annualized) in June.
And the almighty ‘greenback’ has become even more powerful, soaring above every other major currency, mostly by percentage changes that are in double-digits-plus.