- Jobless claims remaining below 300,000 – the longest streak since 1970.
The unemployment rates in 13 states have hit record lows in October since the federal government first started recording state-level data, according to The Hill.
“The unemployment rates in Alabama, Hawaii, Maine, Mississippi, Tennessee, Texas and Washington all met or beat their lowest rates ever recorded by the Bureau of Labor Statistics (BLS), according to the agency’s monthly report issued Friday,” The Hill reported. “California, Colorado, Idaho, North Dakota and Oregon also hit new lows earlier this year.”
The news comes on the heels of a report showing 141 straight weeks of jobless claims remaining below 300,000. That’s the longest streak since 1970, when the labor market was much smaller. Moreover, these numbers take into account the economic impact of this year’s hurricane season.
“Hawaii boasts the lowest unemployment rate in the nation, at just 2.2 percent in October, followed by North Dakota, at 2.5 percent, and Colorado, Nebraska and New Hampshire, at 2.7 percent each,” according to The Hill.
( Fox Business ) A long list of U.S. companies announced $250 billion worth of business deals in China, coinciding with President Donald Trump’s visit with Chinese President Xi Jinping.
One of the highlights was Boeing (BA), which reached a $37 billion agreement to sell 300 planes to China. It was unclear if the deal was part of a prior announcement from Boeing that it would sell hundreds of jets to undisclosed buyers.
General Electric (GE) scored three deals in China valued at a combined $3.5 billion. Chip maker Qualcomm (QCOM) said it reached three non-binding transactions to sell $12 billion in semiconductors to Xiaomi, Oppo and Vivo over the next three years. Ford (F) and its Chinese partner, Anhui Zotye Automobile, agreed to invest $756 million in a joint venture to build electric cars. The joint venture was initially revealed in August.
( Fox Business ) According to a new study by WalletHub Opens a New Window. , which compared the 100 most populated cities in the U.S. among four categories—employment, economy, quality of life and health—Austin, Texas is the best place for veterans to live. Detroit was ranked as the worst city for vets.
The Texas capital was tied for first in the “lowest veteran unemployment rate,” a category critical to the overall success of a veteran returning from the service. According to the most recent data released by the Department of Labor, the veteran unemployment rate was at 2.7% in October Opens a New Window. , the lowest monthly veteran unemployment rate since 2000.
A key metric contributing to how well off veterans will be after leaving the service is the percentage of military skill related jobs in a city. WalletHub found the city with the highest number of these types of employment opportunities are in Fremont, Calif., which is located just outside Silicon Valley and has a population of more than 230,000 Opens a New Window. . Fremont also topped the list of the lowest percentage of veterans living in poverty. Overall, the city said its average household income is $114,000.
The city with the lowest percentage of military skill related jobs was North Las Vegas, Nev., while Baltimore, Md. was ranked as the city with the highest percentage of veterans living in poverty.
- The Dow has soared 28.5% since Election Day 2016
( Fox Business ) Stocks have been on a tear ever since President Donald Trump surprised the political world with an election victory on Nov. 8, 2016. In fact, on the one-year anniversary of Trump’s win, the Dow has booked its best-ever first year under a new administration since 1945.
The Dow has soared 28.5% since Election Day 2016, the fourth-best performance in history and the top mark since Franklin Roosevelt and his successor, Harry Truman, in 1945. Under Roosevelt and Truman, the Dow gained 29.83% in the first year, according to Dow Jones statistics. Trump has surpassed Bill Clinton, who saw the Dow move 26.5% higher in the year following his re-election in 1996.
Billionaire Saudi Prince Alwaleed Bin Talal arrested in corruption crackdown: Reports
- Alwaleed Bin Talal, a member of the Saudi royal family, was reportedly detained on Saturday.
- Saudi Arabia’s royal family ousted key officials and arrested others in a sweeping anti-corruption drive.
- Bin Talal is a very prominent investor with stakes in companies like Citigroup, Apple and Twitter, just to name a few.
Saudi Arabia’s King Salman removed a host of prominent officials in a sweeping crackdown, in which dozens of princes and former ministers were detained. News outlets, including Saudi-owned Al Arabiya, and The Wall Street Journal, reported Bin Talal was among those arrested. CNBC could not immediately confirm Bin Talal’s status.
SOROS HEDGE FUND MANAGER HOWIE RUBIN RAN A HUMAN TRAFFICKING ENTERPRISE – IMPRISONED WOMEN RAPED, ELECTROCUTED IN HIS NYC PENTHOUSE
( Daily Mail ) The manager of one of George Soros’ investment funds has been accused of leading a ‘human trafficking enterprise’ in which he allegedly raped, abused and imprisoned women in a Manhattan sex dungeon, according to a $27million law suit seen by MailOnline.
Former Bear Stearns trader Howie Rubin, 62, is accused by three women including two Playboy bunnies of raping and beating them in a rented $8million Midtown penthouse which he rigged with ropes, chains, and other BDSM equipment.
He is said to have lured dozens of women from all over the US by offering between $2000 and $5000 for ‘supposed companionship and photoshoots’ before assaulting some so brutally that they needed cosmetic and dental reconstructive surgery, according to the suit.
In one session the married father allegedly gagged a woman and shocked her with a cattleprod to the groin before raping her, according to the lawsuit.
In another he beat a woman’s breasts ‘so badly that her right implant flipped,’ for which he paid her $20,000 to repair, the papers filed by civil lawyer John Balestriere said.
Trump picks Jerome Powell to succeed Yellen as Fed chair
- President Donald Trump nominated Jerome Powell to run the Federal Reserve once current Chair Janet Yellen’s term expires in February.
- Powell led a diverse field of potential nominees that included former Governor Kevin Warsh, Stanford economist John Taylor, chief Trump economic advisor Gary Cohn and Yellen herself.
- Yellen’s term has been marked by a mostly uninterrupted bull market that began in March 2009 and low interest rates even as the Fed has sought to unwind the stimulus initiated during the crisis.
( CNBC ) President Donald Trump nominated Jerome Powell to run the Federal Reserve once current Chair Janet Yellen’s term expires, in a move widely expected and one unlikely to disturb the roaring stock market.
Trump made the announcement during a Thursday afternoon ceremony in the Rose Garden.
The move follows an extended period of speculation over who would be named to head the central bank, whose aggressive policies have been considered crucial to a climate of low interest rates, surging job creation and booming asset prices.
“Today is an important milestone on the path to restoring economic opportunity to the American people,” Trump said with Powell standing to his right and the prospective chairman’s family nearby. The president said the Fed requires “strong, sound and steady leadership” and Powell “will provide exactly that type of leadership.”
“He’s strong, he’s committed and he’s smart, and if he is confirmed by the Senate, Jay will put his considerable talents and experience to work leading our nation’s independent central bank,” Trump added.