Initial claims for unemployment insurance were little changed over the past week, hovering around pandemic-era lows as the jobs market continues to improve. First-time filings totaled 353,000 for the week ended August 14, 2021. This was slightly above the previous week’s 349,000. Gross Domestic Product (GDP) increased at a 6.6% annualized pace in the second quarter. The Commerce Department reported that this increase was ahead of the 6.5% initial estimate. LOOKED AT IN TOTAL, THESE REPORTS SHOW AN ECONOMY THAT IS RAPIDLY GROWING THROUGH THE TAIL-END OF A PANDEMIC. It is our firm belief that economic growth in the tail-end of the third quarter and through the fourth quarter is likely to continue expanding rapidly – further propelling our client’s carefully selected portfolio elements! Onward and upward!
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