Jobless Claims Increase to Eight Month High

Borrowers love todays super low interest rates But savers are very much out in the cold as returns on checking and savings accounts certificates of deposit and money market funds have dropped from small digits to near zeroThe harsh reality is that many people who depend on income from their savings to get by will have to make big changes or sacrifices in their lifestyles says Terry Nager president of Southern Capital Services an investment firm in Daphne AlaIf the dollars arent available account holders have to cut their standard of living go out on the risk curve to get more yield or seek employment if thats a possibility They have to do whatever it takes to survive he saysSavers who want other options dont have many choices but there are some alternatives to consider Heres a rundown of what you should know

Jobless claims increased to an eight-month high, corresponding with a drop in stock prices and a slight gain in the dollar's value. 

Initial claims for unemployment rose 43,000 to 474,000, the Labor Department reported Thursday. Economists questioned by Reuters had put the estimated figure at around 410,000. Claims are at their highest level since August.

Meanwhile, the dollar strengthened against several different global currencies, as its index rose .5%.

Gold and silver figures were down as well, in response to a nationwide pullback of commodities.

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