US jobless claims up modestly last week

A Help wanted sign is displayed in Deerfield, Ill., Wednesday, Sept. 21, 2022. The Labor Department reports on Thursday the number of people who applied for unemployment benefits last week. (AP Photo/Nam Y. Huh, File)

WASHINGTON (AP) — Slightly more Americans filed for jobless claims last week but the labor market remains one of strongest parts of the U.S. economy.

Applications for unemployment benefits rose to 230,000 for the week ending Dec. 3, up by 4,000 from the previous week’s 226,000, the Labor Department reported Thursday. The four-week moving average of claims, which smooths out week-to-week volatility, rose by 1,000 to 230,000.

Jobless claims are seen as a proxy for layoffs, and combined with other employment data, show that American workers are enjoying extraordinary job security at the moment. That’s despite an economy some see in danger of tipping into a recession due to the aggressive actions of the Federal Reserve, which is trying to cool the economy by raising interest rates.

Many investors are familiar with the idiom that “cash is king.” It’s typically a rallying cry for bearish investors when equity markets are in a downturn. The idea is that when stocks are down, cash is a safe place to park your capital until better days arrive.

The purpose of this presentation isn’t to refute this timeless advice, but rather to help you think about it in a different way. We frequently remind investors that there’s money to be made in any market. But when equities are falling, it requires investors to sharpen their focus. And cash plays a role.

Specifically, investors should look for companies that have a strong balance sheet that includes access to a lot of cash. Not only does this mean that these companies can manage their debt, but it also means that they can use that cash to add shareholder value either through stock buybacks or, preferably for income investors, a healthy and growing dividend.

With that in mind, here are seven cash rich stocks that offer investors a level of safety in any market.

View the Stocks Here

Leave a Reply

Your email address will not be published. Required fields are marked *