Jim,
New jobless rise more than expected to 637,000:
Jobless claims jump to 637K; producer prices rise
Jobless claims rise more than expected on increased auto layoffs, producer prices also higher
Christopher S. Rugaber, AP Economics Writer
On Thursday May 14, 2009, 11:49 am EDT
WASHINGTON (AP) — Fresh reminders that the U.S. recession likely has passed its peak, but hasn’t ended, emerged Thursday in reports that first-time claims for jobless aid and wholesale prices rose more than expected.
Economists said the jumps, while bitter reminders of the country’s weak economy, were not cause for great concern. Jobless claims should ease after layoffs in the automobile industry are complete, while inflation remains under control.
The Labor Department said the number of new jobless claims rose to a seasonally adjusted 637,000, from a revised 605,000 the previous week. That’s above analysts’ expectations of 610,000.
Comments:
Expectations??? I went outside today and the sun was brighter than expected. When you tire of the spin, TURN IT OFF! The trends in place have nothing to do with expectations. AWIC acceleration could very well "pause" after an extremely hard run. I flagged 1975 as a comparable "pause" period before the 1978 reacceleration.
CIGA Eric
Jim,
I obtained this from an institutional report I receive from a friend:
"It would take fully four years of 325,000 per month job growth just to absorb the currently unemployed."
How is that for a "green shoot"?
CIGA Marc
