rssInitial Weekly Jobless Claims Remain High
Thursday, August 26, 2010 at 9:32 am
- 8 Comments
This morning, the Department of Labor announced that initial weekly jobless claims dropped from last week’s seven-month peak, which was revised upward from 500,000 to 504,000. But this week’s claims remain high at 473,000, with the four-week moving average, smoothing out one-week blips, at 486,750. Claims need to fall into the 300,000 range to imply a decline in the overall unemployment rate, which sits at 9.5 percent and is expected to climb in the fall.
Thus, the stall-out that started in January continues, with employers continuing to avoid hiring and large number of people losing their jobs.
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8 Comments
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Comment posted August 26, 2010 @ 3:52 pm
Which is no surprise really. Just continues to really give me worry at the discontent that continues to swell because of it all.
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