June 23, 2011

Unemployment numbers up

From Yahoo/Reuters:
Jobless claims data points to weak labor market
The number of Americans filing new claims for unemployment benefits rose last week, suggesting little improvement in the labor market this month after employment stumbled badly in May.

Initial claims for state unemployment benefits climbed 9,000 to 429,000, the Labor Department said on Thursday. Economists had expected claims to come in at 415,000.

The report was the latest in a long-running series of data to underscore the lingering weakness in the U.S. recovery and came a day after the Federal Reserve gave a gloomier assessment of the economy.

The claims report covers the survey period for the government's closely watched data on nonfarm payrolls for June, which will be released July 8. Claims increased 15,000 between the May and June survey periods, implying another soft month for jobs after a modest 54,000 gain in employment in May.
And the big fool says to push on... Posted by DaveH at June 23, 2011 1:28 PM
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