what a spin. A decrease in new unemployment claims has nothing to do with an improving job market. Just because fewer people lost their jobs does not mean the economy is improving. It simple means industry is running out of people they can terminate and still operate. The small number difference between projected and actually is hardly of significance.
U.S. Jobless Claims Unexpectedly Fall As Labor Market Mends
Fewer Americans filed applications for unemployment benefits last week, a sign the labor market may keep improving after employment picked up in July. Jobless claims unexpectedly dropped by 6,000 to 361,000 in the week ended Aug. 4, Labor Department figures showed today in Washington. The median forecast of 43 economists surveyed by Bloomberg News called for an increase to 370,000. A spokesman for the agency said there was nothing unusual in the data. Fewer firings mean employers are seeing enough demand to retain staff, indicating the world’s largest economy is sustaining the recovery from the recession. Labor Department data last week ... (full story)
- Posted: Aug 9, 2012 8:44am
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