Four-week moving average rises; continuing claims drop sharply
WASHINGTON - The number of newly laid-off workers filing claims for unemployment benefits rose unexpectedly last week and retail sales disappointed in July. The latest government reports reinforced concerns about how quickly consumers will be able to contribute to a broad economic recovery in the U.S.
"There is really no positive spin to put on these numbers," Jennifer Lee, an economist with BMO Capital Markets, wrote in a research note. "The U.S. consumer remains very weak. The jobs situation, while slowly improving, is still dismal."
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7 comments:
Why don't you ever post anything positive on here? Like a story on how the worst of the recession is over. Because it is...
Over, it hasnt even started yet.
great 10:44, it's great to have an acclaimed economist visiting this blog. I thought I heard there was a record number of foreclosures today a long with an increase in uynemployment. The country is still in the middle east fighting a war against someone (not the jihadist according to the president), home sales and construction are still at horribly low numbers, companies are not hiring. The government is attempting to take control of a trillion dollar health care industry and completley butchered the cash for clunkers program at only a billion dollars. Sorry where is the positive?
Winter is coming and everything will slow down even more, if thats possible. The DEPRESSION is a long way from rock bottom. Wait til the credit card debt,(that a lot have been paying bills with) hits. This shit isnt over.
WHat about the ones that have exhausted their unemployment benefits, and still unable to find work, they are not listed in the statistics as being unemployed.
11:26 Who claimed to be an Economist? Though I did pass two economics classes in college which you probably did not. Thanks... we all know after reading your comment that you know less. Cash for clunkers received another 2 billion. We are fighting a war against terrorists in Iraq and Afghanistan, I know this because I was there fighting. And the housing market has turned as house prices are on the rise. So keep your smart ass comments to your worthless, pesimistic self.
Cold bust...
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