INITIAL UNEMPLOYMENT CLAIMS ON THE RISE …
Looks like there could be more bad news where April’s anemic jobs report came from …
According to data released this week by the U.S. Bureau of Labor Statistics (BLS), initial claims for state unemployment benefits unexpectedly shot up from 274,000 to 294,000 – their highest level since late February of last year. Analysts had predicted a modest dip to 270,000, but the sharp uptick revived fears about the fundamental health of the American labor market.
Last week, BLS data showed weaker-than-expected monthly jobs growth – and an uptick in the number of working age Americans not participating in the labor force. Recent consumer comfort data has also slipped, likely in response to deteriorating job prospects.
Additionally, overall economic growth (both actual and projected) continues to underperform.
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4 comments:
This is the info few pay attention to. The MSM only reports the initial reports but not the final because the final is not promising. We're looking at around 95M people out of work and most have stopped looking because there are NO JOBS! Yet, Verizon workers are striking. Smart?
So, the recession deepens into a depression AGAIN.
Recession gives reason to go to war and then boost fake GDP numbers. Its good for the "economy".
Economy is tanking, time to go to war.
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