A second report from the Labor Department, however, showed the number of Americans filing new claims for unemployment aid unexpectedly edged higher last week, reinforcing a view that the job market recovery has stalled.
Initial claims for state jobless benefits increased 1,000 to 427,000. Economists had forecast claims to drop.
First-time claims have now been perched above the 400,000 mark for nine weeks in a row. Analysts normally associate a level below that with steady job growth.
"It's the same dismal trend continuing. It's not getting worse, but it's not getting better either," said Keith Hembre, chief economist at Nuveen Asset Management in Minneapolis.
I find myself wondering why it is that every time the market drops, the deficit jumps, or the unemployment rate leaps up.......... it's "unexpected".. That kinda begs the question, "What was expected.... the market to climb, the deficit to disappear, the unemployment rate to plummet?"I don't think so, Pilgrims -- and I don't think you folks think so either. Only that group recently outed as the 'Ruling Class' thinks we are stupid enough to believe that the current numbers are 'unexpected'!
A pox on all their houses --- and after the pox cleans 'em out, maybe we can get experts who are!!!
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