Thursday, September 23, 2010

Unemployment filings jump back up

This article is about how the unemployment rate has grown even more. The first filings for unemployment rose to 465,000 this past week. The number was higher than economists' forecasts of 450,000 for the week. Both this week's higher figure, and the upward revision to last week's number disappointed investors, driving stock futures lower in pre-market trading. Initial claims had declined in the two prior weeks, giving investors some hope for the job market. But overall, the weekly number has made little progress since November, hovering in the mid to upper 400,000s and even moving to above 500,000 in mid-August. Since unemployment figures remain one of the defining measures of the recovery, economists say they're looking for weekly initial claims to trend below the current range before they're entirely optimistic about the economy. Do you feel the rise and peak in unemployment is a indicator that the economy is turning back around and things will began to get positive?

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