paulitician
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- Oct 7, 2011
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I know this Administration is shrugging this off but this isn't a good sign considering temporary Holiday hiring usually shows an uptick in employment.
New claims for unemployment benefits rose unexpectedly last week, popping above 400,000 for the first time in just over a month and reinforcing the view that the battered labor market was healing only slowly.
Initial claims for state unemployment benefits climbed to a seasonally adjusted 402,000 from an upwardly revised 396,000 in the prior week, the Labor Department said on Thursday.
Economists polled by Reuters had forecast claims at 390,000.
The U.S. economy has gathered steam in the second half of the year, expanding at a 2 percent annual rate in the third quarter. It could accelerate in the fourth quarter.
That could help the country avoid a new recession, which is expected in the euro zone. But economists still see a risk of a U.S. recession next year, especially if lawmakers allow extended unemployment benefits and a payroll tax cut to expire at the end of
Read more: Weekly Jobless Claims Unexpectedly Rise | Fox Business
New claims for unemployment benefits rose unexpectedly last week, popping above 400,000 for the first time in just over a month and reinforcing the view that the battered labor market was healing only slowly.
Initial claims for state unemployment benefits climbed to a seasonally adjusted 402,000 from an upwardly revised 396,000 in the prior week, the Labor Department said on Thursday.
Economists polled by Reuters had forecast claims at 390,000.
The U.S. economy has gathered steam in the second half of the year, expanding at a 2 percent annual rate in the third quarter. It could accelerate in the fourth quarter.
That could help the country avoid a new recession, which is expected in the euro zone. But economists still see a risk of a U.S. recession next year, especially if lawmakers allow extended unemployment benefits and a payroll tax cut to expire at the end of
Read more: Weekly Jobless Claims Unexpectedly Rise | Fox Business