Weekly jobless claims increased 15,000 in the latest week to 576,000, and the four-week moving average rose 4,250 to 570,000. Continuing claims were nearly unchanged at 6.24 million.
Most of the economic data has been fairly positive of late. But the uptick in weekly claims, along with the still-high level, suggests not only another disconcerting employment number for August, but it implies the recovery that has probably begun will be very gradual. See L, W, U, V – the alphabet soup of economic recoveries.
And if history is any guide, gradual economic recoveries produce jobless recoveries.
For additional information, please see, Economy 101: What are weekly jobless claims?
0 comments:
Post a Comment