Thursday, June 23, 2011

Unexpectedly Bad News

How much longer can this sort of thing remain "unexpected?"
New U.S. claims for unemployment benefits rose more than expected last week, a government report showed on Thursday, suggesting little improvement in the labor market this month after employment stumbled in May.


Unemployment line
Initial claims for state unemployment benefits climbed 9,000 to a seasonally adjusted 429,000, the Labor Department said. The prior week's figure was revised up to 420,000. 

Economists polled by Reuters had forecast claims to edge up to 415,000 from a previously reported count of 414,000.

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