But the stock market is UP!UP!UP! Here is a blast from the 1930s.
Posted on 05/16/2013 8:01:45 AM PDT by Justaham
The number of Americans seeking unemployment aid rose 32,000 last week to a seasonally adjusted 360,000, the most since late March. The jump comes after applications fell to a five-year low.
The Labor Department said Thursday that the less volatile four-week average rose just 1,250 to 339,250, a level consistent with modest job gains.
Julia Coronado, an economist at BNP Paribas, said the small increase in the average "highlight(s) the need to take volatile weekly readings with a grain of salt.... The underlying story in jobless claims continues to be one of gradual improvement."
Weekly applications are a proxy for layoffs. The big increase might mean companies are cutting more jobs, possibly because of steep government spending cuts that kicked in March 1.
(Excerpt) Read more at breitbart.com ...
But the stock market is UP!UP!UP! Here is a blast from the 1930s.
And all the other economic numbers stink too!
That makes no sense - completely unexpected. How could the low numbers from redefining employment and unemployment only last for the transition week?
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