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Thursday
Aug192010

Initial Jobless Claims Rise to Half a Million

DateThursday, August 19, 2010 at 08:51AM

For the third straight week, economists have proved to be too optimistic in their forecasts for initial jobless claims.  First time claims rose 12K to 500K this week, which is the highest level since November 2009 and 22K more than expected.  Pre-market futures, which had been up about half a percent, are now trading slightly lower.  Anyone holding their breath waiting for a recovery in jobs is probably blue in the face by now, if not passed out.

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