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The number of people receiving jobless benefits exceeded 6 million for the first time, the government reported Thursday, and housing construction unexpectedly plunged to its second-lowest level on record — fresh evidence that the recession is far from over. Analysts expect the labor market to remain weak for the most of this year with companies reluctant to hire new workers until an economic recovery is well under way. And the latest housing data show the slump in that market, a major factor in triggering the recession, has yet to hit bottom.
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Meanwhile, the Commerce Department said construction of new homes and apartments dropped 10.8 percent last month to a seasonally adjusted annual rate of 510,000 units, the second lowest pace on records that go back 50 years.
" For the second straight week the number of people filing new benefits claims dropped more than expected, and single-family home construction, while depressed, appears to be leveling off.
The Labor Department said Thursday that its tally of initial unemployment claims dropped to a seasonally adjusted 610,000 from a revised 663,000 the previous week. That was significantly below analysts' expectations of 655,000 and the lowest level since late January.
Ian Shepherdson, chief U.S. economist at High Frequency Economics, said initial claims are likely to increase in coming weeks, though likely at a slower pace than earlier this year."
As usual, you failed to include the above.Thanks for trying..
But, but, but......What about all the money Obama is spending???? Wasn't that suppose to add or save 4 milliion jobs????? Why are unemployment numbers continuing to climb? Obama is spending trillions so shouldn't things be on the upswing????????
Last edited by gsupstate; 04-16-2009 at 11:54 AM..
But, but, but......What about all the money Obama is spending???? Wasn't that suppose to add or save 4 milliion jobs????? Why are unemployments numbers continuing to climb? Obama is spending trillions so shouldn't things be on the upswing????????
Probably will save the union jobs in the future. Provide more jobs for non-union members? Not so much.
But, but, but......What about all the money Obama is spending???? Wasn't that suppose to add or save 4 milliion jobs????? Why are unemployments numbers continuing to climb? Obama is spending trillions so shouldn't things be on the upswing????????
It takes longer than 3 months for grass to take root in some areas. I guess you have to complain about something, why not the HNIC. At least that's three things to cling to, guns, religion and hating Obama.
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