Friday, October 16, 2009

Weekly Unemployment Claims Continue to Drop

The number of new weekly unemployment claims dropped by 10,000 to 514,000 from 524,000 claims the prior week. The number is also 40,000 less than the two week old figure of 554,000 claims on September 26th, 2009. So a small bit of good news in the recession. However, one must be careful to the huge number of overall unemployment claims.

The long term trend is more disturbing. You can see the giant spike in unemployment claims during the recession when claims jumped from the low 300 thousands to over 600 thousand new claims.

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