Thursday, January 21, 2010

Weekly Unemployment Claims Rise for 2nd week in a row

The Department of Labor released it's weekly unemployment claims figure for the week ending January 16th, 2010. The claims figure rose by 36,000 from 446,000 to 482,000. It was the second weekly rise in unemployment claims.

The jump could be due to seasonal factors related to end of year business layoffs. But a continued uptrend is a worrisome sign of a continued recession.

The good news is the long term trend is slowly downward after a huge peek in March of 2009.

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