Weekly seasonally adjusted unemployment claims rose 22,000 to 496,000 from the prior weeks figure of 474,000. The weekly claims figure has come down from a peak of 674,000 in March of 2009. It is approximately 200,000 higher than before the recession started. Weekly unemployment is a good indicator of the overall labor market in the US.
The second chart show the longer term trend with unemployment claims hovering around 300,000 during periods of expansion as compared to 500,000 currently.
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