Surprise, Surprise, Surprise!

An unexpected rise in jobless claims hits us right in the face as filings for unemployment benefits surged to 473,000. It had fallen the previous week and we thought that there was a little light at the end of the unemployment tunnel. It is looking like the labor market is not going to see the improvement this year as was expected.

While analysts expected a small decline, we actually saw an increase by about 31,000 to that horrific number of 473,000. The drop of 41,000 last week was a nice life in the labor market… a market that has lost 8.4 million jobs since December 2007, the start of the recession.

Time to reboot and refigure the jobs market once again.

This entry was posted on Thursday, February 18th, 2010 at 9:40 am and is filed under Employment News. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.