Weekly Initial Unemployment and Jobless Claims Report – Consensus Expects 450,000 from Labor Deparment
Posted on | July 21, 2010 | No Comments
The weekly initial unemployment and jobless claims report will come out tomorrow, Thursday, July 22nd, 2010 and the consensus is that the Labor Department will report a jump to 450,000 from 429,000 last week. Last week we saw the lowest number for unemployment and jobless claims since the beginning of 2008. There is a great chart available at this link that illustrates that the high for weekly initial unemployment and jobless claims came in March of 2009 and we have been on a downtrend since. Not so ironically, the stock market low was set in March of 2009 as well.
With a jump to 450,000 we will be bouncing off a low but we will still be much lower than the 600,000 plus numbers we saw back at the beginning of 2009. The chart available is a great visual of how the overall economy is doing and what we can expect in the near future. If the trend continues to move down then the economy will be improving with the unemployment rate dropping and businesses likely making more money. If the 429,000 was a 2010 low then we could see some difficult times ahead for the US economy.
Author: Jesse Wojdylo
Ask Wojdylo Column – Financial, Entertainment and Sports news with a money spin.
Tags: initial jobless claims report > jobless claims report > jobless report > unemployment claims > unemployment claims report > weekly initial unemployment claims > weekly jobless claims > weekly jobless report
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