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The startling rise in jobless claims
Thursday, January 21, 2010
Rick Santelli and others at CNBC look at the rise in jobless claims, up 36,000 to 482,000 for the week ending last Saturday. There's a fair amount of confusion about the latest increase - seasonal adjustment factors and claims reportedly piling up at state processing centers.
The Labor Department said the change was more related to administrative matters than economic matters but, the highest total since mid-November is, nonetheless, disconcerting.
2 comments:
I was expecting this. Coupled with the President's remarks on the banking sector and from here out things look grim for wall street.
Graduates are still far less likely to be out of work but the rate of unemployment for degree holders has risen faster than it has for young people with lower qualifications.
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