Nothing To Do, Nowhere To Go 0
First time initial claims for unemployment have dropped under 600,000 in quite a while. MarketWatch:
(snip)
The four-week average of initial claims fell 10,000 to 606,000. The four-week average smoothes out distortions in the week-to-week data.
(snip)
Last week the government reported that the U.S. economy shed jobs at a faster pace in June than in May, suggesting that the turnaround in the economy may take longer than expected. Nonfarm payrolls shrank by 467,000 in June, higher than the 325,000 decline expected by economists surveyed by MarketWatch and the 322,000 jobs lost in May. The unemployment rate ticked higher to 9.5% in June from 9.4%. Since the recession began in December 2007, payroll employment has dropped by 6.5 million
Still doesn’t get my next door neighbor a job.
