Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Quick Hits: Sudden Spike in Unemployment


Brief scrutiny of today's headlines.

Unemployment claims unexpectedly rose last week, the US Labor Department reports.

The increase in newly laid-off workers filing for benefits followed 3 weeks of declines.

New applications for unemployment insurance climbed to a seasonally adjusted 444,000, an increase of 15,000 from the previous week. Economists expected the total to dip to 420,000.

The increase in workers seeking unemployment benefits may suggest a slowing job market, but no great conclusions should be reached on a single week's data. The 4-week moving average dipped to 438,000, down 3,250 from the previous week.

For the same week last year, initial jobless claims stood at 320,000.

The number of workers continuing to receive unemployment benefits increased to 3.44 million for the week ending August 23, up 6,000 from the previous week, the Labor Department reported.

In a separate report, the Labor Department said productivity, or the amount of output for every hour of work, increased at a 4.3% annual rate in the second quarter. That was a full percentage point higher than expected.

Labor costs fell 0.5%. The combination of increased productivity and lower production costs may help ease inflation.
< Previous
  • 1
Next >
No positions in stocks mentioned.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
Featured Videos