boxcar
08-12-2010, 10:31 AM
not!
As El Rushbo has rightly been saying for a long time now, "What recovery"?
You always gotta love articles like this when they report bad economic news. The magical formula (which I guess is supposed to mitigate the negative news) invariably contains these words or something very similar:
"First-time claims for jobless benefits edged up by 2,000 to a seasonally adjusted 484,000, the Labor Department said Thursday. Analysts had expected a drop. That's the highest total since February.
Initial claims have now risen in three of the last four weeks and are close to their high point for the year of 490,000, reached in late January. The four-week average, which smooths volatility, soared by 14,250 to 473,500, also the highest since late February.
Analysts said that the UNEXPECTED rise in claims suggests hiring in August won't be much better than July. The economy added a net 12,000 jobs last month after excluding the loss of temporary census positions." (emphases mine)
These "analysts" should definitely be considering a career change because their forecasts have left much to be desired about this "recovery" we've been in for what -- a year now? :rolleyes:
http://news.yahoo.com/s/ap/us_economy
Boxcar
As El Rushbo has rightly been saying for a long time now, "What recovery"?
You always gotta love articles like this when they report bad economic news. The magical formula (which I guess is supposed to mitigate the negative news) invariably contains these words or something very similar:
"First-time claims for jobless benefits edged up by 2,000 to a seasonally adjusted 484,000, the Labor Department said Thursday. Analysts had expected a drop. That's the highest total since February.
Initial claims have now risen in three of the last four weeks and are close to their high point for the year of 490,000, reached in late January. The four-week average, which smooths volatility, soared by 14,250 to 473,500, also the highest since late February.
Analysts said that the UNEXPECTED rise in claims suggests hiring in August won't be much better than July. The economy added a net 12,000 jobs last month after excluding the loss of temporary census positions." (emphases mine)
These "analysts" should definitely be considering a career change because their forecasts have left much to be desired about this "recovery" we've been in for what -- a year now? :rolleyes:
http://news.yahoo.com/s/ap/us_economy
Boxcar