Initial Unemployment Claims Hit 500k For First Time in Months
From Econoday.com
Released on 8/19/2010 8:30:00 AM For wk8/14, 2010 PriorConsensusConsensus RangeActual New Claims - Level484 K480 K465 K to 495 K500 K4-week Moving Average - Level473.5 K 482.5 K Highlights
Initial claims are piling up, indicating that businesses are continuing to cut costs. Initial claims came in at 500,000 in the August 14 week for the largest total since November. The four-week average of 482,500 is the largest since December. A month-to-month look shows significant deterioration of 25,000 for a percentage change of nearly six percent. The Labor Department said special factors are playing no part in the data.
Released on 8/19/2010 8:30:00 AM For wk8/14, 2010 PriorConsensusConsensus RangeActual New Claims - Level484 K480 K465 K to 495 K500 K4-week Moving Average - Level473.5 K 482.5 K Highlights
Initial claims are piling up, indicating that businesses are continuing to cut costs. Initial claims came in at 500,000 in the August 14 week for the largest total since November. The four-week average of 482,500 is the largest since December. A month-to-month look shows significant deterioration of 25,000 for a percentage change of nearly six percent. The Labor Department said special factors are playing no part in the data.