Growth Recession or Bump in Road? US Unemployment Rate & Initial Unemployment Claims Rose Last Month

[cieldumort]

Despite the addition of another solid month of jobs gains in the private sector according to the medium to large sized businesses who were sampled, initial jobless benefits claims and also the official U3 Household Survey Unemployment Rate both rose significantly last month.

Initial Unemployment Claims (Source: Econoday.com)

Comments

[kayjayuu]

With limited news access today, ABC's World News Tonight was positively giddy about the "Winning Week" that started with bin Laden and ended with jobs up and oil down! Wheee! They were all over those jobs created, highest increase in five years! Wheee!

It wasn't until I came here to the killjoy of higher unemployment as well that I heard there were other numbers to look at.

Surprise! Wheee!

[cieldumort]

lol

Yeah. It never ceases to amaze me how stories can tend to run so one-sided. I chose to put this post up, mostly because I have seen primarily rose-tinted takes on today's jobs reports (when the truth is much more nuanced right now).