Unemployment Claims Report

Is less bad news a good news? Some might say last week’s unemployment claims report might seem like it is. The figure for initial claims was down 16K from the previous week to 614,000. The four week moving average tumbled at a lower pace, and the figure came out to 615,250, down by 2,750 from the previous week’s revised average of 618,000.

On the other hand, not all’s good with the report. The unemployment rate has gone up from 9.4% to 9.5%, so already unemployed people like me have been joined by more and more people last week.