Thursday, July 9, 2009

Jobless Benefits Dropped 52,000 to 565,000 in the United States

Jobless benefits dropped 52000 to "a seasonally adjusted" 565,000 in the week ended July 4.

Numbers have mildly improved. However a drop of 52,000 seems to have been atributed to a shift by the auto industry to later layoffs for the summer. So although the numbers seem to have improved there is still continued weakness in the job market.

It is a good sign with commodity prices drifting lower. With these higher prices we will continue to see continued weakness in consumer spending, and capital ex. So with a decline in prices and decline in currency pressure this decline will not seem as bad.

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