Weekly Initial Jobless claims started with a 5-handle for the first time in 9 months... Via MarketWatch:
For the week ended August 14, initial claims rose 12,000 to 500,000. This is the highest level since the week ended Nov. 14, 2009. Claims have risen for three straight weeks.
Claims had fallen as low as a 427,000 level in mid-July but have worsened steadily since. Economists are troubled by the lack of vigor in the labor market. With the unemployment rate near double-digit levels, businesses and households do not have the confidence to spend and invest.
This week's rise was unexpected. Economists had been projecting a slight decline was in the cards.
For the week ended August 7, initial claims were revised up to 488,000 from a previously reported 484,000.
Not good.
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