January 29, 2009

Jobless claims hit record peak, orders plummet

According to Reuters: “The number of people remaining on the benefits roll after drawing an initial week of aid, or continued claims, rose 159,000 to a higher-than-forecast 4.776 million in the week ended January 17, the most recent week for which data is available.

  • The Labor Department said this was the highest reading since its records on this series began in 1967
  • Analysts had expected continued claims to be 4.65 million

1 Comment »

  1. Today we wonder where all of our jobs of gone (out sourcing), consider re-reading the aforementioned paragraph and contemplate what the answer could possibly be?

    Now China has decided it needs to shift gears from being an exporter of inexpensive, commercial products to more a higher level of manufactured goods requiring advanced technology.

    Comment by Tom Awtry — February 5, 2009 @ 6:05 am | Reply

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