Weekly claims for unemployment hit a high of 499K on Sept. 26th and have been essentially flat to slightly down for the past six weeks, with today's number coming in at 481K. This is not a picture of an economy spiraling into a depression. In fact, it looks like energy and commodity prices have stopped falling, as well as the Baltic Dry shipping index. We may have seen the worst.
Thursday, November 6, 2008
Unemployment claims have stabilized (2)
Weekly claims for unemployment hit a high of 499K on Sept. 26th and have been essentially flat to slightly down for the past six weeks, with today's number coming in at 481K. This is not a picture of an economy spiraling into a depression. In fact, it looks like energy and commodity prices have stopped falling, as well as the Baltic Dry shipping index. We may have seen the worst.
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