August 30, 2012

UNEXPECTEDLY: Jobless Claims Remain At One-Month High: “More Americans than forecast filed applications for unemployment benefits last week, a sign that progress in the labor market is faltering amid a slowing economy. . . . Jobless claims were little changed at 374,000 in the week ended Aug. 25, matching the upwardly revised figure from the prior week, the Labor Department reported today in Washington. The median forecast of 50 economists surveyed by Bloomberg News called for 370,000. The four-week moving average, a less volatile measure, climbed to a six-week high.” Expect this week’s numbers to be revised upward later. That seems to happen every time.