Another Thursday, another report of first-time jobless claims well over 400,000:
The number of people who filed for unemployment assistance in the U.S. last week rose unexpectedly, official data showed on Thursday.
In a report, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending August 19 rose by 5,000 to a seasonally adjusted 417,000, confounding expectations for a decline to 405,000.
The previous week’s figure was revised up to 412,000 from 408,000.
In a couple Fridays from now, we’ll get the BLS jobs report for August — and it’s going to be another ugly one. I might have to forego my monthly analysis and go straight for the tequila.
Yeah, these days even my booze is made in Mexico.