The PJ Tatler

Surprise! Jobless Claims Rise Again

These journalists must greet each sunrise with stuttering disbelief.

The number of Americans filing new claims for jobless benefits rose unexpectedly last week in a sign concerns about a weak economy were sapping an already beleaguered labor market, data showed on Thursday.

The inflation rate decelerated slightly in August as gasoline prices rose at a more modest pace and the cost of buying a new car held flat, the Labor Department said on Thursday.

And their shock comes even as their chosen experts are not shocked at all.

PETER KENNY, MANAGING DIRECTOR, KNIGHT CAPITAL, JERSEY CITY, NEW JERSEY:

“We got a lot of data that cannot be spun in any way other than we are continuing to see weakness, we are continuing to see a complete dearth of growth and frankly, it’s not a surprise. Markets reacted pretty much in-line, these numbers are not good, but they are not apocalyptic either. They are not good, they are trend confirming, so the recent rally we’ve seen this week is probably going to come under a little bit of pressure.”

Economic journalists: Expect the totally expected.