Now? Nothing to see here - move along; the 'summer of (Canadian) recovery' continues on track. Remember, less workers = more profits for corporates & more easy money for us all as the Fed gets more desperate and bewildered.. All part of the master plan to reach nirvana where no one in America needs to work, freeing us to shop 24 hours a day, while the Fed does QE #78 thru #93. We'll let the Canadians, Australians, Chinese, Brazilians, and Indians do the work. In return for their services and products, we will hand out "super cool" U.S Treasuries. Buy stocks.
- Applications for unemployment benefits in the U.S. unexpectedly increased last week to the highest level since November, showing companies are stepping up the pace of firings as the economy slows. Initial jobless claims rose by 12,000 to 500,000 in the week ended Aug. 14, Labor Department figures showed today in Washington.
- The government revised the prior week’s claims figure to 488,000 from a previously reported 484,000. Initial filings last week were the highest since the week ended Nov. 14, 2009.
- There were no special factors influencing last week’s data, a Labor Department spokesman told reporters as the figures were being released. Claims have increased in four of the last five weeks.
Remember if any bear confronts you with this data, yell at him/her "jobs are a lagging indicator" (offer to share your Kool Aid while at it)... we've been using this