Initial Claims Can’t Hold

The claims out this week were another sign that the employment situation is not only stalling, but it could be getting worse. Yes, Bernanke lowered his unemployment rate outlook, but the FED was way off on their last forecast. They are economists for goodness sake and allowed to change the forecast when thy are wrong….


The claims this week came in at 388,000, worse than expected.   This is another in a continuing string of economic disappointments. The trend is not looking too healthy.