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Thursday, September 4, 2008

Weekly Unemployment Up

The jobless claims for last week unexpectadly turn higher.  New claims jumped higher by 15,000 last week.  It climbed to a seasonally adjusted 444,000.  The prior weeks were revised higher from 425,000 to 429,000.  
In a seprate report, US private employers cut 33,000 jobs in August.  So tomorrows job numbers is going to be critical.  

The jobs markets seems to be barely staying above water.  I've been saying two things about housing market.  Watch the labor market and the mortgage rates.  While mortgage rates have come down a little bit, the labor markets seem to be getting worse.  




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