Thursday, March 05, 2009

Thursday Is New Jobless Day

Down a bit, but still in holy crap (academic economist jargon) territory.

The Labor Department said initial claims for state unemployment insurance benefits fell by 31,000 to a seasonally adjusted 639,000 in the week ended Feb. 28 from an upwardly revised 670,000 the prior week. Analysts had forecast new claims at 650,000 last week.

Monthly report comes out tomorrow. Consensus forecast says -650K jobs. I'll take the under bet, betting job losses will be higher.