New jobless claims rise more than expected to 640K - Shin, DC
New jobless claims rise more than expected to 640K.
New housing data also were worse than expected.
A year ago new jobless claims stood at 353,000.
Employers have cut 5.1 million jobs since the recession
began in December 2007 in an effort to slash costs.
the National Association of Realtors said home sales fell
3 percent to an annual rate of 4.57 million last month,
from a downwardly revised pace of 4.71 million units in February.
The International Monetary Fund estimated Wednesday that
the global economy would shrink 1.3 percent this year,
the first drop in more than six decades.
Michigan saw the largest drop in claims with 12,566, which it
said was due to fewer layoffs in the automobile industry.
The next biggest declines were in North Carolina, Missouri, Kentucky and Oregon.
New housing data also were worse than expected.
A year ago new jobless claims stood at 353,000.
Employers have cut 5.1 million jobs since the recession
began in December 2007 in an effort to slash costs.
the National Association of Realtors said home sales fell
3 percent to an annual rate of 4.57 million last month,
from a downwardly revised pace of 4.71 million units in February.
The International Monetary Fund estimated Wednesday that
the global economy would shrink 1.3 percent this year,
the first drop in more than six decades.
Michigan saw the largest drop in claims with 12,566, which it
said was due to fewer layoffs in the automobile industry.
The next biggest declines were in North Carolina, Missouri, Kentucky and Oregon.
posted by the blog at 4:37 PM
1 Comments:
Shin,
You have a lot of statistics, and the picture they paint is a bleak one. We hope the economy will bounce back soon and prosperity will reach all people, not only the few but the many.
Kevin
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