Network News

X My Profile
View More Activity
2.7%  Q1 GDP    4.57%  avg. 30-year mortgage     9.5%  Unemployment

Weekly Jobless Claims Spike

The three-week jump in stock prices has been, according to many traders, a result of economic results coming in "better than expected." The message: It could have been worse, so let's be happy.

But this morning, traders are learning that the number of people filing for first-time unemployment claims last week jumped more than expected. Claims increased 12,000 to 669,000, the highest rate since 1982.

"It would be an exaggeration to call this a firm rebuttal of the better data of recent weeks, but it is nonetheless quite striking," Ian Shepherdson, chief U.S economist for High Frequency Economics, wrote in a note to clients.

-- Michael Rosenwald

By Michael S. Rosenwald  |  April 2, 2009; 9:05 AM ET
Categories:  The Ticker  
Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   Del.icio.us   StumbleUpon   Technorati   Google Buzz   Previous: Bank of America CEO: We Took Too Much TARP Money
Next: Stocks Trading Higher at Opening

No comments have been posted to this entry.

The comments to this entry are closed.

 
 
RSS Feed
Subscribe to The Post

© 2010 The Washington Post Company