First time unemployment claims rose again this week to 474,000. It’s the third increase in four weeks. There were a lot of excuses for it, but supposedly the numbers have to get into the low 300,000’s before steady job growth is considered real.
This morning (May 6) it was announced 224,000 new jobs were created last month in the U.S. , lots more than expected, but the unemployment rate increased to 9%, meaning a lot of “discouraged workers” had entered the force looking for work.
A broader measure of joblessness also rose form 15.7 to 15.9%. This includes people who work part time, but want to work full time and people who have stopped looking.