Despite the recent uptick in stock index futures over the past several days, it's getting worse, folks! Today's announcement of new jobless benefit claims, covering a period of just a single week, added more than 58,000 new unemployed to the rolls last week, reaching a 26-year high of 573,000 on benefits. This is another sign that the economic prospects are worsening, and at a faster pace. The rolls of continuing unemployed (includes those not receiving unemployment benefits) reached a new high of 4.13 million Americans, also. Surprisingly, stock index futures moved modestly higher over the past hour following the report. Thursday, December 11, 2008
58,000 New Jobless Last Week!
Despite the recent uptick in stock index futures over the past several days, it's getting worse, folks! Today's announcement of new jobless benefit claims, covering a period of just a single week, added more than 58,000 new unemployed to the rolls last week, reaching a 26-year high of 573,000 on benefits. This is another sign that the economic prospects are worsening, and at a faster pace. The rolls of continuing unemployed (includes those not receiving unemployment benefits) reached a new high of 4.13 million Americans, also. Surprisingly, stock index futures moved modestly higher over the past hour following the report. 
