Ouch! The moving average jumped higher also. This is probably going to kill stocks because it is so unexpected. But there is also a glimmer of good news. Productivity remains high. On the other hand, hours worked in non-farm activity continues to fall. It is also troubling to realize that job losses are no longer centered in housing, construction, and financial sectors. We are seeing more and more job losses in all other sectors of the economy, including even technology and pharmaceutical industries. Thursday, February 5, 2009
Jobless Claims Leap to 626,000
Ouch! The moving average jumped higher also. This is probably going to kill stocks because it is so unexpected. But there is also a glimmer of good news. Productivity remains high. On the other hand, hours worked in non-farm activity continues to fall. It is also troubling to realize that job losses are no longer centered in housing, construction, and financial sectors. We are seeing more and more job losses in all other sectors of the economy, including even technology and pharmaceutical industries. 
