Thursday, May 20, 2004

Jobless claims up 

But don't worry, it's just a blip.

Jobless claims last week rose 3.6% to 345,000, according to a report today that analysts describe as a small bump in a downward trend in the number of Americans applying for unemployment insurance.

Last week's small spike "is mildly disappointing but likely inconsequential," said Ian Shepherdson, an economist with a New York-based consulting firm. "There is every reason to expect claims to continue falling over the next few weeks," he said.
(via LA Times)

"Inconsequential" if you lost your job? When are we going to start outsourcing the analysts, anyhow?

Of course, the moving average looks better. But what's the bottom line?

Despite the optimistic showing on employment, the job market needs to get even stronger. The economy has lost a net 1.5 million jobs since President Bush took office in January 2001. Private economists said it will take time to recoup those losses.
(via LA Times)

Not to mention that the ones that will never be outsourced are the ones where "meeting the public" is part of the job description. Security guards, manicurists....

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