Jobless claims sink to near 2-year low

[xoxoxoBruce]

I will not divulge Griff's secret.
I will not divulge Griff's secret.
I will not divulge Griff's secret.
I will not divulge Griff's secret.
I will not divulge Griff's secret.
I will not divulge Griff's secret.
I will not divulge Griff's secret.
I will not divulge Griff's secret.
I will not divulge Griff's secret.
I will not divulge Griff's secret.

[classicman]

The labor market is weakening, which is making it more difficult to be sanguine about the job market and the recovery's staying power. Initial claims for unemployment insurance increased by 12,000 to 500,000 for the week ending August 14. Initial claims have risen for three consecutive weeks by a cumulative 40,000. The increase in new filings bucks expectations for a modest decline and puts initial claims at their highest since November. Continuing claims decreased by 13,000 to 4.478 million for the week ending August 7. Overall, this week’s data on initial claims are troubling, and they may pressure the Federal Reserve to put its contingency plan into motion.

from here