Thursday, October 7, 2010

Initial claims at 445,000 this week

It was better than expected, but this number needs to be in the 300,000's for unemployment picture to get brighter.  And as long as unemployment is a problem pressure will be on housing prices.  8 million jobs have been lost in this recession.

Instead, Wall Street economists forecast that initial claims for jobless aid rose by 2,000 to 455,000 last week, according to a survey by Thomson Reuters. The Labor Department will issue its weekly report Thursday at 8:30 a.m.

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