Unexpected!
Once again the numbers disappoint
NEW YORK (Reuters) – Stock index futures rose on Thursday as investors awaited weekly jobless claims data and earnings from technology giants Hewlett-Packard Co and Dell Inc for signs of improvement in the tepid economic recovery.
At 8:30 a.m. EDT, the Labor Department will report first-time claims for jobless benefits for the week ended August 14. Economists in a Reuters survey forecast 476,000 new filings, compared with 484,000 in the prior week.
The actual initial claims number climbed to 500,000.
WASHINGTON (AP) — New applications for unemployment insurance reached the half-million mark last week for the first time since November, a sign that employers are cutting jobs again as the recovery slows.
The Labor Department says initial claims for jobless benefits rose by 12,000 last week to 500,000, the fourth increase in the past five weeks. Wall Street economists forecast that claims would drop.
Unexpectedly, of course.
When will they admit that this Keynesian experiment has been a complete and utter failure?
Biz, Politics | Mr. Bingley | 
August 19, 2010 8:37 am
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They won’t, they can’t. But by God the stimulus is working says the emperor with no clothes.
This administration reminds me of the compulsive gambler in mob movies.
The one who puts himself in such a deep hole that they end up tied to a chair with their left hand lashed to a hardwood table and a large hammer aimed at their knuckles.