I Won’t Say “Unexpectedly”

I’ll just say, “Well, I’ll be a Monkey’s Uncle!

Not-So-Great News for Jobless Claims and GDP

The number of Americans filing new claims for unemployment benefits rose more than expected last week, but probably not enough to suggest the labor market recovery was taking a step back.

Also, the U.S. economy expanded at a sluggish pace in the fourth quarter although a big gain in business investment and higher exports of services led the government to push up its previous estimate for growth.

Gross domestic product expanded at a 0.4 percent annual rate, the Commerce Department said, just below the 0.5 percent gain forecast by analysts in a Reuters poll.

The growth rate was the slowest since the first quarter of 2011 and far from what is needed to fuel a faster drop in the unemployment rate. It was, however, higher than the government’s previous estimate of a 0.1 percent growth rate.

Overall, the news for the economy wasn’t great Thursday.

2 Responses to “I Won’t Say “Unexpectedly””

  1. mojo says:

    The economic equivalent of Cheyne-Stokes respiration.

  2. Kathy Kinsley says:

    lol – and I’ve this earworm for the last week or so. might as well pass it on.
    Have fun. I will say it’s much an improvement on Terry Jacks. You google. But don’t click.

    Monkey’s Uncle indeed. 😛

    But that song has it right.

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