Thursday, December 30, 2010

Jobless Claims at 2 1/2 Year Low

This is going to really make Paul Krugman squirm, since he was on the Rachel Maddow Show just last week calling for a massive new stimulus program. Not only will he be proven wrong about the coming overall inflation, but he will be proven wrong about the direction of the economy.

Well, it's a manipulated recovery, but he doesn't understand the difference.

Initial unemployment claims declined by 34,000 to 388,000 in the week ended Dec. 25, the first time the figure has dropped below 400,000 since July 2008, according to the BLS.

Keynesian economists surveyed by Dow Jones Newswires had expected claims would fall by just 2,000.

In another recent report, the BLS said that here were 3.4 million job openings on the last business day of
October. This was a job openings rate increase over the prior month of 2.5 percent.

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