Jobless Claims Jump More Than Expected

There are real-life distortions in claims, you know. Auto re-tooling isn't some made up story, it happens every year. Seasonal adjustments are messing with that as well. If they jump 20k again next week, I might care, otherwise, its just week to week noise. They've been essentially flat for 6 months. I'm sure people will scream about the UE numbers tomorrow too, even though its widely expected to be a bad headline number because of the census effects.

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What I am concerned about is that unemployment might well remain high for the foreseeable future.

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Stop worrying about it....it WILL remain high for the foreseeable future. At least it will until employers know what the rules are which they will have to operate under, including taxation rules.

No business owner I know plans on any significant hiring until the smoke (and mirrors) clears up.