Light at the end of the tunnel: Weekly jobless claims jump 22,000 to 496,000

[Karmadillo]

http://www.marketwatch.com/story/weekly-jobless-claims-jump-22000-to-496000-2010-02-25?reflink=MW_news_stmp

WASHINGTON (MarketWatch) -- The number of people filing first-time claims for state unemployment benefits rose last week by 22,000 to a seasonally adjusted 496,000, reflecting a lull in job growth so far in 2010.

Jobless claims have risen in six of the first eight weeks of this year, according to data from the Labor Department.

The recent spike in claims, a reversal from the sharp drop seen during the last six months of 2009, has stoked concerns that the nation's labor market could be weakening again, although bad weather affected the data. Snowstorms in the Northeast created a backlog in completing paperwork for jobless claims, a Labor Department spokesman said.

In any event, there has been little sign that companies are starting to hire. Many businesses are showing reluctance to make add workers because of weak demand for their products and uncertainty about major legislation pending in Washington, among other factors.

more...

[marmar]

1. That light at the end of the tunnel is the Shining City on the Hill.....

...... IT'S ON FIRE !!!

[DJ13]

2. Light at the end of the tunnel

[Individualist]

4. You beat me to it

:thumbsup:

[leftstreet]

3. It's a Jobless Recovery, so this is actually good news!

(:sarcasm:)

[DisgustedInMN]

5. That's gonna piss off...

... the happy graph poster.

:yoiks:

[damyank913]

6. I believe there is something to be said for the bad weather.

At the rate it's going we're not gonna have realistic numbers until the springtime.

[taught_me_patience]

7. "It's just a freight train coming your way..." n/t