Weekly Jobless Claims Reach Eight Month High
The number of people who filed new applications for jobless benefits (also known as unemployment benefits) had made a turn in the wrong direction. This week the jobless claims increased by 43,000 to a seasonally adjusted 474,000 for the week.
The Labor Department claims this surprise jump in jobless claims is due to Spring Break even though this is a seasonally adjusted number.
Are we sitting on top of the fence of another recession?