Claims in U.S. Unexpectedly Climb to Four-Month High

[DA60]

'More Americans unexpectedly filed applications for unemployment benefits last week, indicating companies let go of seasonal workers following the holidays.

Jobless claims climbed by 19,000 to 316,000 in the week ended Jan. 10, the most since early September, from a revised 297,000 in the prior period, a Labor Department report showed today in Washington. The median forecast of 48 economists surveyed by Bloomberg called for 290,000.'

Jobless Claims in U.S. Unexpectedly Climb to Four-Month High - Bloomberg


This is what happens when a Keynesian economy starts slowing the amount of milk available from the government teat.

 

[longview]

That is not good, I have seen this pattern before, and it is not pretty.
The Drop in oil prices has started a round of cutbacks in Texas, which has for the most
part been one of the bright spots.
This happened in the 80's, The country was hurting from say 1980 to 84, Texas was doing fine.
by 1986 the country was doing better, but the oil economy was falling apart.

 

[pinqy]

The question is whether this is juat a short term thing, as initial claims tend to bounce around, or the beginning of a trend. Right now it's still around pre-recession weekly claims levels, and it's just too early to say there's any upward trend.