|02-18-2010, 04:34 PM||#1|
Ring of Famer
Join Date: Aug 2007
Jobless claims and inflation are rising
Thank goodness the economy is improving so much according to the left or who knows where things would be at. But keep that spending going, that'll surely bring down the debt, forget though that goes against even Economics 101.
Jobless Claims, Inflation Jump as Economy Wobbles
Published: Thursday, 18 Feb 2010 | 8:39 AM ET Text Size By: Reuters
The number of U.S. workers filing new applications for unemployment insurance unexpectedly surged last week, while producer prices increased sharply in January, raising potential hurdles for the economic recovery.
Initial claims for state unemployment benefits increased 31,000 to 473,000, the Labor Department said on Thursday. That compared to market expectations for 430,000.
Another report from the department showed prices paid at the farm and factory gate rose a faster than expected 1.4 percent from December after a 0.4 percent gain in December, as higher gasoline prices and unusually cold temperatures helped boost energy costs.
"When you have PPI moving up and still no progress in the jobs situation, that doesn't bode well for continued improvement in equity prices," said Alan Lancz, president at Alan B. Lancz & Associates in Toledo, Ohio.