New claims for jobless benefits rise sharply

The "New Normal" and "Jobless Recovery" are both Oxymorons espoused by normal morons.

Jim

The number of people filing new claims for jobless benefits jumped last week after three straight declines, another sign that the pace of layoffs has not slowed.

Initial claims for jobless benefits rose by 12,000 to a seasonally adjusted 472,000, the Labor Department said Thursday. It was the highest level in a month and overshadowed a report that consumer prices remain essentially flat.

The "new normal" implies, at least to me, a stable, possibly described as anemic economic state. The evolution of International debt crisis will be dynamic rather a static as described by "new normal". The ebb and flow of employment will be contained within an up drift of increasing unemployment.

Average Weekly Initial Claims State Unemployment (AWIC) And YOY Change:


Source: news.yahoo.com