Both the number of workers filing new applications for unemployment insurance and producer prices unexpectedly surged, dealing a setback to hopes the economy was showing a strong recovery.
Initial claims for state unemployment benefits increased 31,000 to a seasonally adjusted 473,000 in the week ended Feb. 13, up from an upwardly revised 442,000 the prior week, the Labor Department said.
Meanwhile, producer prices rose faster than expected in January as higher gasoline prices and unusually cold temperatures helped boost energy costs.
Thursday, February 18, 2010
In the last year I have yet to see unemployment figures adjusted downward.
Posted by traderrob at 5:42 AM