Today, the Department of Labor released their latest read of Joblessness showing seasonally adjusted “initial” unemployment claims declined by 5,000 to 457,000 claims from last week’s revised 462,000 claims while “continued” claims increased 28,000 resulting in an “insured” unemployment rate of 4.1%.
Today’s results, though still significantly elevated, continues to indicate that the descent to both initial and continued claims is continuing in earnest resulting in an almost textbook peak.
At this point, we are either in the "post-crisis" recovery or the "eye before the storm" of a double-dip.
Could the worst of the job-shedding be behind us? Is a major disappointment shaping up for 2010?
We will have to wait to find out.
Clearly, careful attention needs to be paid to these indices to see how they reflect the state of the job market as we move further into the end of the year and start of 2010.
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