Unemployment Claims Rise, ETFs Fall
Thursday, June 17th, 2010Tom Lydon submits:
While shoppers got a break last month in slightly lower prices, the markets and exchange traded funds were far less enthused about yet another sharp increase in claims for unemployment benefits.
First-time claims for jobless benefits shot up by 12,000 to the highest level in a month. The four-week average for unemployment claims did dip slightly, but continued weakness in the unemployment real has kept real economic recovery at bay. Economists are concerned with how long it’s taking to see these numbers fall below certain levels.
