Unadjusted Year Over Year: Labor Department Initial Jobless Fall 11.8%

Here's the scoop on the Labor Department's weekly initial jobs claims report:

• Associated Press Headline And Lead: "First-time jobless claims drop less than expected... New jobless claims, factory order reports disappoint in fresh evidence of an uneven recovery... A drop in new jobless claims came in short of expectations and factory orders rose only slightly, fresh evidence the economy is recovering at a slow, uneven pace."
• Labor Department News Release: click here. 
• Key Numbers: "The advance number of actual initial claims under state programs, unadjusted, totaled 500,392 in the week ending Jan. 23, a decrease of 145,417 from the previous week. There were 620,143 initial claims in the comparable week in 2009."
• My Spreadsheet (click Download 20100128yoy).

Here's my uneducated interpretation - Still on track to have unemployment peak in June 2010 when comparing this downturn with the Internet Bubble recession. As you will recall, unemployment peaked for the Internet Bubble Pop recession in June 2003.

 

MontyHigh, www.worldofwallstreet.us