Archive for the ‘Influx’ tag
Initial Jobless Claims are "Useless" Due to Distortion, Economist Says
Claims for unemployment benefits in the U.S. rose to their highest
level since March 2002 with 455k initial claims reported
in the week ending Aug. 2, but economists say new rules that make it
easier to file a claim is putting upward pressure on the figures.
“The larger than expected rise is not a complete shock,” said TD
Securities economics strategist Charmaine Buskas. “The labor department
did recently announce a 13 week extension to the benefits period and this
has clearly caused a huge influx of re-filers.”