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U.S. Jobless Claims Fall But Recession Fears Remain

The U.S. Labor Department said that fewer new claims for unemployment benefits were filed for the week ending September 17, but the decline is not sufficient to ease fears that the economy is still headed for recession. The total number of new claims for the week was down by 9,000 from the week before to 423,000.

Global markets remain jittery as Eurozone officials attempt to prevent a collapse of the euro as the Eurozone struggles with massive debt loads. The U.S. economy continues to show signs of weakness confirmed by last week’s statement from the Federal Reserve noting “significant” risks to the economy. These factors have most analysts predicting unemployment growth will weaken in the coming months.

Source: Reuters [1]

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Scott Boyd

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