"New jobless claims drop; sales improve; But rebound still is apt to be slow" by Martin Crutsinger, Associated Press | May 8, 2009
WASHINGTON - New applications for jobless benefits plunged to the lowest level in 14 weeks, a possible sign the massive wave of layoffs has peaked. Still, the number of unemployed workers getting benefits climbed to a new record. And yesterday DuPont said it will cut another 2,000 jobs as falling orders from its automotive and manufacturing sectors eat away at sales.
Retail results improved, however, as Wal-Mart Stores Inc. and others reported April sales figures that beat expectations. Analysts acknowledged the positive signals, but cautioned that any recovery will be subdued as long as unemployment stays high.
Yeah, isn't it great that Wal-Mart is profiting from the destruction of the American standard of living?
The Labor Department reported yesterday that the number of newly laid off workers applying for benefits dropped to 601,000 last week - far better than the rise to 635,000 claims economists had expected.
Gee, 30,000 out of 600,000+ is FAR BETTER, huh?
But the total number of people receiving jobless benefits climbed to 6.35 million, a 14th straight record....
Something STINKS, readers, and it is the U.S. ECONOMY!!!!
Meanwhile, retailers' business last month was helped by warmer weather, tax refunds, and a shift in the Easter holiday, helping Wal-Mart and many mall clothing chains post better-than-expected results. But....
Sigh.
In a separate report, the government said that productivity, the key ingredient to rising living standards, grew at a 0.8 percent annual rate in the January-March quarter, slightly better than the 0.6 percent increase economists had expected....
Yeah, the lying government will revise that down later!
Related: Government Continuously Lying About Economy
Many workers are more concerned about keeping their jobs in the recession than demanding higher wages....
And CUI BONO, 'eh, globalist managers? No rabble to deal with.
