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Thursday, September 8, 2011

More bad news before THE Speech

Jobless claims rose to 414,000 from 412,000 for the week ending Sept. 3, the Labor Department reported Thursday. The unexpected rise in claims shows that while companies aren’t increasing layoffs, they also aren’t hiring, The Associated Press reported.

Stock futures slipped on the news, which added to unease over the U.S. economy. The rise in claims bolsters evidence of a weak job market, particularly following the government’s report last week that the country had added no new jobs in the month of August. 

The data comes in advance of President Barack Obama’s economic speech Thursday night. (Continues here)

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