Thursday, April 03, 2008

Need more proof?

In case you weren't already convinced that we are heading, if not already there, for a recession this bit of information should further convince you... assuming you have control of your own brain.

The Labor Department reported today that “407,000 new applications for unemployment assistance were filed last week” (the highest level since September 2005) which is an increase of 38,000 from the prior reporting period and a staggerinly sharp increase from this time last year when there were only 319,000 jobless claims.

But remember, the economy is still basically sound, "inherently strong" or "apparently struggling"... depending on which conservative lemming you listen to...

1 comment:

IludiumPhosdex said...

And is it any wonder we may be seeing a lot of "spam" for "rebate processor" homework schemes claiming one could earn $225/diem by processing rebate requests for, and on behalf of, major retailers?