Unemployment rising amidst uncertain economy

Due to the slowing economy, the number of Americans filing for unemployment benefits was higher than economists expected last week, with unemployment claims reaching 373,000. According to the Associated Press, economists forecast claims would be around 350,000 for the week ending February 23.

Due to the slowing economy, the number of Americans filing for unemployment benefits was higher than economists expected last week, with unemployment claims reaching 373,000. According to the Associated Press, economists had forecasted claims would be around 350,000 for the week ending February 23.

Bloomberg.com reports that weekly first-time unemployment claims have been averaging 343,500 this year, compared to 322,300 in 2007 and 313,000 in 2006.

“If you see a couple more moves like this, you have to get pretty worried that we may be slipping into a recession,” Michael Feroli, economist at JP Morgan Chase & Co, tells Bloomberg.com.

Also:

A number of new tech products, also known as babytronics, make life a little easier for parents of infants.

Girls as young as six are becoming the newest consumers of fashion and beauty products.

Google launches a new free Web site creation tool, adding to the list of products it offers to consumers.

Have you registered with us yet?

Register now to enjoy more articles and free email bulletins

Register
Already registered?
Sign in

Would you like to post a comment?

Please Sign in or register.