April 23, 2010
It seems that they don’t. The Labor Department reported that there were 456,000 new claims for unemployment insurance benefits last week. The 4-week moving average was 460,250. Generally the economy will not be generating jobs if claims exceed 400,000. In the first 8 months of 2008, when the recession had already begun but before the financial crisis, claims averaged around 370,000 a week.
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