Jobless numbers better, but still bad

From Meteor Blades at Daily Kos:

while today’s Labor Department report on unemployment compensation claims shows a continuing downward trend that began last spring, it is increasingly likely the first month of job growth will not take place until 2010. And the report provides more evidence that we face the possibility of what is described by that insulting term invented in 1992, a “jobless recovery.”

….The drop in unemployment claims previously this month indicates that the number of layoffs in October – which we will find out about on November 6 – will be less than September’s unexpected surge. But there is a good chance layoffs will still be above 200,000 for the month and official unemployment will hit 10% or more.

CyberDisobedience on Substack | @aravosis | Facebook | Instagram | LinkedIn. John Aravosis is the Executive Editor of AMERICAblog, which he founded in 2004. He has a joint law degree (JD) and masters in Foreign Service from Georgetown; and has worked in the US Senate, World Bank, Children's Defense Fund, the United Nations Development Programme, and as a stringer for the Economist. He is a frequent TV pundit, having appeared on the O'Reilly Factor, Hardball, World News Tonight, Nightline, AM Joy & Reliable Sources, among others. John lives in Washington, DC. .

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