Employment Remains Ugly
May 12, 2011 at 12:37 PM EDT
Initial Claims for Unemployment Insurance fell by 44,000 last week to 434,000. However, last week was revised up by 4,000, so one could see it as a 40,000 decrease. This was worse than the expected level of 423,000. The trend in initial claims had been moving downward, although we saw some bumps along the way. [...]