2008-12-14 — blownmortgage.com
"This week, we had economic data coming in that reported much higher jobless benefits claims than had been expected. Over 573,000 claims were filed, nearly 50,000 than the benchmark estimate that economists had predicted. Of course, economists being wrong is by and large as reliable an event as the sunrise, so interpret that statistic as you will. The larger implication of the jobless numbers is the rather severe uptrend. Remember, the job market functions just like any other (relatively) free market. The laws of supply and demand largely determine hiring (or firing) cycles, which fluctuate naturally according economic conditions."
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