Weekly jobless claims rise more than forecast – last week revised higher; Moody’s says US could lose AAA rating without deficit cuts..

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WSJ:

Stock futures pulled back from their early morning highs Thursday as the number of U.S. workers filing new claims for jobless benefits rose more than economists expected last week….

…Weighing on stocks, the U.S. Labor Department said initial claims for jobless benefits rose by 11,000 to 531,000 in the week ended Oct. 17. The previous week’s level was revised from 514,000 to 520,000.

Economists surveyed by Dow Jones Newswires had expected only a slight increase of 4,000, with the report serving as another sign of tough times for the jobs market….

Moody’s tells the WH and Congress to STOP SPENDING (in so many words, lol, we need to get the deficit down and no SANE person would raise taxes in a recessionary, zero job growth environment, right? Bueller? Bueller?!):

The United States, which posted a record deficit in the last fiscal year, may lose its AAA-rating if it does not reduce the gap to manageable levels in the next 3-4 years, Moody’s Investors Service said on Thursday.

The U.S. government posted a deficit of $1.417 trillion in the year ended Sept. 30 as the deep recession and a series of bank rescues cut a gaping hole in its public finances…

October 22, 2009. Tags: , , , , , , , . Economy, Labor Department, Obama Administration, Politics, Taxes, Unemployment Statistics, Wall St. Comments off.

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