Small increase pertaining to stock exchanges as decreased amount of unemployed cases tend to be submitted

It has been a when since the number of new jobless claims dropped. The common theme of employment has been of becalmed waters, though a slight reprieve was because of the census and seasonal hires for the holiday retail season. Much less unemployed claims is welcome good news, even if real estate is set to be read the last rites. That said, it’s not cause to celebrate as unemployment is as bad as it has ever been, having held since November of 2009. The news made Wall Street happy, as markets climbed ever so slightly when the news broke.

Small decrease for new unemployed cases

A drop was recorded within the quantity of new claims for unemployment benefits by the Department of Labor. The number of jobless claims still sits, adjusted seasonally, at 473,000, but that number dropped by 31,000 over the last week. A drop in new unemployment claims is encouraging, but the average of the last four weeks is still 486,750, the highest levels since November 2009, according to Forbes. That said, winter jobless claims have to be taken with a grain of salt, as holiday seasonal employment provides a slight spike for the busiest part of the retail year. There was also some temporary other employment. The Census was taken this year.

Unemployed claims encourage stock market rise

The news of lower jobless claims led to an uptick within the stock market, as outlined by the Wall Street Journal. The largest increase was .3 percent for Standard and Poor’s, a barely mentionable gain. Nasdaq climbed a staggering .2 percent. The Dow Jones needs to put Prozac in the drinking fountains, as the Dow only climbed .1 percent. However, the big news is less the fall in unemployment claims, but the activity concerning 3Par and Dell, as Dell has acquired the data storage company. There’s a large bidding war going on, and it is even bigger news than the Potash saga. Hewlett Packard and Dell are fighting it out for 3Par, and it is causing a huge firestorm of coverage.

Very little progress

The data released just means a small decrease in unemployment claims. There aren’t that numerous employers hiring. To make matters worse, it is estimated that 10 percent of homeowners may face foreclosure. The real estate market is totally within the tank.

More on this topic

Forbes

forbes.com/feeds/ap/2010/08/26/real-estate-industrials-us-economy_7879865.html

Wall Street Journal

online.wsj.com/article/BT-CO-20100826-709681.html