Modest bump for stock markets as reduced quantity of jobless cases tend to be submitted

It has been a while since the number of new jobless claims dropped. The common theme of employment has been of becalmed waters, though a small reprieve was because of the census and seasonal hires for the holiday retail season. Less unemployed cases is welcome good news, even if real estate is set to be read the last rites. The news is more a Pyrrhic victory than other things. Unemployment has held steadily since November of last year. On the plus side, it did cheer up stock markets. There was a slight boost on Wall Street as a result.

Minor reduction in new jobless claims

There was a reduction in new jobless claims for unemployment benefits, says the Department of Labor. The quantity of unemployed cases dropped 31,000 to a seasonally adjusted 473,000 since last week. A drop in new unemployment claims is encouraging, but the average of the last four weeks is nevertheless 486,750, the highest levels since November 2009, as outlined by 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. The United States of America Census also employed a fair amount of individuals seasonally.

Unemployed cases encourage stock market increase

As outlined by the Wall Street Journal, the news did some immediate good. It gave stock exchanges a very modest boost. The largest increase was .3 percent for Standard and Poor’s, a barely mentionable gain. The Dow went up an unbelievable .1 percent, and Nasdaq shot up .2 percent. The big news on Wall Street is really the Dell acquisition, though others try to stop it, of data storage company 3Par. There’s a big 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.

A long way to go before we sleep

This is not really an indicator of much in the way of unemployment radically decreasing. There just aren’t the jobs accessible anymore, and the economy keeps contracting. The real estate market has been nothing short of dismal, and it is estimated that 10 percent of all homeowners are at risk of foreclosure.

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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