Jobless Claims Rise Unexpectedly

Jobless Claims Rise Unexpectedly

According to the Wall Street Journal, the number of U.S. workers filing unemployment rose again last week by 22,000 to a total of 496,000 initial claims for the week ending February 20th. This unexpected surge in claims is thought to have been contributed by the major snow storms which left many people without work.

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Housing Starts Rose 2.8% in January

Housing Starts Rose 2.8% in January

Construction on new housing posted better-than-expected results, for an increase of 2.8% in the month of January. This is the highest level of activity for housing starts in six months. This positive report is thought to have been influenced by the first-time home buyer tax credit and the low mortgage rates. It is also a sign that the housing market may be stabilizing, and recovering slowly but surely.

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