Weekly Initial Unemployment Claims Up

Weekly initial unemployment claims were up to 496,000, marking another week of increase in claims. This implies more job losses in February and an unemployment rate likely to churn back up above its current level of 9.7%. According to Calculated Risk, the 4 week moving average of initial unemployment claims is at its highest level since November. The 4-week average is at 473,750. This is just more not so good news in a world full of not so good news...