Unemployment Expected to Remain Stable or Rise Slightly Tomorrow

Analysts are projecting that unemployment will remain flat this month at 9.5%, and may even rise slightly. The report will be revealed tomorrow but the government said today that first-time claims for unemployment benefits rose last week to their highest level in four months. Specifically, they rose by 19,000 to a seasonally adjusted 479,000 and did not drop slightly, as analysts expected. This is the first time experts have predicted a potential increase in the overall unemployment numbers since the crisis began, suggesting the possibility of a double dip situation. However, most economists are denying such a scenario, while still admitting that businesses are not hiring and the recovery is in serious jeopardy.