Catherwood LibraryILR School

Government data released earlier this week that showed the US rate of jobless claims has reached its highest point since November, has negatively affected the stock market, bringing down stocks over continued concern over a weak economy, and slow recovery. Economists had expected jobless claims to fall, and were shocked and worried when numbers jumped significantly, up 22,000 to almost 500,000 claims. The sell-off was described as quick, which some experts say is generally a sign more of shock than of actual disappointment. However, as it is also the second straight week of unemployment increase, other experts are still wary. Still others believe, or perhaps hope, that the bad weather is to blame, as a back-log of unemployment claims built up as people waited to file, or because seasonal employment, such as construction, has been disrupted.