Jeanna Smialek of Bloomberg reports that:
The number of Americans filing for unemployment benefits unexpectedly rose last week to a two-month high, interrupting a steady decrease to the lowest level since before the last recession. Jobless claims climbed by 11,000 to 315,000 in the week ended Sept. 6, which included the Labor Day holiday, a Labor Department report showed today in Washington. It was the highest reading since June 28 and compared with a Bloomberg survey median forecast of 300,000.
This report, coming just after the exceedingly disappointing unemployment number for last month is reason to be skeptical, at the very least, that the recovery is gaining steam. And reason to feel some trepidation about a possible stall.
Even weak and fitful recoveries eventually run out of steam and the economy falls into recession.
