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In sign that the battered labor market might be close to turning around, new applications for unemployment benefits have dropped significantly from March's high levels. However they are still above the 400,000 mark that analysts say would signal payrolls growth.
http://news.moneycentral.msn.com/provider/providerarticle.aspx?feed=OBR&date=20091203&id=10827478
I'm still not buying the argument that the labor market may be turning around. The numbers are deceiving. For the most part our economy is moving sideways. Perhaps labor is moving sideways too, but any serious decline in those numbers requires businesses to begin spending again. And for that the banks need to start lending instead of using their funds to play in the market casino.![]()