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Jobless claims increase amid high hopes

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posted on Oct, 22 2009 @ 10:38 AM

531,000 people filed new claims for unemployment insurance in the week ending October 17, more than the 515,000 claims economists expected.

The index of U.S. leading economic indicators rose in September for a sixth straight month, indicating the economy is likely to expand into early 2010.

The measures propelling the leading index, including a declining trend in claims, rising stocks and low short-term borrowing costs, are stopping the erosion in consumer finances and reducing the risk the economy will backslide. Companies from Caterpillar Inc. to Google Inc. are among those reporting better-than-anticipated earnings and saying the worst slump since the 1930s is over.

“The recovery is here and it’s going to get a little stronger too,”

i remember reading a thread on here not too long ago about how the great depression hit when everything was expected to be fine and we were suppose to grow and be fine...

posted on Oct, 22 2009 @ 11:47 AM
That would be good news except...........

Caterpillar- Caterpillar reports 53 pct decline in 3rd-qtr profit on slumping sales, lifts profit outlook. Caterpillar has responded by dramatically cutting production and laying off thousands of workers. Since spotting signs of a recession last year, the company has cut 16 percent of its work force, which now stands at just above 94,000.

Analysts say renewed demand from developing countries such as China and Brazil, a weaker dollar that makes the company's products less expensive in overseas markets and rising commodity prices could brighten Caterpillar's prospects next year.

"Google had a strong quarter--we saw 7% year-over-year revenue growth despite the tough economic conditions," said Eric Schmidt, CEO of Google. "While there is a lot of uncertainty about the pace of economic recovery, we believe the worst of the recession is behind us and now feel confident about investing heavily in our future."

Read a little further to see that:

Revenues from outside of the United States totaled $3.14 billion, representing 53% of total revenues in the third quarter of 2009, compared to 53% in the second quarter of 2009 and 51% in the third quarter of 2008. Excluding gains related to our foreign exchange risk management program, had foreign exchange rates remained constant from the second quarter of 2009 through the third quarter of 2009, our revenues in the third quarter of 2009 would have been $166 million lower.


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