There is more conflicting data on the unemployment front. The good news is that new jobless claims fell by 52,000 to 565,000 in the past week. The four-week average fell to 608,000, down 10,000.
Now the bad news. The number of Americans claiming unemployment benefits rose to 6.88 million, a new high.
These numbers are confusing to say the least, leaving open speculation on both sides that the recession has ended. Economist John Ryding at RDQ Economics says that the recession may have ended in the second quarter.
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