Under the radar: Some trends are obvious enough and visible to all investors. Others are more-subtle, but are just as potent, and these often slip 'under the radar.'

Case in point: U.S. continuing claims for unemployment. They fell by 148,000 to 6.69 million, the U.S. Labor Department announced Thursday. If the downtrend in 'CCs' is sustained, that would represent another 'green shoot,' -- or sign that the U.S. recession is bottoming.

Well, at least the U.S. Senate passed the fiscal stimulus package this week, because there was no statistically-significant improvement in U.S. jobless claims, according to the U.S. Labor Department announced Thursday. Claims remained above the troubling 600,000 level.

Initial jobless claims fell 8,000 to 623,000 for the week ending February 7. Claims for the previous week were revised to 631,000.

Initial jobless claims remain more than 90% higher than they were a year ago, as companies continue to cut employees amid falling demand.

Economists surveyed by Bloomberg News had expected this week's initial jobless claims to total 610,000. The 4-week moving average also rose 24,000 to 607,500.

It's a sign of the times: an increasing number of states are running out of money to pay unemployment compensation benefits.

Seven states have already depleted their employment insurance trust funds, according to the National Conference of State Legislatures (NCSC). Another 11 states are in danger of running out of money by the end of 2009.

What's more, states have borrowed $2.3 billion in emergency money from the U.S. government - - money that must be paid back - - to pay for unemployment compensation.

Yet another difficult data point for the U.S. economy: initial jobless claims surged 35,000 to 626,000 for the week ending January 31, the U.S. Labor Department announced Thursday, as companies continued to cut employees amid falling demand.

Initial jobless claims are now more than 90% higher than they were a year ago.

Meanwhile, continuing claims rose 20,000 to a another record: 4.88 million. It was the highest continuing claims level since record keeping for the statistic began in 1967, the U.S. Labor Department said.

The key stat is this week's U.S. unemployment data. Continuing claims, which rose 159,000 to a record 4.78 million Americans.

It was the highest continuing claims level since record keeping for the statistic began in 1967, the U.S. Labor Department announced Thursday.

Economists note that the high continuing claims level reflects labor market stress, and the long time it takes for those downsized to find comparable employment. Few companies are filling vacancies, many major corporations have announced large lay-offs, and even temporary work assignments are declining, another negative sign for the labor market.

No doubt Labor Department statisticians and media relations pros would love to release more pleasant news regarding jobless claims. But alas, they can't, if the job survey indicates otherwise.

U.S. weekly jobless claims approached 600k, rising 62,000 to 589,000 for the week ending January 17, the U.S. Labor Department announced Thursday. Equally distressing: weekly claims are now an astounding 82% higher than the same period a year ago.

Economists surveyed by Bloomberg News had expected this week's initial jobless claims to total 524,000. Claims for the previous week were revised to 519,250.

Also, continuing claims rose 97,000 to 4.607 million from last week's revised total of 4.51 million. Economists note that the high continuing claims level reflects labor market stress, and the long time it takes for those downsized to find comparable employment. Few companies are filling vacancies, and even temporary work assignments are declining, another negative sign for the labor market.

There's an upside / downside to this week's jobless claims data.

While U.S. weekly jobless claims actually fell 24,000 to 467,000, the total still is more than 40% higher than a year ago.

Meanwhile, continuing claims rose another 101,000 to 4.61 million -- the highest continuing claims total since December 1982. Economists note that the high continuing claims level reflects labor market stress, and the long time it takes for those downsized to find comparable employment. Few companies are filling vacancies, and even alternate and temporary work assignments are declining -- another negative sign for the labor market.

Economist Peter Dawson called the continuing claims level "horrible, indicative of extremely weak job creation conditions. The continuing claims level is approaching Reagan era recession totals, which was a bad recession."

Jobless claims closed out 2008 basically the way they came in: abysmally.

U.S. weekly jobless claims fell 94,000 to 492,000 for the week ending December 27, the U.S. Labor Department announced Wednesday, but the weekly total nevertheless remained 45% higher than a year ago.

Even worse, continuing claims rocketed 140,000 higher to 4.51 million -- the highest continuing claims total since December 1982. Economists note that the high continuing claims level reflects labor market stress, and the long time it takes for those downsized to find comparable employment. Few companies are filling vacancies, and even temporary work assignments are declining, another negative sign for the labor market.

Economists surveyed by Bloomberg News had expected this week's initial jobless claims to total 550,000.

U.S. initial jobless claims dipped during the most-recent reported week, but continuing claims hit a 25-year high -- a statistic that underscores the scope of the nation's job slump.

U.S. initial jobless claims fell 4,000 to 481,000 for the week ended November 1, the U.S. Labor Department announced Thursday. Claims for the previous week were revised to 485,000. Economists surveyed by Bloomberg News had expected this week's initial jobless claims to total 480,000.

However, continuing claims hit a 25-year high, rising 122,000 to 3.84 million for the week ended October 25. In addition, the 4-week moving average remained the same at 477,000. Economists view the 4-week average as a better indicator of unemployment conditions than initial claims, as it smooths-out anomalies for strikes, holidays, or other idiosyncratic events.

Economist Peter Dawson said rising continuing claims, which have increased about 46% in the past year, underscore job market conditions in the current recession.

"Layoffs proceed, but they're not enormous, so far. But there is no net job growth. In layman's terms, there are very few jobs available, it's hard to find employment once you've been downsized, and the continuing claims total is a direct indicator of that," Dawson said.

U.S. initial jobless claims remained at elevated levels, even after factoring-out the remaining effect of Hurricane Ike in Texas, the U.S. Labor Department announced Thursday.

U.S. initial jobless claims rose 15,000 to 478,000 for the week ended October 18. However, without hurricane-related claims for Hurricane Ike, filings would have totaled about 466,000. Claims for the previous week were revised to 463,000.

Economists surveyed by Bloomberg News had expected this week's initial jobless claims to total 470,000.

Also, the 4-week moving average decreased 4,500 to 480,250. Economists view the 4-week average as a better indicator of unemployment conditions, as it smooths-out anomalies for strikes, holidays, or other idiosyncratic events.

Economist Peter Dawson said "job losses continue to occur at a large and concerning rate, even after taking into consideration the act-of-nature event of Hurricane Ike."

"We have an economy whose fundamentals are definitely not sound. The housing sector remains in a severe slump, financial service layoffs and consolidation obviously will continue, and business investment is low," Dawson said. "Exports are about the only positive data point remaining for the economy, but that is likely to come under pressure, given the tightening of borrowing conditions, globally. The United States has to find or create a growth catalyst, to get this economy moving again."

U.S. initial jobless claims remain at elevated levels, even after factoring out the effect of Hurricanes Gustav in Louisiana and Hurricane Ike in Texas, the U.S. Labor Department announced Thursday.

U.S. initial jobless claims rose 1,000 to 497,000 for the week ended September 27 -- the highest level in seven years -- the Labor Department said. Without the hurricane-related claims, initial filings would have totaled about 439,000, the department said. Claims for the previous week were revised 3,000 higher to 496,000. Economists surveyed by Bloomberg News had expected this week's initial jobless claims to total 475,000.

Also, the 4-week moving average increased 11,500 to 474,000. Economists view the 4-week average as a better indicator of unemployment conditions, as it smooths-out anomalies for strikes, holidays, or other idiosyncratic events.

Economist Peter Dawson said "job losses continue to occur at a troubling rate, even after taking into consideration the act-of-nature events of Hurricanes Gustav and Ike."

"We have an economy whose fundamentals are definitely not sound. The housing sector remains in a severe slump, financial service layoffs and consolidation obviously will continue, and business investment is low," Dawson said. "Exports are about the only positive data point remaining for the economy, but that too may come under pressure if global growth slows."

Initial U.S. jobless claims decreased 58,000 to 346,000 for the week ended July 5, the U.S. Labor Department announced Thursday. Claims for the previous week were unrevised at 404,000.

Economists surveyed by Bloomberg News had expected this week's initial jobless claims to total 399,000.

Also, the four-week moving average decreased 10,000 to 390,500. Economists view the four-week average as a better indicator of unemployment conditions, as it smooths-out anomalies for strikes, holidays, or other idiosyncratic events.

Economist Peter Dawson said investors / traders should not react too favorably to this week's jobless claims picture. "It is a surprisingly good number, but keep in mind it's just one week," Dawson said. "Also, continuing claims are still rising and have been trending higher for more than six months. That stat is more indicative of the soft job conditions the U.S. is currently experiencing."

Initial U.S. jobless claims increased 16,000 to 404,000 for the week ended June 28, the U.S. Labor Department announced Thursday.

Claims for the previous week were revised 2,000 higher to 388,000.

Economists surveyed by Bloomberg News had expected this week's initial jobless claims to total 385,000.

Also, the 4-week moving average increased 11,250 to 390,500. Economists view the four-week average as a better indicator of unemployment conditions, as it smooths out anomalies for strikes, holidays, or other idiosyncratic events.

Economist Peter Dawson said Thursday the jobless claims picture indicates economic conditions are worsening in the United States. "We're now above 400,000 in new claims. This is a sign the economy is stalling. Earlier, we did not see jobless claims as high as in previous slowdowns, but the job slide is accelerating, so in my view GDP will definitely be negative in Q2," Dawson said. "We've got to find a way to jump-start both jobs and demand or this economy will suffer a deeper recession."

Initial U.S. jobless claims decreased 5,000 to 381,000 for the week ended June 14, the U.S. Labor Department announced Thursday. However, the total was still above the consensus estimate. Claims for the previous week were revised 26,000 higher to 386,000.

Economists surveyed by Bloomberg News had expected this week's initial jobless claims to total 375,000.

Also, the 4-week moving average increased 3,250 to 375,250. Economists view the 4-week average as a better indicator of unemployment conditions, as it smooths-out anomalies for strikes, holidays, or other idiosyncratic events.

Economist Peter Dawson said the jobless claims picture reflects the tepid U.S. economy. "We're not seeing jobless claims as high as in previous economic slowdowns, but jobless claims are still trending higher, as evidenced by the 4-week average," Dawson said. "We have the slowest of economies that's not creating new jobs but not resulting in mass lay offs, either, so far."

Initial U.S. jobless claims increased 7,000 to 372,000 for the week ended May 24 - - slightly above the consensus estimate, the U.S. Labor Department announced Thursday. Claims for the previous week were revised 6,000 lower to 368,000.

Economists surveyed by Bloomberg News had expected this week's initial jobless claims to total 370,000.

Also, the four-week moving average decreased 2,500 to 370,500. Economists view the four-week average as a better indicator of unemployment conditions, as it smooths-out anomalies for strikes, holidays, or other idiosyncratic events.

The largest increases in initial claims for the week ending May 17 were in: Pennsylvania, +1,695, Missouri, +1,192, South Carolina, +1,045, Indiana, +919, and Kentucky, +811. The largest decreases were in: Michigan, -3,898, North Carolina, -2,610, Georgia, -1,537, New York, -1,421, and Louisiana, -1,333.

Meanwhile, the number of continuing claims increased 36,000 to 3.104 million from a revised 3.068 million for the week ended May 17, the latest period for which figures were available. Further, the 3.104 million total was the highest continuing claims level since February 2004.

Economic Analysis: A poor weekly jobless report - - one that indicates the job market continues to deteriorate. Weekly claims were above the consensus estimate, and although the four-week moving average dipped, it is still at an elevated level, and above the U.S. Federal Reserve's 'danger level' of 350,000. Further, the continuing claims total remains over three million - - an indication of the difficultly U.S. adults are having trying to secure new employment. That statistic, combined with an elevated four-week average, indicates that labor market conditions are softening - - a decided negative for the U.S. economy.