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dow2664 USA Economic News Today: The primary stock indices in the U.S. struggled during the last trading session as a couple home based economic reports posted weaker than expected. Retails sales figures for December were not as positive as some were anticipating. The most noteworthy, and negatively skewed, piece of economic data which posted last session pertained to unemployment benefits. Although the primary indices recovered and closed in the green, investors remained concerned with the recent uptick in unemployment applications. National Unemployment Benefit Applications: According to the government statistics, unemployment claims pushed to a six week high of 399,000 for the week ended January January 7th. Jobless Claims notched higher by 24,000 over the previous week. Although home based economic reports have recently skewed positively, this sharp increase in initial unemployment claims raises some eyebrows and places the status of the U.S. economic recovery in question. Interestingly enough, the number of initial jobless claims rose higher while the number of Americans receiving extended unemployment benefits dropped lower. Seasonal employment may have skewed the data and thus, economists anticipate the number of those seeking federal unemployment benefits may rise. Stephen Johnson
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