First part of the good news:
New Filings for Jobless Claims Tumble
The Labor Department reported Thursday that new claims for unemployment aid plunged last week by a seasonally adjusted 27,000 to 451,000. Economists had predicted a much smaller decline of just 2,000.
The economy may be stabilizing after all. It's not where we would want it to be. After reading about the Mott's Strike where the company is trying to get the workers to accept a pay cut just so profits can increase, with no additional investment planned, I was worried. In the recovery, there have been too many companies that are hoarding cash, refusing to invest, and of course the CEOs who are rewarded for cutting jobs.
However I'm a bit annoyed at the AP for what they wrote later in the story.