The number of Americans filing for jobless aid rose to an eight-month high last week and productivity growth slowed in the first quarter, clouding the outlook for an economy that is struggling to gain speed.
While the surprise jump in initial claims for unemployment benefits was attributed to factors ranging from spring break layoffs to the introduction of an emergency benefits program, economists said it corroborated reports this week indicating a loss of momentum in job creation.Although the economists do concede that the increase in jobless claims cannot be ascribed to special circumstances only, they do say that part of the rise had to do with spring break.
I do believe there is "spring break" every year. Surprise indeed.
