BLS reports that, "In the week ending February 4, 2012, the advance figure for seasonally adjusted initial claims was 358,000, a decrease of 15,000 from the previous week's revised, which of course is revised upward, figure of 373,000. The 4-week moving average was 366,250, a decrease of 11,000 from the previous week's revised, which of course is always revised upward, average of 377,250."
The proverbial bottom-line to the report is that long-term unemployment remains a major problem. Part-time employment and low paying jobs are not going to enlarge the coffers of the U.S. Treasury.
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