As jobless claims rise, Americans are becoming even more concerned about the economic recovery.

• New unemployment claims rose last week, which may indicate a weak economic recovery.
• The unemployment rate is expected to climb to 9.6% (up from 9.5% in June).
• While growth expanded 3.7% in the first quarter of 2010, it fell to a 2.4% annual rate in the second quarter.
• Generally speaking, consumers have cut spending.

Facts & Figures

• Claims for state unemployment benefits rose 19,000 (the highest since April).
• 4-week average of new jobless claims rose 5,250 to 458,500.
• Jobless claims fell in 2009 but have stalled this year.
• The number of people on emergency benefits rose 60,993 to 3.31 million in mid July.

Best Quote

“The bottom line is that any recovery in employment is going to be very slow. It’s likely that we’re still 9.5 percent unemployment or awfully close to it by the end of the year.” -Scott Wren, Senior Equity Strategist, Wells Fargo Advisors in St. Louis

Tags: economy, jobless, jobless claims, jobs, recession, recovery, unemployment