While the infers Randy Travis overall size 3 wooden crosses details of the benefit rolls has beenmarching steadily higher, the number of U.S. workers submittingnew claims for state unemployment aid dropped unexpectedly lastweek, a second consecutive decline Initial claims fell 24,000 to 467,000 in the week endedJan. 3, the department said, well below the 540,000 new claimseconomists had expected It was the lowest reading since theweek ended Oct 11, when it was at 463,000. Normally this would be seen as a suggestion that the labormarket’s deterioration was abating, but analysts said thedecrease was likely due to people holding back applicationsbecause of the holidays. “It covers a holiday period, so people were delaying filingtheir claims. There is going to be a surge next week,” saidDavid Watt, a senior currency strategist at RBC CapitalMarkets, in Toronto. “I don’t think this is indicative of thetrend.” RECESSION DEEPENS The surge in workers drawing benefits reflects a deepeningof the recession that started in December 2007, a downturn manyeconomists think could turn into the longest since the GreatDepression of the 1930s.

The data came a day before the government issues its reporton December nonfarm payrolls randy travis album . That report is expected to showthe economy lost 550,000 jobs last month, with the unemploymentrate jumping to 7 percent from November’s 6.7 percent The collapse of the U.S randy trevis . housing market and the resultingfinancial crisis have caused the loss of a huge number of jobsacross a wide spectrum of sectors randytravis . Underscoring the steepening slump, the Philadelphia FederalReserve Bank said on Thursday the pullback in factory activityin the country’s Mid-Atlantic region was more severe inDecember than originally reported three wooden crosses . For details, see[IDnN08526247] Faced with an uncertain economic picture and mounting jobinsecurity, consumers have cut back on spending.

On Thursday, Wal-Mart Stores Inc (WMT.N), which has beenthe retailer of choice for consumers watching their wallets,led U.S retailers in posting disappointing December same-storesales It also cut its quarterly earnings forecast randy travis rise and shine . For detailssee [ID:nN08485027] News from the International Council of Shopping Centers(ICSC) was also grim U.S country music . chain stores sales fell 1.7 percentin December compared to the same period a year-ago randy traywick . “This was an extraordinarily difficult holiday season.Retailers were forced to slash prices to entice consumers tospend,” said Michael Niemira, ICSC chief economist randy hatcher .

“But even that strategy was not enough as the elevatedworry about job insecurity and increased job layoffannouncements continued to restrain consumers’ willingness andability to spend.” U.S . stocks initially fell on the weak retail sales reportsand the jobless numbers, but ended mixed, with the Dow Jonesindustrial average .DJI down 27.24 points at 8,742.46 country music list . The Standard & Poor’s 500 Index .SPX rose 3.08 points to909.73 and the Nasdaq Composite Index .IXIC climbed 17.95points, to 1,617.01 travis tritt . “The message is the weak economy is hurting the job marketand that will affect consumer spending going forward . There isa serious snowballing process under way,” said DecisionEconomics’ Ellis.