AWFUL! 428,000 new jobless claims last week.

THE GOOD NEWS: Soon this number is bound to drop because there won’t be anyone employed anymore. Hence, no more “new” jobless claims, just “old” jobless claims.

CNBC: The weekly jobless claims number, which is closely watched as an indicator for employment trends, unexpectedly rose 11,000 to 428,000, well ahead of estimates of 411,000.

The consumer price index, meanwhile, gained 0.4 percent when including volatile food and energy prices, after an increase of 0.5 percent in July. The so-called core CPI, though, gained 0.2 percent, which was in line with expectations.

Consumers paid more for a range of goods and services last month, pushing up inflation and squeezing Americans’ purchasing power.

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