Posted on 04/12/2012 5:51:00 AM PDT by sunmars
WASHINGTON (Reuters) - New claims for unemployment benefits rose last week to their highest level since January, a development that could raise fears the labor market recovery was stalling after job creation slowed in March.
Initial claims for state unemployment benefits increased 13,000 to a seasonally adjusted 380,000, the Labor Department said on Thursday. The prior week's figure was revised up to 367,000 from the previously reported 357,000.
Economists polled by Reuters had forecast claims falling to 355,000 last week.
The four-week moving average for new claims, considered a better measure of labor market trends, rose 4,250 to 368,500.
The claims data comes in the wake of Friday's disappointing employment report for March, which showed the economy created 120,000 new jobs, the smallest amount since October.
(Excerpt) Read more at baltimoresun.com ...
But ZERO will crow about the next Unememployment rate release which will show another drop to 8.1% and the media will hail the great turnaround continues
BARF
And the revision is always up.
I like the idea, but we wouldn't survive a week.
Last weeks got revised up 10,000. So how much will this weeks 380,000 be revised up next week?
You get the idea. I'm sure in no time we can stimulate the alcohol industry, and by extension the makers of asprin and/or ibuprofin. ;-)
Arn't the "alcohol industry" and the "cosmetic or perfume industry" that have increased business in recession times? IIRC
Not to mention our entire summer economy is based on hitting the road for the family vacation. Very little of that happening this summer, hence no seasonal hiring.
These numbers will start looking really bad in June and July.
My sense is that buying had died for a bit, that consumers had paid down credit cards and loans, and that they had had a period of purchasing before and after Christmas that led to a demand that required some extra workers.
They have now done their spending so it’s slowing down and retailers and manufacturers are sensing that.
Additionally, higher gas prices have again siphoned off discretionary cash, so that has also softened any demand for other items. The oil sheiks get rich again in another of the installments of price hikes promised by the bowing to mecca obama. (These opec manipulators of prices will again ratchet up supply prior to election day to make him look good.)
The next recession will be intentional, and it will be programmed to hit end of the year is my sense.
They actually tried that excuse on CNBC market report this morning.
Bush’s fault.
Anyone have a chart of the number of people dropping out of the labor force because they can’t find work?
Hey, I was in a McDonald’s (sorry, wife had to use their facilities) and they have a sign up....hiring...so the economy is on the way up....yeah, that’s it, more McDonald’s jobs....that’ll do the trick...”unexpectedly” my rear..
Hey, I was in a McDonald’s (sorry, wife had to use their facilities) and they have a sign up....hiring...so the economy is on the way up....yeah, that’s it, more McDonald’s jobs....that’ll do the trick...”unexpectedly” my rear..
anything blaming Bush - drink
anything blaming Republicans - drink
anything blaming whites - drink
upward revisions now 53 of 54 last weeks?
Yeah, but I’m not sure Hubby is gonna like me being passed out drunk every single day by the time he gets home for lunch. :-/
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