Unemployment Claims Higher Than Expected

Straight from the horse's mouth, I offer the latest unemployment claims figures from the U.S. Department of Labor:

In the week ending Jan. 30, the advance figure for seasonally adjusted initial claims was 480,000, an increase of 8,000 from the previous week's revised figure of 472,000. The 4-week moving average was 468,750, an increase of 11,750 from the previous week's revised average of 457,000.

The advance seasonally adjusted insured unemployment rate was 3.5 percent for the week ending Jan. 23, unchanged from the prior week's unrevised rate of 3.5 percent.

The advance number for seasonally adjusted insured unemployment during the week ending Jan. 23 was 4,602,000, an increase of 2,000 from the preceding week's revised level of 4,600,000. The 4-week moving average was 4,617,500, a decrease of 51,250 from the preceding week's revised average of 4,668,750.

The fiscal year-to-date average for seasonally adjusted insured unemployment for all programs is 5.362 million.

What do all these numbers mean? Seeking Alpha offers this take (plus a lot of great charts):

Currently there are some 5.6 million people receiving federal “extended” unemployment benefits.

Taken together with the latest 5.79 million people that are currently counted as receiving traditional continued unemployment benefits, there are well over 11 million people on state and federal unemployment rolls.

Welcome to the "Land of Hope and Change."

1 posted on 02/04/2010 9:16:59 AM PST by BobMcCartyWrites

To: BobMcCartyWrites

1/09: “Yes we can!”
1/10: “Don’t blame me!”

2 posted on 02/04/2010 9:18:28 AM PST by dashing doofus (Those who are too smart to engage in politics are punished by being governed by those who are dumber)

To: BobMcCartyWrites

WAY TO GO, OBAMMY!!!! THE HOPE AND CHANGE IS WORKING GREAT, I SEE

3 posted on 02/04/2010 9:18:42 AM PST by Commander X (TOTUS...destroying the USA one lie at a time.)

To: BobMcCartyWrites

I will consider it a miracle if we don’t fold before this clown is removed from office.

4 posted on 02/04/2010 9:19:35 AM PST by Loud Mime (Liberalism is a Socialist Disease)

To: BobMcCartyWrites

Always with the "Unexpected"

5 posted on 02/04/2010 9:21:18 AM PST by corkoman

In after “unexpected”

:-(

6 posted on 02/04/2010 9:22:49 AM PST by Uncle Miltie (Liberal Massachussetts says: "FUBO!")

“Always with the “Unexpected””

Most popular words with the news media and administration:

Unforeseen
Unforeseeable
Unexpected
Surprise
Surprising

Of course, when you have absolutely no clue, everything is “surprising”.

7 posted on 02/04/2010 9:30:07 AM PST by The Antiyuppie ("When small men cast long shadows, then it is very late in the day.")

To: BobMcCartyWrites

Reality is setting in now w/ regards to over taxation, artificial credit bubbles, liar loans, run away goobermint spending, open borders, increasing socialist policies.

Regardless of what the the SRM and the goobermint says......we are entering another depression. The rate of commercial real estate defaults will son quickly pick up speed.

8 posted on 02/04/2010 9:41:54 AM PST by RSmithOpt (Liberalism: Highway to Hell)

To: BobMcCartyWrites

9 posted on 02/04/2010 10:00:45 AM PST by Lorianne

To: BobMcCartyWrites

How ‘Unexpected”

10 posted on 02/04/2010 10:59:36 AM PST by Wee-Weed Up

To: BobMcCartyWrites

Another "unexpected" bad economic report. It's inconceivable that so many bad reports could hit purely by chance in the year after we elected a socialist.

11 posted on 02/04/2010 11:09:26 AM PST by Pollster1 (Natural born citizen of the USA, with the birth certificate to prove it)

To: BobMcCartyWrites; All

Why, it’s

Un
President
Ed...

12 posted on 02/04/2010 12:07:38 PM PST by backhoe (All Across America, the Lights are being relit again...)

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794