Posted on 06/23/2011 6:04:04 AM PDT by ExTxMarine
WASHINGTON (Reuters) - New claims for unemployment benefits rose more than expected last week, a government report showed on Thursday, suggesting little improvement in the labor market this month after employment stumbled in May.
Initial claims for state unemployment benefits climbed 9,000 to a seasonally adjusted 429,000, the Labor Department said. The prior week's figure was revised up to 420,000.
(Excerpt) Read more at finance.yahoo.com ...
Funny how they refused to use the ‘unexpected’ word.
I have the day off!
I’m off to the fridge for some sweet sweet Unexpected juice.
Funny how they're always quietly revised up, never down.
Between this, and Helicopter Ben's comments yesterday, I predict that the market is going to get slugged today.
Except for the truth getting out about the US economy, you did great!
However, what I’d like to know is who was expecting things to be better and why? What a surprise!
Except for the truth getting out about the US economy, you did great!
However, what I’d like to know is who was expecting things to be better and why? What a surprise!
CHEERS!
Why? The markets have not behaved rationally for the real economic conditions for the last 3-4 years. They are pumped full of phony Fed dollars.
And, of course, last week's numbers were adjusted ... UP to 420K!
Always expect the unexpected.
But, maybe these are Obama’s expected results.
This little gem from CNBC:
“Initial claims have now been above the 400,000 mark for 11 weeks in a row. Analysts normally associate that level with a stable labor market.”
Interesting. With 0bama in the WH, it’s 400K. The “stable labor market” benchmark was 325K when Bush was President. Why don’t we just say 500K new claims or less indicates “robust growth” and go from there?
Nine weeks straight where first time claims were over 400,000...and they keep “revising” the prior week’s numbers upward making them even worse than what they admitted just seven days ago.
The White House sez they are only 1/4 of the way through their ideas...God help us!
Biden and Pelosi are meeting with Hussein this morning about even more “stimulus” spending....last night the Premier talked about nation building right here at home.
Housing values are still in freefall with anywhere between 5 and 9 million more home foreclosures yet to come.
And Ben Bernacke didn’t give anyone warm fuzzy feelings with his speech yesterday...
And I still cannot figure who was caught by surprise here other than some brainless mooney liberal who still thinks Bush and Cheney are in charge and gives Hussein and his minions a complete pass.
Frickin’ madness...
Looks like another rough start for the Dow. Futures are -116.
ugh.
from Bloomingberg
“A Labor Department official said today as the figures were released that claims in six states had to be estimated because of “technical problems” related to computers. Those states included Ohio, Mississippi, Oregon, New Hampshire and Washington, as well as the Virgin Islands. “
Yeah we couldn’t jigger the numbers to make O look good.
The sooner these a-holes are out of control, the sooner everyone will be better off.
Would it be appropriate to add:
Last week's numbers revised upward
to the drinking game?
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