Posted on 08/30/2007 9:16:56 AM PDT by Moonman62
WASHINGTON (AP) -- The number of newly laid off workers filing for unemployment benefits unexpectedly rose last week.
The Labor Department reported Thursday that applications for unemployment benefits totaled 334,000, an increase of 9,000 from the previous week.
That gain caught analysts by surprise. They had been forecasting that jobless claims would fall by around 2,000.
Analysts are closely watching to see whether recent financial market turmoil will have an impact on business hiring decisions.
I wonder how many of the unemployed were put out by illegals “doing the jobs that Americans won’t” I have at least two friends in that boat
End of the summer, layoffs are common as resorts and vacation spots begin to lighten up the staff.
Lots of unemployed mortgage brokers too, I guess.
Given all the mortagage company layoffs lately, this hardly seems surprising.
Guess tehy will ahve to get in line for the next bubble.
Aren’t those accounted for by seasonal adjustments?
Are they so confident in their prognostications now that microvariations surprise them?
Seeing that it happens every year, it doesn’t seem like that would take the Labor Department by surprise.
If the Fed would end its boom and bust credit cycle, we wouldn’t have the booms that encourage speculation.
The bond market seems to be taking the news seriously. Yields are down in spite of good news about economic growth.
It doesn’t say if they had seasonally adjusted their expectations. Clearly this is a sky-is-falling story which will overshadow the positive economic growth.
Can't anyone at Yahoo put 2 and 2 together? The mortgage industry just laid off hundreds of thousands of people, and Yahoo reports they unexpectedly filed for unemployment? What a bunch of...yahoos.
But I'd say that you're right about the mortgage industry.
I have been reading for 2 weeks that the mortgage industry is laying off between 20,000 and 40,000 people and yet the lost jobs reports shows a mild 2,000 increase; how is it that high paid analysists did not calculate the mortgage story into their data? How is it that with all those jobs gone we still have a strong jobs story?
I believe that anything below the 400,000 level is considered acceptable.
The 10 year yield seems to be in the red a lot lately.
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