Posted on 07/23/2009 6:14:17 AM PDT by truthandlife
The number of newly laid-off workers seeking jobless benefits rose last week, though the government said its report again was distorted by the timing of auto plant shutdowns.
Unemployment insurance claims have declined steadily since the spring, but most private economists and the Federal Reserve expect jobs to remain scarce and the unemployment rate to top 10 percent by year-end.
The Labor Department said Thursday that its tally of initial claims for unemployment insurance rose by 30,000 to a seasonally adjusted 554,000. That was above analysts’ estimates of 550,000.
But the number of people on emergency extended state and federal programs continued to rise. Unemployment insurance recipients can receive up to 53 weeks of additional benefits from the emergency programs, on top of the 26 weeks typically provided by the states.
When the extended benefit rolls are included, more than 9.1 million people received jobless benefits for the week of July 4, the latest data available.
The recession, which started in December 2007 and is the longest since World War II, has eliminated a net total of 6.5 million jobs. The unemployment rate in June rose to 9.5 percent, a 26-year high.
More job cuts were announced this week, many by major airlines.
(Excerpt) Read more at msnbc.msn.com ...
With the new higher minimum wage going into effect, watch the numbers increase more than the experts (/s) expected!
Obama has done what his CFR masters told him to do:
Drive the U.S. economy to the ground so the economy of the NAU can be implemented, and greenbacks replaced with Ameros (aka NWO dollars). The NAU is coming (as Daniel prophesied, the NAU is one of 10 super-nations).
IT’S WORKING!!! (cheers the Illuminist leaders)
So the recession started in December 2007 and nobody noticed it until the very end of the presidential campaign? Looks like the press is still covering for the messiah.
So the press is definitely lying when it says that the recession started in December 2007.
Yes and No. Yes, we were not in a recession when they began spouting all over the place that we were.
No, they are not lying because they simply changed the definition of recession to include a "slowdown" in growth.
Like the Allstate commercial that began running in early 2007 said: "We may not be in a recession, but it sure does feel like one."
I expected it, why didn’t “they”.
http://www.geocities.com/WallStreet/Exchange/9807/Charts/SP500/uct1950-2050.jpg
not much longer, no recovery until 2035!
Good grief! When will it stop? The Marxist wants the Nation on it’s knees. He wants total submission to his agenda. The banksters want it too. They want the “global government” to come to the rescue when we are in the dirt.
come on... it’s already over 15% in reality... using the instrument we used in the 70’s....
When you start your layoffs, be sure to target Obama voters. They are communists and don't believe in the free market system. So, don't reward them with a free market job. Let them contact Obama for the communist goodies they so eagerly seek. Don't reward communists with free market jobs...
New data out today, July - 585,000 jobs lost, likely to be revised, most revisions are higher then orginal estimate. 585k jobs is a lot og jobs to lose in one month and we’d been running at this pace for almost a year now. Very bad.
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