Posted on 09/10/2009 10:47:32 AM PDT by NormsRevenge
WASHINGTON (AFP) – New US jobless claims fell to 550,000 in the past week, the government reported Thursday in a sign of further healing in the critical labor market.
The seasonally adjusted number of claims fell by 26,000 in the week to September 5, the Labor Department reported.
The figure for weekly claims was better than analyst expectations for 560,000.
The four-week moving average, which smooths out week-to-week volatility, was 570,000, a decrease of 2,750 from the previous week's revised figure.
(Excerpt) Read more at news.yahoo.com ...
Hope & Change!
A bar chart showing the monthly US unemployment rate since Aug 2008. US unemployment climbed to 9.7 percent last month as 216,000 jobs were lost, according to official data Friday highlighting fragile labor conditions as the economy struggles to emerge from recession. (AFP/Graphic/Laurence Saubadu)
Less bad is the new good.
Less bad is the new good.
Less bad is the new good.
Less bad is the new good.
Less bad is the new good.
Yup, the Dems mantra of late
since the dems have risen to power , the numbers are staggering.
In a month, they will revise the figures up by 20,000.
Jobs losses are actually worse than expected -- but they won't write the article quite that way next month.
Really !
As we have lost a significant number already, consider this:
100 is 10% of 1000.
But as the 1000 number decreases month after month, the 1000 becomes 950 and so 10% of that will be 95. Is that a savings of is the total pool coming down so as to have the numbers ‘seem’ to come down?
Wow, Obama saved us another 10,000 jobs!!!! What a guy.
Why is the stock market going up? What is the latest comspiracy theory to explain this?
“When federal emergency programs are included, the total number of jobless benefit recipients was 9.16 million people in the week that ended Aug. 22, up from 9.14 million in the previous week. Congress has added up to 53 extra weeks of benefits on top of the 26 typically provided by the states.”
THAT IS THE REAL number to worry about. Long term unemployment is rising rapidly. An increase in long term unemployment of 200k in one week! Extend that over 52 weeks and you have another 10 MILLION people unemployed.
As much as Obama and his Labor Dept try to massage the numbers, 550k weekly claims will continue to translate into much higher unemployment numbers down the road.
The only way they are keeping the overall unemployment number down is to drop people they claim ‘have stopped looking for work’. Even the Messiah can’t cover this up for much longer.
I think that the stock market is going up because the biggest expense for most businesses is employing people. Since people are still losing their jobs and there aren’t many new jobs being created, individual companies have lighter expenses.
We have good news and bad news Mr. President.
The good news is, the economy has stabilized.
The bad news is, it’s in a coma.
Right, and there are thousands and thousands of people who are losing their unemployment benefits each month. They are no longer counted as ‘unemployed’.
My guess is that the REAL unemployment figure is around 20% or more..........
New-speak, double-speak, lies, spin, distortion, misrepresentation, deceit, deception, whatever. Emperor Zero has no clothes.
You read my mind.
Five times.
Very easy answer to your question. Banks have been GIVEN trillions by the Federal Reserve. We KNOW they are not lending it to consumers because consumer credit is going DOWN not up for the first time since 2003. We know they are not lending it to homeowners, because foreclosures are still rising. We know they are not lending it to business, because businesses are laying off people, not expanding.
Where do you think the banks are putting this money? They are putting into stocks for one simple reason. The only way they can get out of the pickle they are in is to raise the price of their shares and thus increase the amount of equity they have. A rising stock price does exactly that. The banks are in essence investing inthemselves in order to make themselves look more healthy. This is all being down with the full blessing of Ben Bernanke and his buds at the Fed. The stocks of financials have risen more on a % basis than about any class of stocks, ask yourself how banks on life support a year ago are now suddenly healthy.
On a side note, gold and silver stocks are flying. This is merely GS and JPM and others hedging their bets in case USD collapses because Chinese tire of our games.
Layoffs increase profit. Plus bailout and stimulus money are being funneled into lots of companies, especially the “green sector”, with the promise of much more to come.
The market’s a house of cards right now.
correction, increae equals over a million jobs lost not 10 million.
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