Posted on 10/22/2009 6:32:22 AM PDT by frogjerk
The Labor Department said new jobless claims rose to a seasonally adjusted 531,000 last week, from an upwardly revised 520,000 the previous week. Wall Street economists had expected only a slight increase, according to Thomson Reuters. WASHINGTON -- The number of newly laid-off workers filing claims for jobless benefits rose more than expected last week, after falling in five of the past six weeks, as employers remain reluctant to hire even with the economy showing signs of recovery. The Labor Department said Thursday that new jobless claims rose to a seasonally adjusted 531,000 last week, from an upwardly revised 520,000 the previous week. Wall Street economists had expected only a slight increase, according to Thomson Reuters. Economists closely watch initial claims, which are considered a gauge of layoffs and an indication of companies' willingness to hire new workers. The four-week average of claims, which smooths out fluctuations, fell slightly to 532,250, the lowest since mid-January and about 125,000 below the peak for the recession, reached this spring. But claims remain well above the 325,000 that economists say is consistent with a healthy economy. The number of people continuing to claim benefits did drop for the fifth straight week to 5.9 million, from just over 6 million. The figures on continuing claims lag initial claims by a week.
(Excerpt) Read more at foxnews.com ...
upwardly revised 520,000 the previous week.
RINSE AND REPEAT
Unexpected.
Am I understanding this correctly?
Are we losing half a million jobs a week??
Don't be so negative. You are not counting all of the jobs saved thru the stimulus.
Ah yes, the ole jobless recovery.
But we have Democratic assurances that the Billions of taxdollars we are spending today, will result in 42,000 jobs in the next 10 years.
This is the reason that will be given for extending unemployment benefits another three or six months.
And don’t forget those 30,000 jobs created by stim one.
Yes, but a smaller number of jobs are being created. So the net job loss/creation situation is still negative, but not at a half-million.
Things aren't getting worse as fast as they were, but they aren't getting much better, either.
“even with the economy showing signs of recovery.”
BS! What signs???
.
.
Even worse, the job loss recovery.
Yea,all in North Dakota!
...but not surprising. Mr. Hopey Changey and his advisors don't have a clue as to what they're doing.
Well, I suppose: but at some point you run out of "discretionary" workers and start flat-out closing firms. And on top of that, many economists (never quoted by the media) say that the REAL unemployment rate is a staggering 16-17% when you account for those who have quit looking for work.
We'll know more soon, as in many states the unemployment bennies are running out.
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