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Jobless claims jump 37,000 to 464,000
MarketWatch ^ | July 22, 2010 | Staff

Posted on 07/22/2010 5:47:26 AM PDT by 50mm

The number of people applying for initial state unemployment insurance benefits rose 37,000 to 464,000 in the week ended July 17, the Labor Department reported Thursday. Economists surveyed by MarketWatch had expected an initial claims level of 450,000.

(Excerpt) Read more at marketwatch.com ...


TOPICS: Business/Economy
KEYWORDS: economy; greenshoots; unemployment; unexpected
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To: Carley
Actually, eliminating unemployment benefits will sure help.

Businesses shouldn't have to compete with the Gov't paying people. Maybe for a couple months...but 2 years?

That's not right.

41 posted on 07/22/2010 7:10:27 AM PDT by what's up
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To: 50mm

What, no propaganda comments from Obama’s administration?? Every time the numbers go down we hear nothing but how great his “plan” is working.


42 posted on 07/22/2010 7:10:58 AM PDT by CodeToad ("Idiocracy" is not just a movie.)
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To: ScottinVA
Surprising. Unexpected.

So is the market's opening reaction (up 200 points). One would expect the opposite reaction if this was perceived as surprising.

43 posted on 07/22/2010 7:12:52 AM PDT by Pearls Before Swine
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To: Pearls Before Swine
The DJIA is up 189 as I post. See here.
44 posted on 07/22/2010 7:15:57 AM PDT by blam
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To: 50mm

Pelosi: Where Are the Jobs, Mr. President?

August 1, 2003

Washington, D.C. — House Democratic Leader Nancy Pelosi released the following statement today on the Bureau of Labor Statistics’ announcement that 470,000 people abandoned their job searches in July and that 3.2 million private sector jobs have been lost since President Bush took office:

“The fact is that President Bush’s misguided economic policies have failed to create jobs. Since President Bush took office, the country has lost 3.2 million jobs, the worst record since President Hoover. And today we learned that in July nearly half a million people gave up looking for a job.

“Job losses are taking a real toll on the financial security of American families. While Democrats are fighting for opportunity, jobs, and economic security for working families, Republicans continue to focus on helping those who need help the least.

“According to today’s survey, while the national unemployment rate dropped slightly, it still stands at a near record high. In addition, the unemployment rate for African Americans was still over 11 percent in July, and the unemployment rate for Hispanics was 8.2 percent in July.

“It is time for President Bush and the Republicans to get to work for all Americans, not just the elite few.”


45 posted on 07/22/2010 7:17:23 AM PDT by CodeToad ("Idiocracy" is not just a movie.)
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To: 50mm
At least there is no "unexpectedly" in the article.

Not true -- it's there by inference: "economists surveyed by MarketWatch had expected an initial claims level of 450,000."

46 posted on 07/22/2010 7:19:28 AM PDT by r9etb
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To: 50mm
Lessee....initial state unemployment insurance benefits rose 37,000 to 464,000 in the week ended July 17....so by my calculation, the unemployment rate dropped from 9.5% to 9.4%.......using the government's calculation algorithm..........
47 posted on 07/22/2010 7:25:15 AM PDT by OB1kNOb (When all else fails one must, "Release the Kraken!")
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To: 50mm

Yet now it is up 200 points


48 posted on 07/22/2010 7:26:05 AM PDT by edcoil (OK, so what's the speed of dark?)
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To: edcoil
Existing home sales dropped "less than expected".

Wall St extends gains after data

49 posted on 07/22/2010 7:38:38 AM PDT by 50mm (Oh noes!)
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To: Pearls Before Swine
So is the market's opening reaction (up 200 points). One would expect the opposite reaction if this was perceived as surprising.

The spin is that the market is up because of "earnings". You see, businesses are making more profits because they're laying off so many workers and thus cutting overhead costs. Isn't this "recovery" great!
50 posted on 07/22/2010 9:12:48 AM PDT by Deo volente (God willing, America will survive this Obamination.)
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To: Gasshog

un-believable


51 posted on 07/22/2010 9:53:39 AM PDT by evad (SHUT IT DOWN!!!)
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To: 50mm

I ‘expected it’ as this is the 2nd time I’ve been among the unemployed during the Obama Recession. To heck with it. I’m re-opening my business. I figure that things can only improve after the mid-terms. Playing the percentages even if we only get ‘gridlock’.


52 posted on 07/22/2010 2:01:31 PM PDT by Tallguy ("The sh- t's chess, it ain't checkers!" -- Alonzo (Denzel Washington) in "Training Day")
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To: TomGuy
Translation: Team Obama need to get off their collective butts and work on getting companies to create jobs.

Don't hold your breath on that one! Nobody in the Obama administration even knows anybody who works in the private sector -- except possibly at a law firm. They don't have a clue and couldn't buy one with another Trillion-dollar bailout program.

53 posted on 07/22/2010 2:05:57 PM PDT by Tallguy ("The sh- t's chess, it ain't checkers!" -- Alonzo (Denzel Washington) in "Training Day")
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To: 50mm

>> I think business reporters have finally realized how ridiculous it is to use “unexpectedly” every time the business news is bad for the ‘rats.

I was thinking incompetent.


54 posted on 07/22/2010 2:06:20 PM PDT by Gene Eric (Your Hope has been redistributed. Here's your Change.)
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To: 50mm

So, between this week and last week the new claims rose by a million unemployed people....

A million here and a million there and pretty soon you’re talking big time job loss.


55 posted on 07/22/2010 2:16:17 PM PDT by bert (K.E. N.P. N.C. +12 ..... The winds of war are freshening)
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To: 50mm

So, between this week and last week the new claims rose by a million unemployed people....

A million here and a million there and pretty soon you’re talking big time job loss.


56 posted on 07/22/2010 2:16:26 PM PDT by bert (K.E. N.P. N.C. +12 ..... The winds of war are freshening)
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