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New jobless claims post biggest jump in 6 months
Reuters ^ | January 13, 2011

Posted on 01/13/2011 6:04:09 AM PST by Oldeconomybuyer

(Reuters) - U.S. jobless claims jumped unexpectedly last week to their highest level since October, suggesting the labor market is still in a rut despite signs of improvement in the economy.

The number of Americans filing for first-time unemployment benefits rose to 445,000 from an upwardly revised reading of 410,000 in the prior week, the Labor Department said on Thursday. It was the biggest one-week jump in about six months, confounding analyst forecasts for a small drop to 405,000.

A Labor Department official noted the rebound occurred following the holidays, which may have hindered reporting of new claims and created a backlog.

Continuing claims retreated sharply to 3.88 million from 4.13 million, a potentially encouraging sign. However, the total number of Americans on benefit rolls, including extended benefits under emergency government programs, jumped to 9.19 million from 8.77 million.

The four-week moving average of new claims, which strips out short-term volatility in the data, rose by 5,500 to 416,500.

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


TOPICS: Breaking News; Business/Economy; Culture/Society; News/Current Events; Politics/Elections
KEYWORDS: democrats; economy; expectedlyunexpected; fail; failure; obama; obamanomics; socialism; theresthatwordagain; unemployment; unexpected; unexpectedlyexpected
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To: Oldeconomybuyer

Seems to me they were hiding the numbers before the election


21 posted on 01/13/2011 6:27:48 AM PST by Christian Engineer Mass (Capitol Hill operator 866-727-4894 toll free. Just say which Representative/Senator you want to spea)
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To: Oldeconomybuyer
...a government official attributed the sharp increase largely to administrative backlogs. Some people don't file claims right away during the holiday season and state unemployment offices are open fewer hours, leading to paperwork delays.

First it was the snow, now it's the holiday season's fault!
22 posted on 01/13/2011 6:29:18 AM PST by TSgt (Colonel Allen West & Michele Bachman - 2012 POTUS Dream Team Ticket!)
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To: Oldeconomybuyer
unexpectedly

The most abused and overused adverb in the age of Obama.

23 posted on 01/13/2011 6:37:54 AM PST by dirtboy
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To: Anotherpunkedamerican
The numbers that are spit out are indeed crap - hard to tell what the heck is going on.

From last week, I note this:

"Posted on Thursday, January 06, 2011 9:07:12 AM by Zakeet

The number of U.S. workers filing new applications for jobless benefits rose last week by 18,000 to 409,000, the Labor Department reported Thursday..."

And today this:

from an upwardly revised reading of 410,000 in the prior week...

So, was it "upwardly revised" by 1000?

24 posted on 01/13/2011 6:38:18 AM PST by C210N (0bama, Making the US safe for Global Marxism)
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To: Oldeconomybuyer

Sarah Palin’s fault.


25 posted on 01/13/2011 6:39:16 AM PST by Hoodat (Yet in all these things we are more than conquerors through Him who loved us. - (Rom 8:37))
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To: scooby321
"Its Palin’s fault." AND, obviously, Bush's too!
26 posted on 01/13/2011 6:41:38 AM PST by harpu ( "...it's better to be hated for who you are than loved for someone you're not!")
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To: Oldeconomybuyer

“...despite signs of improvement in the economy.”

What signs are they talking about?

Reuters... figures...


27 posted on 01/13/2011 6:44:44 AM PST by Sir Francis Dashwood (Arjuna, why have you have dropped your bow???)
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To: TSgt
First it was the snow, now it's the holiday season's fault!

Reminds me of the old Soviet Union, whose miserable agricultural performance was attributed to 72 years of bad weather...

28 posted on 01/13/2011 6:45:14 AM PST by COBOL2Java (Obama is the least qualified guy in whatever room he walks into.)
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To: Oldeconomybuyer
"U.S. jobless claims jumped unexpectedly..."

Drink...

29 posted on 01/13/2011 6:46:30 AM PST by Mad Dawgg (If you're going to deny my 1st Amendment rights then I must proceed to the 2nd one...)
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To: COBOL2Java
Reminds me of the old Soviet Union, whose miserable agricultural performance was attributed to 72 years of bad weather...

And potato beetles planted by the CIA.

30 posted on 01/13/2011 6:46:37 AM PST by dfwgator
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To: Oldeconomybuyer
claims jumped unexpectedly

It is amazing, astonishing, that government economists and economic advisors did not see this coming.

Many of us on FR were predicting in mid November that this would happen -- an increase in jobless claims -- after the holiday period (Thanksgiving thru Christmas/News Years) when companies layed off temporary workers hired for the holiday season.

Government economists and economic advisors need to invest in Windex to clean their crystal balls.
31 posted on 01/13/2011 6:47:13 AM PST by TomGuy
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To: updatedscreenname

You are correct. Pay real close attention to the rising health care plan costs. Thanks Nancy, Harry and Obama!

I will give Obama this much - he will unify us all by putting us on the unemployment line.


32 posted on 01/13/2011 6:47:18 AM PST by GOPRaleigh (It's gonna be a loooonnnggg 4 years...)
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To: C210N

Apparently there’s been a “trend” of upward revisions to the weekly jobless claims data, something that so defies statistics it’s amazing.


33 posted on 01/13/2011 6:50:02 AM PST by garbanzo (You better hold on; This one's about to get bumpy.)
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To: wbill

My liver is too pickled for that! ;)


34 posted on 01/13/2011 6:54:22 AM PST by Hoosier Catholic Momma (Arkansas resident of Hoosier upbringing--Yankee with a southern twang)
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To: GOPRaleigh
Someone fed the dark side of Atlas Shrugged into 0bambi's teleprompter.

Also...

he must have read at least a few pages of Sir Winston Churchill's 4 volume "History of the Second World War"

Churchill gives the key strategic targets for defeating the Nazis:

1. Destroy petroleum refining and distribution

2. Target manufacturing capacity.

Seems to me 0bambi is well on his way to accomplish both

35 posted on 01/13/2011 6:54:51 AM PST by spokeshave (Islamics and Democrats unite to cut off Adam Smith's invisible hand)
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To: Oldeconomybuyer

Funerally

Economic rally

All the same.

Noise and confusion signifying nothing.

The country is in a depression made worse by O’s mishandling of trillions of dollars.


36 posted on 01/13/2011 6:55:45 AM PST by Carley (THE MEDIA UNDERSTANDS CREDENTIALS BUT DOES NOT UNDERSTAND PRINCIPLES)
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To: Oldeconomybuyer

Meawnhile the punditry on our side is too busy drooling over The Comeback Kid’s speech.


37 posted on 01/13/2011 6:57:12 AM PST by nhwingut (Palin/Bachmann '12)
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To: JRios1968

No kidding!
Come on ‘Journalists’ - break out the Thesaurus

“out of the blue, quickly, startlingly, suddenly, unawares, unusually, accidentally, by coincidence, circumstantially, fortuitously......”

But on the other hand - those words aren’t right either...
I guess you are going to repeatedly write a lie - stick to the repetition - some will believe....

(It worked for Glowball Warming)


38 posted on 01/13/2011 6:58:00 AM PST by libertarian27 (Ingsoc: Department of Life, Department of Liberty, Department of Happiness)
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To: Oldeconomybuyer

39 posted on 01/13/2011 6:59:49 AM PST by OB1kNOb (You are free to choose your actions, but never the resulting consequences.)
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To: JRios1968

“expectedly unexpected”! :)


40 posted on 01/13/2011 7:06:49 AM PST by ETL (ALL (most?) of the Obama-commie connections at my FR Home page: http://www.freerepublic.com/~etl/)
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