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 ...
American kids at college learning how to become drunks and drunke wh**es and more manipulated by TV.
I have been keeping track for the last six weeks. The average revision has been +2,166. There have been no downward revisions. I think that this holds pretty true for the past year, but I have not done the research.
this shouldnt be a surprise to anyone. They’ve been cooking the books to make the dems look better. Now that the House is under republican control they can start showing how bad it really is and blame the repubs for roadblocking everything. Its all about 2012.
Good post devolve.
seasonal employment over...what’s the surprise?
look on the bright side, the number of jobs saved or created by Obama has topped 17 trillion.
Oh, boy... here comes that head-scratching “U” word again.
Ping and double ping.
.
Thanks potlatch
“SANTA FIRES ELVES AND BARBEQUES REINDEER”
.
O.K.....!
unexpected... upwardly revised... confounding... biggest jump
Only an “expert” would be “confounded” and find this news “unexpected.”
Jobless claims jump, housing prices are approaching depression era numbers and still they say there are signs of improvement in the economy. Hmmm.
What to believe. The govt media or our own eyes.
Did not O just get a six point bounce in one poll? WTH is wrong with people?
On a related note, I know two guys who work in hi-tech of some sort sales and both tell me that not only are there no sales out there but that they can’t collect on anything and many of their clients are going bankrupt.
More evidence the stimulus didn’t work.
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