Skip to comments.New jobless claims post biggest jump in 6 months
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 ...
9.19 million people received some kind of state or federal benefits in the week of Dec. 25, on an unadjusted basis.
That was up 422,523 from the prior week
That would account for people well over the extended benefit levels.
Yeah, but did you see Obama’s SPEECH last night? Oh my Gawd, it was soooo unifying.
Its reports like this that drives the debate against the Government, it needs to be ban or someone will get killed. Its Palin’s fault.
After-Christmas layoffs...no real surprise here.
Is it me? (probably) But all the hysteria over the improved Dec. hiring, and now “Unexpected” first time claims. Could it be anything to do with Holiday shopping hiring and firing come Jan.?
Silly people, don’t you know the whole nation was healed last night? Who gives a damn if we have jobs?
We have Barry. /sarc
and on a side note how “unexpected” *DRINK!*
p.s. also note the oh so predictable revision of last weeks numbers UP!
sad, who do they think they are fooling!
Exactly who cares that the country is still in the sh!tter, Gabby opened her eyes!111!
Too much jive, not enough thrive.
Still looking for that pony in the poop, eh, Reuters?
post Christmas yes,
- reductions due to increased health care costs plans increasing 15% to 25%
- reductions in city, county, school employees
Nothing appears to be happening (no changes in the numbers) followed by a sudden forward movement (unexpected increase) followed by some backward drift (slight improvements) as inertia attempts to return to its initial conditions.
The problem in the freight yard, like our economy, is sudden and irregular application of movement. Until the train leaves the restrictions of the switch yard and is allowed to run free nothing good can happen. My question is when will the switch man (Obama and his czars) let the economy run free? BTW - the size differential between a man and the freight train was chosen to show just how little Obama and his czars are when compared to the rest of the nation and its economy.
Every time these figures are announced, it brings into question their validity. How much back room manipulation goes into these compilations?
Am I the only one that is feeling the heat or is everyone in the pot of ever increasing hot water enjoying themselves?
Unexpected my tucchus.
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