Posted on 08/18/2011 6:24:27 AM PDT by Red Badger
New U.S. claims for unemployment benefits rose more than expected last week, according to a government report on Thursday that suggested hiring in August was steady but not robust.
Initial claims for state unemployment benefits increased 9,000 to a seasonally adjusted 408,000, the Labor Department said.
Economists polled by Reuters had forecast claims rising to 400,000. The prior week's figure was revised up to 399,000 from the previously reported 395,000.
The claims data covers the survey week for August nonfarm payrolls. Claims dropped by 14,000 between the July and August survey periods, but there are fears that financial markets turbulence could have slowed hiring this month.
Employers added 117,000 jobs in July, a significant improvement from the prior two months' combined 99,000 gain.
Fears of a second recession, the loss of the nation's top-notch AAA credit rating from Standard & Poor's and the sovereign debt crisis in Europe have inflicted damage on global stock markets. That has hurt consumer confidence and may make businesses more reluctant to hire more workers.
The rise in jobless claims, which took them just above the 400,000 threshold, is unlikely to change perceptions that the economy will dodge another downturn. Claims below the 400,000 mark are usually associated with a stable labor market.
So far, data ranging from retail sales to industrial production suggest the economy found some momentum early in the third quarter after barely growing in the first half of the year.
A Labor Department official said there was nothing unusual in the state-level data. The four-week moving average of claims, considered a better measure of labor market trends, fell 3,500 to 402,500.
(Excerpt) Read more at foxbusiness.com ...
Wrecking ball SOB. Our side better turn UP the rhetoric stating flatly how he is single-handedly destroying the country with help from the Senate.
Hmmm... is that related to unexpected?
Who, exactly, is doing the “expecting”, because they are awful at their job.
I guess this news combined wit the inflation news is driving Wall Street today. As of this post it’s down over 313 points.
Looks like they were expecting it to rise, but it rose more than they expected.
Question is, why were they expecting it to rise in the first place?................
Econo-misseds.....................
NEW CLAIMS means 400,000 MORE people are out of work, and they made ONLY 117,000 new jobs.
If you lose 400k jobs each month (which we have been doing since Obummer came into office), then that makes MILLIONS of unemployed drawing food stamps, UI benefits, and countless other costs to state and federal budgets. In addition, those no longer working are no longer paying taxes...
... We need to get this economy moving again, and the real stimulus we’ve been waiting for is domestic energy development. We must reduce our dangerous dependence on foreign oil by responsibly developing natural resources here. This will provide good paying jobs, reduce our trade deficit, increase federal and state revenue, ensure environmental standards, and actually stimulate our economy without incurring any debt. That’s real stimulus! Affordable, plentiful, and secure energy is the foundation of every thriving economy. Let’s make it the foundation of ours. Let’s do the opposite of President Obama’s manipulation of U.S. energy supplies. Let’s drill here, build refineries, and stop kowtowing to foreign countries in asking them to ramp up energy production which makes us even more beholden to them as we rely on their foreign product. Let’s move on tapping our massive domestic natural gas reserves. Natural gas is the perfect “bridge fuel” to a future when more renewable sources are available. It’s clean, it’s green, and we’ve got a lot of it. Let’s drill. Let’s build an infrastructure for natural gas cars and power plants. Energy development can help kick start our economic engine.
In addition to energy security, I embrace a pro-growth agenda that can make American corporations far more competitive on the global stage. (I will be writing more about this in the coming days.) We need to tell the world, “America is open for business again!” And let’s welcome industry by reducing burdensome regulations. The Obama administration keeps strangling businesses in red tape. From the EPA’s rulings to that nightmare known as Obamacare, the Obama administration is hanging one regulatory albatross after another around the private sector’s neck. Let’s get government out of the way and give the private sector room to breathe, grow, and thrive. We can provide businesses confidence to expand and hire Americans in a stable environment.
Be wary of the efforts President Obama makes to “fix” the debt problem. The more he tries to “fix” things, the worse they get because his “solutions” always involve spending more, taxing more, growing government, and increasing debt. This debt problem is the greatest challenge facing our country today. Obviously, President Obama doesn’t have a plan or even a notion of how to deal with it. His press conference today was just a rehash of his old talking points and finger-pointing. That’s why he can’t be re-elected in 2012. ... -excerpted: Conquering the Storm
by Sarah Palin on Monday, August 8, 2011 at 5:53pm
![](416780400v4_225x225_Front.jpg")
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Elect Sarah Palin for President 2012
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But, but, but - it’s all ‘unexpected’ when it’s bad news during a dem administration. The suck up press will be able to see again when a Republican’s in office.
But, they don't count the cost of gas and food in inflation! They may not count unemployed military, contractors, or defense industry!
Revised up? You don't say! Unexpected.
But, that is what the majority of those who voted on November 4, 2008 said, via their voted, wanted.
I am unexpectedly surprised that this was not expected.
It is almost surreal how this figure keeps creeping up. At one time it was 250,00. Overt the past two years it kept increasing by 25,000 or 50,000. If Mohammed won't go to the mountain, bring the mountain to Mohammed. Its funny how they keep lowering the standard. If I didn't know better, it looks to me a little bit like affirmative action.
:)
Just another “bump in the road”?
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