Jobless claims post surprise increase last week to 428,000 highest since June.

Reuters ^ | Reuters

[sunmars]

The number of Americans filing new claims for jobless benefits rose unexpectedly last week in a sign concerns about a weak economy were sapping an already beleaguered labor market, data showed on Thursday.

Applications for unemployment benefits climbed to 428,000 in the week ending September10 from an upwardly revised 417,000 the prior week, the Labor Department said.

It was the second straight week in which claims rose. Wall Street analysts had been looking for a dip to 410,000.

Excluding one week in early August, claims have held above 400,000 since early April. A Labor Department official said there was no discernible effect from Hurricane Irene or other storms in the national reading.

The four-week moving average of claims, which smooths out volatility, rose to 419,500 from 415,500 the prior week.

Continuing claims eased to 3.726 million in the week ending September 3 from 3.738 million the previous week. The number of total recipients on benefit rolls was 7.144 million.

U.S. employment growth ground to a halt in August, with zero net job creation raising fears of a new recession and putting pressure on the Federal Reserve to ease monetary policy further at its meeting later this month.

[icwhatudo]

“from an upwardly revised 417,000 the prior week”

Well that was unexpected.
/s

[Jmouse007]

Somebody queue Gomer Pile: "well golly, surprise, surprise, surprise!"

We are in a DEPRESSION as a direct result of Imam-Obamessiah and HIS Marxist, socialist, communist, anti-American, anti-capitalist economic "spread the wealth" policies.

No one with an ounce of brains in their head is surprised. Only Imam-Obamessiah's socialist apologists, sycophants and minions in the MSM and in the political realm.

Americans are so sick and tired of this lying bunch of pond scum and can not wait to vote Imam-Obamessiah, Queen Moochiel Antoinette and every one of the Democrats (and RINO Republicans) who have whole-heartedly supported them in their quest to "fundamentally transform America."

[Jmouse007]

OUT OF OFFICE IN 2012!

[Roccus]

FTA

A Labor Department official said there was no discernible effect from Hurricane Irene or other storms in the national reading. [emphasis mine]

[John W]

And...

U.S. consumer prices jump 0.4% in August: ‘Core’ rate highest since late 2008
http://www.freerepublic.com/focus/f-news/2778717/posts

[Erik Latranyi]

24 weeks of the same thing cannot be a surprise.

The only surprise is that the people who conduct the predictions have not lost their jobs!

[Jmouse007]

Great minds think alike: see post #22!

[mewzilla]

Wow. Wonder if the dude still has a job this morning...

[massmike]

SURPRISE!!!!!

[jennings2004]

No, no, no, how will we ever be able to do without our leader in women’s fashion....oh, no.../s

[harpu]

EXCELLENT!!

Great humor must have some basis of fact!

[John W]

Obama’s trifecta for the day after unemployment and prices/wages-—

Manufacturing activity across the New York region unexpectedly weakened in September, according to the New York Federal Reserve Bank’s Empire State manufacturing index. The index fell to a reading of -8.8, from August’s level of -7.72. The market had been anticipating a reading of -4 for September.

[TomGuy]

Even with 99 weeks some claims run out.

But they could get another extension. PASS THE BILL NOW. PASS THE BILL.

Yeah, that's just what we need -- another half-$trillion spending bill. Those others worked so great.


[/s]

[mewzilla]

I spoke too soon. Lookee what just popped up....

U.S. Economic Data Disappoints

Ian Shepherdson, chief U.S. economist at High Frequency Economics, cautions that jobless claims could be skewed by Hurricane Irene. This didn't happen last week but Shepherdson says that the "danger is not yet passed."

Snort.

[Roccus]

Wasn't aware that High Frequency Economics was part of the administration but, not working for the government, I'm just part of the vast, ignorant unwashed....whaddo I know anyway?

[no-to-illegals]

Me thinks that the shovel companies located overseas. The taxes were less, and the shovels aren't coming back home anytime soon. Pass Gohmert’s bill and we can bring the shovels home.

[no-to-illegals]

Federal Reserve to ease monetary policy further at its meeting later this month.

Gee .. that was tried and did not work, made the ditch deeper, and prices went up ... up ... up. Albert Einstein was correct. ALBERT ... they think you are an idiot.

[RetiredArmy]

The sad thing about all of this is, there is no one here on this earth that can fix this mess. It is made. We do not have the resources to fix it. We are so in debt we are not going to get out. Just think about it. If you earn $40,000 a year and you have a debt of $20 million. How long is it going to take you to pay that off at $775 per month? It ain't gonna happen. As long as we continue to pour wasted money around the world and into those here who are not citizens, we are screwed. No republican, dimocrat, independent, whatever can fix this mess. Not in our life times. Our great grandchildren will still be fooling with this mess tons of years from now.

[phormer phrog phlyer]

When I was in Baghdad I called it a place where the “abnormal was normal” I never thought that the same would begin to apply to the U.S.

[mandaladon]

The one thing that will not be” unexpected­” will be Obama’s defeat in the next election.