Skip to comments.U.S. jobless claims rise sharply to 6-week high
Posted on 01/12/2012 9:07:30 AM PST by sunmarsEdited on 01/12/2012 9:40:00 AM PST by Admin Moderator. [history]
WASHINGTON, Jan 12 (Reuters) - The number of Americans applying for first-time jobless benefits rose last week, a report showed on Thursday, reversing a recent decline and suggesting the labor market remains brittle. Unemployment claims jumped to 399,000 in the first week of 2012, the highest in six weeks, from an upwardly revised 375,000 in the prior week. The four-week average of claims also marched higher to 381,750 from 374,000. The Labor Department report also showed 3.63 million continuing claims, up from 3.61 million. Including the millions of workers receiving benefits under emergency federal programs, some 7.3 million Americans were receiving unemployment benefits as of Dec. 24, the most recent date for which comprehensive figures are available. The U.S. unemployment rate has fallen sharply in recent months and was 8.5 percent December, but some economists worry the drop has been due in part to discouraged workers dropping out of the labor force.
(Excerpt) Read more at cnbc.com ...
I’m not believing “399,000” for a second. They’ll be quietly revising that one north of 400K within a few weeks. It’s all a frickin’ game with this group.
Is there ANYTHING good that we can count on?
Snow started this morning in Chicago. We have had almost none so far this season. It might all come at once.
have a friend in construction up north in liberal hell hole MA and he said he’ll be soon signing on unemployment but thye have had no snow yet either.
Not while the Messiah in Chief if running/ruining things.
It is kinda funny that the predictions of the worst winter in years has been shown to be over-wrought yet predictions of the weather decades ahead are still given any credibility.
We are still expected to believe Al Gore when he claims the Earth will be too warm fifty years from now.
Once all the mall Santas got laid off...BINGO
yea they tell us how the earths weather will be in 20 years and yet can’t even get the weather forecast right for tomorrow.
According the the BLS the current unemployment figures are:
U3 (official): 8.5%
Personally, I believe that if accurate these numbers would indicate that the U3 is much closer the U6 and the U6 is in the 20-30% range.
Every week, every month, every quater, this administrator revises the economic data “downward”. If I was a conspiracy nut, I might think they were cooking the numbers for their own political benefit.
Aren’t these “the seasonally adjusted” numbers? the actual numbers around 600,000?
That reminds me of Algore: "Everything that should be UP is DOWN and everything that should be DOWN is UP!"
C'mon, Al! Let's hear you say it again. I'll give you $100 worth of cheeseburgers.
FORGET IT AL! I've got the video!
And of course the DJIA shaved about 180 points for the day, just like it gained about 180 when the news recently was that the jobless claims were down.
Funny how that only works one way.
And skewered/flooded by Federal and government pensions/retirements, the false so called “market” stays high, while rates for savers is stolen due to the resulting high commodity prices.
“how many times do these fools think we are going to believe that claims and the unemployment rate have gone down?”
As many times as they can make the claims between now & November. There simply too many unemployed (and underemployed), who know far too many people, for Americans to believe that there has been even a miniscule improvement in the job market. Less people are working every day, regardless of how that calculates in an “unemployment figure”, and those that are working are earning less in a real sense. Our standard of living has dropped far in the last three years, with few exceptions (the government workers that have survived layoffs), and there are not enough of them to keep the White House or Congress.
“Trumping up the economy hurts Obama in some ways as it encourages those no longer looking for work to start looking againwhich moves them to the unemployeed #.”
It also hurts him because people think he is completely disconnected from the American reality (as he obviously is). When he speaks of things being better, people think either 1) he is very naive, or 2) he is deliberately downplaying their plight. An increasing number of people are switching from the the former to the latter; he is doomed.
“400,000 is the `psychological barrier` so VOILA, the number is 399,000.”
Exactly; the same was true of 10% unemployment (while the real number soared north of 15%). This is one thing they can’t spin; too many people have first-hand knowledge of the unemployment situations through family & friends.
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