Posted on 12/17/2009 6:10:02 AM PST by blueyon
WASHINGTON (AP) - The number of newly laid off workers filing claims for unemployment benefits unexpectedly rose last week as the recovery of the nation's battered labor market proceeds in fits and starts.
The Labor Department said Thursday that the number of new jobless claims rose to 480,000 last week, up 7,000 from the previous week. That was a worse performance than the decline to 465,000 that economists had expected.
(Excerpt) Read more at apnews.myway.com ...
It's already too late. There's no peaceful way back from here.
“Unexpectedly”. Everything that happens now happens “unexpectedly”. “Unexpectedly” my left foot.
Remembering when I collected for a little while back in 2001, you had to submit a claim form each week, or every two weeks to get your check, and you had to list the names of three companies that you had applied to on the form. If you listed a company you hadn’t actually applied to, well you’d be in trouble if they checked up on you, but I doubt if they’re doing a lot of checking up on people these days. I never had the nerve to fake it though, and besides, I was looking hard for a job.
How can bad economic news ever be “unexpected” when there is a narcissitic, jobs-killing, spread-the-wealth-around Marxist in the White House?
I fully expect bad news, since his intention is to trash the capitalist system in order to set the stage for “fundamentally transforming the United States of America”
The auto industry is his model. First you destroy it by regulating the hell out of it, forcing it to make a product that nobody wants, then you seize it from the ruined investors at gunpoint and then you turn it over to your cronies.
Google: Results 887,000 for obama unexpectedly
Hey AP, here's another word for you:
-d
n
d
n-s
) 1. The state of being redundant.
2. Something redundant or excessive; a superfluity.
3. Repetition of linguistic information inherent in the structure of a language.
4. Excessive repetition in expression.
That makes two weeks in a row where the new claims rose “unexpectedly” another couple of weeks of these “unexpected” increases should make them expected to even the most dogmatic of Obama supporters...
You don’t get very much money either — The maximum weekly benefit amounts range from $133 in Puerto Rico to $646 in Massachusetts. Those figures may not be current.
Unexpectedly? I’ve been pointing out for many months that nobody is going to hire because of the items below.
Tuesday, December 15, 2009 2:15:55 PM · 2 of 14
Uncle Miltie to blam
What if nobody wants to borrow or hire due to:
1) Nationalized Healthcare
2) Nationalized Autos
3) Nationalized Banks
4) Nationalized Home Loans (FHA)
5) Nationalized Student Loans
6) Forced Unionization
7) Increased Carbon Taxes
8) Increased Income Taxes
9) Increased Capital Gains Taxes
10) Increased Death Taxes
11) Increased Health Care Taxes
12) Massive Budget Deficits ruining the Dollar
13) Massive Printing Press operations ruining the Dollar
YEah, but it’s been going on for years. It’s like saying “some say the economy is recovering nicely.”
The reality makes the claim of “Unexpected” another “You lie!” for 0b0z0’s Chicago Thug Administration.
Obama has created an economic environment where nobody feels secure in their job, unless they work for the government of course.
LLS
It’s only a depression because they stubbornly refuse to do the things that would get it going again, much like Roosevelt. But I fear you are right - and what the heck. Who wants to go back to the stupid crap we’ve been living with for the last generation.
My thought exactly. The "experts" sure are stymied these days.
But then what? They never seem to follow the logic train through to its conclusion. You wind up with a car company making cars nobody will buy.
shouldn’t be unexpected. they were christmas season hires. the first wave will be let go, because sales and consumer confidence is low. they’ll keep some through gift return times ‘til about mid-january.
lots of the so-called decline in jobless claims was due to the seasonal hiring that begins about late october.
this has always been standard stuff. i wonder why the lamestream is forgetting it this non-bush year?
The final point is this: half a million jobless claims were filed. this contrasts with the so-called claim of only 7000 lost jobs and last week’s 10.0 unemployment numbers.
They discount most of the new claims somehow as part of the “standard workforce turnover.” There probably is such a thing as workforce turnover. How would you differentiate a chronic turnover, though, that wasn’t just standard turnover.
I’d suggest that you look at a combination of long-term chronic high unemployment rate + underemployment rate + stopped searching rate.
Obama has created an economic environment where the full faith and credit of the government of the United States means nothing. In the past, sure everybody knew we were running up debts that could never be repaid, but it seemed that we would be able to keep kicking the can down the road, so confidence remained high. Now, NO ONE thinks we can keep kicking the can down the road, so our investors are bailing.
Also, when a Republican is in office and the unemployment rate is 4.6% (national average, 2007) it's "the worst economy since the Great Depression".
When a Democrat gets into office and nationalizes the banking and automotive industries while simultaneously selling the country into "unprecedented" and certainly "historical" debt (tanking the dollar, probably beyond recovery), it's the Republican's fault.
I fear you're right. IMO, out here in flyover country, the plan was for Boomers to retire on schedule, and the Xers would be promoted to fill the shoes of those retiring. The meltdown of 2008 set that plan back by a minimum of five years.
Management overreacted on layoffs, thanks to the $hitstorm of legislation in Washington: Porkulus, cap and trade, and the continuing uncertainty of health care legislation. Add to that the expected spike in income tax rates for businesses and individuals alike, and one can easily understand the overreaction on layoffs.
A seismic shift is taking place in what was once thought of as "safe and stable" careers, accounting to be specific. Big 4 firms have laid off 25% of staff over the past 18 months. Temp service companies have seen their profits fall by 90% and more (Robert Half). Accounting departments have been cut into the bone, which will lead to restatements of financial statements and amended tax returns for years to come. Management's attitude is "we'll deal with that later."
The professionals that I know and respect are smart people, and will figure out a way to survive these difficult times. In the interim, their spending will be limited to bare necessities. On a macro level, this implies no surge in consumer demand, which is necessary to sustain any economic growth.
When you also factor in the ongoing deleveraging of the average American, it's unrealistic to expect anything more than a stagnant economy during 2010.
Larry Summers may be book smart, but he's clueless about what's going on beyond the Beltway.
I think I checked a couple months back, and in Texas, even as a reporter (we make less than entry-level teachers), it wouldn’t pay me my full salary.
I love what I do, but I need to make more money needless to say. Maybe go into PR or something. My wife and I just don’t make enough to survive if a major emergency occurred.
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