Jobless claims soar

CNN Money ^ | 04/08/10 | Chavon Sutton

[AngelesCrestHighway]

NEW YORK (CNNMoney.com) -- The number of Americans filing for unemployment insurance for the first time jumped last week, according to government data released Thursday. There were 460,000 initial jobless claims filed in the week ended April 3, up 18,000 from an upwardly revised 442,000 the previous week, according to the Labor Department's weekly report.

[AngelesCrestHighway]

"Economists surveyed by Briefing.com expected new claims to fall to 435,000 in the week."

Another expectation that turns to crap under the chosen one....

[ConjunctionJunction]

Unexpected (as always!).

[Rational Thought]

More evidence the Obama Stimulus is working?

[ClearCase_guy]

I believe the new way of looking at this is “Obama has turned the economy around. People are now filled with hope. Many unemployed people are now motivated to get back into the game — and that’s why the numbers are going up. It’s ... uhhhh ... it’s a good thing.”

[NMEwithin]

April 2, 2010

"Today is a promising day," Mr. Obama told workers assembled inside Celgard LLC, the Charlotte, N.C.-based company that makes parts for high-tech batteries. "We are beginning to turn around. More Americans are now getting up, getting dressed and going to work."

[Oldeconomybuyer]

I notice that both Google and Yahoo! News sites do not have the growing jobless story on their front page. When rates fell it was their lead story. Bias? You make the call.

[AngelesCrestHighway]

Where's those green shoots Obongo?...

[coaltrain]

“More Americans are now getting up, getting dressed and realizing they no longer have a job to go to so they get undressed and go back to bed.”

[unkus]

You’re right. Doublespeak.

[Tallguy]

"The general trend in the jobs market is improving, reinforced by the decline in continuing claims," said Carl Riccadonna, senior U.S. economist for Deutsche Bank. "That's a good indication that the next move in the unemployment rate could be lower."

They say earlier in the article that the reason that the contining claims number is improving is that people are dropping off the rolls due to expiration of benefits. So somebody explain to me how THAT is an improvement??? People are falling from the ranks of the unemployed, but for the wrong reasons.

[Thermalseeker]

Many unemployed people are now motivated to get back into the game

I'd like Obamalamadingdong to tell everyone where the incentive to look for work comes from when the current unemployment compensation lasts for ninety nine weeks!

[Tarpon]

Note the last week's revision ... Always wait for the revision, the estimates are always what the lame stream media reports from wall to wall ... The revisions are when the truth comes out, after the "estimates" are touted as fact by the lame stream media.

[AngelesCrestHighway]

It’s the most ridiculous logic ever......

[Joe Boucher]

Great job there ya damn kenyan.

[KC_Conspirator]

Thats a correct headline that CNN should have been using for years.

[clintonh8r]

Always expect the unexpected!

[Tallguy]

It’s the most ridiculous logic ever......

It's like watching your 5 year old adding 2 plus 2 and getting 5... over & over again.

[The Sons of Liberty]

"The general trend in the jobs market is improving, reinforced by the decline in continuing claims," said Carl Riccadonna, senior U.S. economist for Deutsche Bank.

This could be the result of things improving, but the pessimist in me says the decline in continuing claims is because they have exhausted their benefits.

[Always Right]

You keep extending benefits, you are going to get this.

[Huskrrrr]

Obama: “Troubling news, but hey I’ve still got a job. Heh, heh..”