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.

[littleharbour]

Always Right wrote:

“You keep extending benefits, you are going to get this”

Exactly right. If you subsidize something, you get more of it. UI is supposed to be an insurance scheme of limited duration. Once you convert that into an unfunded government entitlement of unlimited duration (which is what all of these extensions effectively do), then it becomes a long-term drag on the economy instead of a short-term protection for workers. The problem is, when will the Feds say enough is enough? They’ve already created an expectation that further extensions will be forthcoming automatically, as the outcry over Tom Coburn’s stand clearly demonstrates.

[dragnet2]

Bookmark

[MNDude]

Just one more stimulus bill should solve the problem.

[Uncle Miltie]

Buttttt.... I’m feeling all Hopey Changey!

[bert]

There is already a line around the block. The folks are in line to pick up their cards to get their free health care.

The cards are available at all congressional offices and must be presented to get the free treatment

[Campion]

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???

It's sort of like saying the situation of the passengers lost when the ship sank is improving because they're screaming less. (But drowning more.)

[WOBBLY BOB]

If 99 weeks are good, 299 weeks would be Obamarific!

[gathersnomoss]

“460,000 initial jobless claims filed in the week ended April 3,”

460,000....IN ONE WEEK!!

Where is the outrage?
Where is “The Malaise Factor?
Why not “America Held Hostage, Day #443”?
Where are the broadcasts on “the homeless”????
Where are “the actual jobless numbers”...Why the lies?
Where is the outrage because of $3.00 plus gasoline prices?
Where are the stories regarding the current foreclosures?
What about the upcoming flood of foreclosures?

We citizens are in for a very long ride into further Progressive policies that will destroy our livelihood. Pray.

[DonaldC]

Maybe things are not so bad afterall...

http://news.yahoo.com/s/ap/20100407/ap_on_bi_ge/us_earns_gm;_ylt=At82GTj1i4mWR9bdy2yAFdrv5rEF;_ylu=X3oDMTI4OTU1cmRzBGFzc2V0A2FwLzIwMTAwNDA3L3VzX2Vhcm5zX2dtBHBvcwM2BHNlYwN5bl9tb3N0X3BvcHVsYXIEc2xrA2dtcmVhZHl0b3JlcA—

http://news.yahoo.com/s/ap/20100408/ap_on_bi_go_ec_fi/us_retail_sales;_ylt=AvJM7bPqOX._DzeHUpyA.v_v5rEF;_ylu=X3oDMTJsbzgyY3BtBGFzc2V0A2FwLzIwMTAwNDA4L3VzX3JldGFpbF9zYWxlcwRwb3MDOQRzZWMDeW5fcGFnaW5hdGVfc3VtbWFyeV9saXN0BHNsawNyZXRhaWxlcnNyZXA-

[Campion]

If you have marketable job skills there is work to be had.

Have you tried looking for work since September, 2008?

I'm in the market right now. There are very few jobs and very many applicants chasing them.

[American Quilter]

Kell soopreez.

[WOBBLY BOB]

Yeah, and I “have a chance” of winning the lotto.

http://www.youtube.com/watch?v=KX5jNnDMfxA

[Del Rapier]

Slavery reinstated 101

Bought to you by the party of Democracy.

[Mad_Tom_Rackham]

"Don't worry! Don't worry! Those are just private sector jobs -- people working for the evil corporations, insurance companies, banks. We're creating good jobs. Union jobs. GOVERNMENT JOBS! Those are real jobs!"

[gathersnomoss]

My benefits are done tomorrow, at 18 weeks.

“Wait Till The Sh!t Hits The Fan”

http://www.youtube.com/watch?v=U8r79kLk_Hw

[gathersnomoss]

“ninety nine weeks!”

Not if you started benefits on December 1 here in VA. There is a bit of a “donut hole” where the benefits end at 18 weeks.

[SeekAndFind]

There were 460,000 initial jobless claims filed in the week ended April 3.

I'm trying to understand thsi figure, especially the word --initial. This tells me that 460,000 were newly laid off. Am I right in my understanding ? If so, WHEN were they laid off ? the previous week ?

If this is the case, that's a huge number. If say 450,000 people are newly laid off per week, that amounts to close to 2.5 Million people a year if you extrapolate it.

Somebody help this poor ignoramus trying to understand the figures.

[jennyjenny]

Don’t you have to provide proof you’ve applied for jobs each week in order to continue to receive benefits?

[gathersnomoss]

“The Senate adjourned before Easter, leaving the Jobs Bill (Stimulus 2), in limbo which included........unemployment extensions!”{

I have to wait until congress returns to see if I can get an extension beyond 18 weeks. No jobs to be found. Looking at starting my own company.

“Strange Days”....Humble Pie

http://www.youtube.com/watch?v=4H9HH9fdnzE