Posted on 06/17/2010 6:39:53 AM PDT by SeekAndFind
First-time applications for state unemployment benefits rose by 12,000 last week to a seasonally adjusted 472,000, the Labor Department reported Thursday, providing further evidence that U.S. labor markets remain very weak.
The previous week's initial claims were revised higher by 4,000 to 460,000 as more complete data were collected. Read the full release on the Labor Department's website.
The jobless claims report shows that the level of layoffs, while down from the peak a year ago, is too high to be consistent with robust job growth. The economy is creating jobs, but too few to bring the unemployment rate down meaningfully.
The four-week average of new claims was roughly unchanged at 463,500. The four-week average is considered a better gauge of labor-market conditions than the volatile weekly number, which can be influenced by non-economic factors such holidays, weather or strikes.
Meanwhile, the total number of people collecting unemployment benefits of any kind fell by 350,000 to 9.47 million in the week ending May 29 from 9.82 million. The number of people collecting federal benefits fell by 170,000 to 5.28 million. These figures are not seasonally adjusted.
The reduction in total claims could be related to the expiration of extended benefits for some recipients. The Senate is wrangling this week with a law that would renew the extended benefits.
The number of people who were collecting state benefits - which are typically available for 26 weeks - rose by 88,000 to 4.57 million in the week ending June 5 after plunging 234,000 the week before.
(Excerpt) Read more at marketwatch.com ...
Did I miss the word “Surprisingly” in the article?
To paraphrase George Castanza, “It’s supposed to be the summer of Zero!”
Add me as of the 30th. Oil and Gas in Houston is highly dependant on Gulf of Mexico work which isn’t looking too good now. As the rigs leave to work elsewhere we can’t expect them to drop that work and come back when we want them to in say six months so the disruption is going to be longer than 6 months. Plus NASA contractors are laying off 5000 good people. Thanks a lot Obama.
how unexpected.
Everyone drink!
Democrat, socialist response: Chinese attempting to speak english: "Could you please repeat the question,.... bad connection.... can not hear you...... Please hang up and try again later in the day when we are not busy."
I'd love to know what the "adjustment" was.
Funny, they call 4.6% the worst economy since the Great Depression and now they call 20% a recovery.
"We have tried spending money. We are spending more than we have ever spent before and it does not work. And I have just one interest, and if I am wrong ... somebody else can have my job. I want to see this country prosperous. I want to see people get a job. I want to see people get enough to eat. We have never made good on our promises ... I say after eight years of this Administration we have just as much unemployment as when we started ... And an enormous debt to boot!"
I'd rather have some change!
Unexpected
Unexpected
Unexpected
Unexpected
Unexpected
A shell game or Three Card Monte with the unemployed..............
See Post #9.
They’ll just make the Census an annual event...problem solved!
Unexpected Thursday
(Pleasant Valley Sunday - with apologies to the Monkees)
The White House Press Corps down the hall
Is trying hard to learn their song
Seranade the weak kneed Gibbs, who just came out to make them yawn
Another Unexpected Thursday!
Spilled Oil burning everywhere!
Rows of houses they’re all the foreclosed
And no one seems to care
See Mrs. O, she’s proud today because her roses are in bloom
Mr. O he’s so serene, He’s on TV in every room
Another Unexpected Thursday
Here in Unemployment land
The Press complains about how high it is
And the people just don’t understand
Creature comfort goals
They only numb my soul and make it hard for me to see
My thoughts all seem to stray, to places far away
I need a change of scenery
Ta Ta Ta...
Another Unexpected Thursday
Spilled Oil burning everywhere!
Another Unexpected Thursday
Here in Unemployment land
Another Unexpected Thursday...
In California, extended unemployment benefits are no longer available. In addition, the 65% cost reduction in COBRA premiums is no longer being offered.
RE: They’ll just make the Census an annual event...problem solved!
Make it monthly, then we’ll have full employment. /s
The date of that quote is May 9, 1939. I know it by heart because I’ve used that quote in many arguments with libs.
BP will be blamed! After Bush of course!
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