Posted on 01/13/2011 6:04:09 AM PST by Oldeconomybuyer
(Reuters) - U.S. jobless claims jumped unexpectedly last week to their highest level since October, suggesting the labor market is still in a rut despite signs of improvement in the economy.
The number of Americans filing for first-time unemployment benefits rose to 445,000 from an upwardly revised reading of 410,000 in the prior week, the Labor Department said on Thursday. It was the biggest one-week jump in about six months, confounding analyst forecasts for a small drop to 405,000.
A Labor Department official noted the rebound occurred following the holidays, which may have hindered reporting of new claims and created a backlog.
Continuing claims retreated sharply to 3.88 million from 4.13 million, a potentially encouraging sign. However, the total number of Americans on benefit rolls, including extended benefits under emergency government programs, jumped to 9.19 million from 8.77 million.
The four-week moving average of new claims, which strips out short-term volatility in the data, rose by 5,500 to 416,500.
(Excerpt) Read more at reuters.com ...
Hey, that was unexpected!
Thank goodness we’re only months away from a “summer of recovery”. nobama is such a great leader.
AMEN
These people are friggin morons....
Do not fear Obama will wave his hands and make people open their eyes and call it 290,000 jobs.
re: but also
- reductions due to increased health care costs plans increasing 15% to 25%
- reductions in city, county, school employees
Add to those the fact that they threw well over a trillion dollars at the problem last year. And there’s little, if any, additional money to be thrown this year. They are, in essence, using new credit cards to pay old credit cards.
They have not solved a single problem or cut spending by a single penny. The outcome of this ‘solution’ should not be hard for anyone to figure out.
No, no...you are just wandering in a wilderness of “common sense,” which may cause early entry into “reeducation” camp!
So let's get this straight, you lied to us last week when claims UNEXPECTEDLY rose, and now the following week, claims are up by another ten percent.
Am I the only one to notice that claims have spiked up dramatically almost immediately following the Bush Tax Cut legislation which includes 99 weeks of welfare (er, unemployment benefits).
Just waiting for Friday's New York Times to report that the overall unemployment rate mysteriously dropped to 8.5%, with a subtle hint that there's a connection to Obama's inspiring 'Death in Tucson' pep rally.
Unexpected Thursday!
LLS
Yeah, but did you see that amazing outfit the first lady wore at the memorial service. Absolutely stunning!
Yeah, but did you see that amazing outfit the first lady wore at the memorial service. Absolutely stunning!
...and yet by some voodoo, the unemployment rate stays under 10% while jobless claims continue to rise. I understand how it can be so but it defies logic. I think the Administration is cooking the books to make the unemployment rate lower than it actually should be so as to keep themselves from looking as impotent as they are.
Unemployment on the rise? Unemployment is the most stable income these days thanks to endless extensions...lets see if the water still flows where the resistance is the least.
Oh-oh. The AZ shooting crisis is starting to lose steam as other economic bad news like this report starts to hit the air waves. Looks like the media & dimturds (especially the commie-pig 0b0z0) are going to have to look for another crisis to deflect the news, or just manufacture some crisis if none else is available for this coming weekend.
UNEXPECTEDLY!!! I expected that.
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