Unemployment filings top 400,000 for 2nd week

First-time filings for unemployment claims declined in the most recent week, but were above the key 400,000 level for the second straight week, according to a government report issued Thursday.

There were 403,000 initial jobless claims filed in the week ended April 16, the Labor Department said Thursday. That was down 13,000 from the previous week's revised 416,000. Economists surveyed by Briefing.com had expected initial claims to total 390,000 in the latest report.

Dazed&Confused wrote:here is another interesting article on this but with a blip

source: http://www.mubasher.info/portal/KSE/getDetailsStory.html?storyId=1864876&goToHomePageParam=true&siteLanguage=en

The U.S. Treasury debt prices extended gains on the report and the dollar fell to session lows against the yen.

Jobless claims below the 400,000 mark are usually associated with steady employment growth. Despite the increase last week, the four-week average has now been below that level for an eighth straight week.

BLIP: A Labor Department official said three states -- Pennsylvania, Virginia and Alaska -- had been estimated for last week's data, raising the possibility for large revisions next week.

There goes Pennsylvania again just as they did in January, can't trust them, in January they made a mistake, can't remember if they had it at 8.0 and it was actually 8.3 or the other way around, I forget with all the goings on but I believe it was corrected to 8.3. That is .3 of a point and the ur rate in PA has been falling like autumn leaves. Maybe it will go up again. I hate these triggers, there should be no need for any triggers during a situation like we have in the US. Don't they realize when people fall off EB, of course the UR is going to go down. Plus PA Gov. Corbett added some 13000 mining and logging jobs, something we have not done in years, don't know where he got the other 60,000 jobs. But we will lose 60,000 by July according to their projects. Wish I knew how they projected EB through 2011. They hoodwinked us as usual. So the moving average could go up (please) or down. It is a shame when we wish the worst, but they don't give a poop about us. I hope we have a double dip and a firing squad for the Wall STREET GANG. WHAT A MESS, HOW CAN WE TRUST THEIR NUMBERS WHEN WE NOW FIND OUT THREE STATE WERE ESTIMATED. I HATE THIS. Dazed&Tired