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Jobless claims rise more than expected

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Jobless claims rise more than expected

Post by Guest on Thu Jun 23, 2011 10:23 am

New claims for unemployment benefits rose more than expected last week, a government report showed on Thursday, suggesting little improvement in the labor market this month after employment stumbled in May.

Initial claims for state unemployment benefits climbed 9,000 to a seasonally adjusted 429,000, the Labor Department said. The prior week's figure was revised up to 420,000.

Economists polled by Reuters had forecast claims to edge up to 415,000 from a previously reported count of 414,000.

The claims report covers the survey period for the government's closely watched data on nonfarm payrolls for June.

Claims increased 15,000 between the May and June survey periods, implying little or no gains in nonfarm payrolls this month after a modest 54,000 increase in May.

http://beta.news.yahoo.com/jobless-claims-rise-more-expected-123346077.html

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Re: Jobless claims rise more than expected

Post by Guest on Thu Jun 23, 2011 11:15 am

bounce

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Re: Jobless claims rise more than expected

Post by Feyth on Thu Jun 23, 2011 11:58 am

One detail I noticed.... For over a year I've been reading that claims need to be under 375,000 for the labor market to stabilize but now this from MSNBC:

"Initial claims have now been above the 400,000 mark for 11 weeks in a row. Analysts normally associate that level [400,000] with a stable labor market."

What next, eh?

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Re: Jobless claims rise more than expected

Post by Guest on Thu Jun 23, 2011 12:05 pm

They also fail to mention that their were only two or three weeks that First Time Jobless Claims were under 400,000.

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Re: Jobless claims rise more than expected

Post by Jobless_in_Ma on Thu Jun 23, 2011 12:57 pm

That is 429k jobs too many. Im curious to see what Junes UI rate goes to from 9.1
If I had to guess I say it drops below 9% again.

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Re: Jobless claims rise more than expected

Post by exhaustedandtired/1208 on Thu Jun 23, 2011 6:08 pm

Anyone surprised ?????

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Re: Jobless claims rise more than expected

Post by laine25 on Thu Jun 23, 2011 6:38 pm

No not at all.

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Re: Jobless claims rise more than expected

Post by exhaustedandtired/1208 on Thu Jun 23, 2011 8:54 pm

what makes this much worse is in May there were only 54,000 mew jobs created. So if the rate goes down , I am going to look for the end of that rainbow!!!

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Re: Jobless claims rise more than expected

Post by laine25 on Thu Jun 23, 2011 10:53 pm

exhaustedandtired/1208 wrote:what makes this much worse is in May there were only 54,000 mew jobs created. So if the rate goes down , I am going to look for the end of that rainbow!!!

I'd like the pot of gold! lol!

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Re: Jobless claims rise more than expected

Post by jmainframe on Fri Jun 24, 2011 12:17 pm

Jobless_in_Ma wrote:That is 429k jobs too many. Im curious to see what Junes UI rate goes to from 9.1
If I had to guess I say it drops below 9% again.

Yup, as they continue to insult the intelligence of the American people...

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Re: Jobless claims rise more than expected

Post by exhaustedandtired/1208 on Fri Jun 24, 2011 2:39 pm

Yet we continue to be ignored and also when we were drawing benefits for survival they said we were sitting back and lazy and not trying to find work. But I wonder now since majority of us are still unemployed and yet out of benefits now, are we now just plain lazy and don't want to work! All the while they deny the economy is worse and also more and more unemployment new claims and new job creation running at a a pace that if it continues to be 50 or even 100,000 jobs created per month it would take 20 yrs. to even make a dent in the unemployment rate! I said over a year ago and I stand by it now, this current numbers of total unemployed is the new accepted norm and we are a throw away and expendable society! It is now a world of giving to the rich to maintain their riches and also those remaining having jobs and they get the attention and we the total unemployed are useless to them. We don't work and therefore have no taxes from no income and therefore we do not contribute to society and pay taxes. So hey! Let them die or go away!!!

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Re: Jobless claims rise more than expected

Post by Angelicrisis on Fri Jun 24, 2011 2:58 pm

It's an issue of accountability and no one who is getting the amount of money these people in Washington recieve to do a JOB want to admit that they have not done it.

I'll probably get a lot of flack for this but Obama is one of them. His passive nature at this stage toward job creation and HR589 while applying his energy toward what is soon to be WW3 and other things to put more money in corps and the wealthy's pocket has shown me that he may not be as draconian and ignorant toward his fellow man as the GOP, but it does prove the lesser of two evils is still evil. There honestly is no excuse for a leader of the most "powerful", "wealthy" nation to let this many constituants suffer and die (period).

He could've put his people on this a long time ago ( look at the extention of the unemployment deadline), but it would draw more negative attention to his performance and that is NOT a good enough reason to ignore the plight of millions imho.

Don't misunderstand me I'm not bashing him, because the GOP has done more harm to our society and culture as Americans as I've ever seen Obama or any Democrat. My point is Obama has been an enabler for the GOP on this issue for a very long time and it personally I feel it's time he was more pro-active in helping the American people/unemployed as oppose to everyone else. Stress and bi-partisan politics stopped becoming a justifiable excuse the second an unemployed person who was trying to do the right thing stopped by killing themselves.

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Re: Jobless claims rise more than expected

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