Posted on 09/15/2011 6:10:15 AM PDT by quesney
Applications for unemployment benefits continued to rise in the past week, while inflation pushed higher and a key manufacturing index weakened.
Getty Images The weekly jobless claims number, which is closely watched as an indicator for employment trends, unexpectedly rose 11,000 to 428,000, well ahead of estimates of 411,000.
The consumer price index, meanwhile, gained 0.4 percent when including volatile food and energy prices, after an increase of 0.5 percent in July. The so-called core CPI, though, gained 0.2 percent, which was in line with expectations.
Consumers paid more for a range of goods and services last month, pushing up inflation and squeezing Americans' purchasing power.
For the 12 months ending in August, the core index surged 2 percent, the biggest year-over-year increase in nearly three years. That's at the top end of the Federal Reserve's informal inflation target. It could limit the central bank's ability to take further steps to try to revive the economy.
Food prices rose 0.5 percent, the biggest increase since March. That was due to higher prices for cereals and dairy products. Energy costs increased 1.2 percent.
Other indicators from a major government data release this moring also were not not encouraging: New York manufacturing activity contracted in September for the fourth consecutive month.
but but he gave a speech!
recovery summer 2.0 !
lol
It neither “unexpected” nor a “surprise”. not, at least, to those with a functioning brain.
“unexpectedly rose”
Day ain’t over yet kids, we got industrial production out in a minute or two and the Philly Fed at 10a ET.
We will never recover from the mess George Bush left us in. /s
Shovel ready ! !
Though I put a "/s" tag there, this is exactly what libs I know are saying...and it is exactly the kind of mind-set that allows this current corrupt administration to keep on "fundamentally transforming" America.
What is with this “over & over” use of the word unexpected??? CNBC, Bloomberg, AP, etc. must take us all for buffoons. I am so sick of seeing that word!!! The wording should go like this IMHO!!! The successful campaign led and directed by American POTUS Barack Hussein Obama to destroy the economy & job creation in the USA continued unabated as all meaningful financial & job numbers dropped across the board. A press release issued today from the Muslim Brotherhood, a close ally and partner to POTUS Barack Hussein Obama, congratulated Obama on his terrific and outstanding performance especially in keeping the American Black community minority in continuing economic slave status!!! These actions by POTUS Obama are in line with goals for different groups of Americans as the Muslim Brotherhood moves forward in lockstep with the America destroyer, POTUS Barack Hussein Obama!!! Praise to Obama from Allah!!!
You mean, 3.0.......2009. 2010, 2011
Every job he talked about saving were unions, Teachers, Police, Firemen and Union roadway work.
If these state can not afford all of these services we must cut NOW.
Unexpected!
The only words I want to hear from Zero are: “I’ve finally realized that I and my advisors are in WAY over our heads and ready to drown. I apologize for misleading the American people that I’m your Messiah and for following stupid liberal policies and for believing that bigger government is better government. I hereby immediately turn the presidency over to Sarah Palin.”
“If you love me, pass my jobs bill!”
Sorry, Zero, we don’t love you and certainly don’t want to pass your loser bill.
I cannot believe these fools still have the nerve to use the phrase “unexpectedly.” Under the Obama regime, this is the norm. There is nothing “unexpected” about it. Nothing.
HUH? Pls. explain....
The Dow is up 93 right now after this was released, I just can’t figure it out anymore.
- The energy index has risen 18.4 percent over the last year, while the food index has increased 4.6 percent.
- with some things such as meats and dairy up 8 and 9% respectively.
- Fuel oil was up a stunning 27%, water and sewer services up nearly 5%
- apparel up 4% and private transportation costs up an eye-popping 12% - with public transport costs skyrocketing as well (7.2%)
Everyone loves to talk about "oh it's 0.2% this month" but few will go back and look at who this hits and how hard - and how it all looks on a annualized basis. When you look at the monthly change in these categories you find no joy either. Monthly change on food was 0.6; annualized that's 7.4%. Apparel was up 2.3% last month, which you better hope doesn't continue (as it's an annualized rate of change of 31%!)
Source: CPI: Smoking!
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