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US new jobless claims fall to 550,000 ("a sign of further healing")
AFP on Yahoo ^ | 9/10/09 | AFP

Posted on 09/10/2009 10:47:32 AM PDT by NormsRevenge

WASHINGTON (AFP) – New US jobless claims fell to 550,000 in the past week, the government reported Thursday in a sign of further healing in the critical labor market.

The seasonally adjusted number of claims fell by 26,000 in the week to September 5, the Labor Department reported.

The figure for weekly claims was better than analyst expectations for 560,000.

The four-week moving average, which smooths out week-to-week volatility, was 570,000, a decrease of 2,750 from the previous week's revised figure.

(Excerpt) Read more at news.yahoo.com ...


TOPICS: Business/Economy; Culture/Society; Extended News; Government
KEYWORDS: claims; healing; jobless

1 posted on 09/10/2009 10:47:32 AM PDT by NormsRevenge
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To: NormsRevenge

Hope & Change!


2 posted on 09/10/2009 10:49:18 AM PDT by Jagman (They comport, We deride!)
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A bar chart showing the monthly US unemployment rate since Aug 2008. US unemployment climbed to 9.7 percent last month as 216,000 jobs were lost, according to official data Friday highlighting fragile labor conditions as the economy struggles to emerge from recession. (AFP/Graphic/Laurence Saubadu)


3 posted on 09/10/2009 10:49:43 AM PDT by NormsRevenge (Semper Fi ... Godspeed .. Monthly Donor Onboard)
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To: NormsRevenge

Less bad is the new good.

Less bad is the new good.

Less bad is the new good.

Less bad is the new good.

Less bad is the new good.


4 posted on 09/10/2009 10:50:06 AM PDT by GOPsterinMA (Who paid for Mary Jo Kopechne's funeral?)
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To: Jagman

Yup, the Dems mantra of late

since the dems have risen to power , the numbers are staggering.


5 posted on 09/10/2009 10:50:37 AM PDT by NormsRevenge (Semper Fi ... Godspeed .. Monthly Donor Onboard)
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To: NormsRevenge
They expected losses of 560,000.
They got losses of 550,000.

In a month, they will revise the figures up by 20,000.

Jobs losses are actually worse than expected -- but they won't write the article quite that way next month.

6 posted on 09/10/2009 10:52:19 AM PDT by ClearCase_guy (Play the Race Card -- lose the game.)
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To: NormsRevenge

Really !

As we have lost a significant number already, consider this:

100 is 10% of 1000.
But as the 1000 number decreases month after month, the 1000 becomes 950 and so 10% of that will be 95. Is that a savings of is the total pool coming down so as to have the numbers ‘seem’ to come down?


7 posted on 09/10/2009 10:52:56 AM PDT by George from New England (escaped CT 2006; now living north of Tampa Bay)
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To: NormsRevenge

Wow, Obama saved us another 10,000 jobs!!!! What a guy.


8 posted on 09/10/2009 10:53:32 AM PDT by Always Right
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To: NormsRevenge
These scum are something else. Until Bush had months and months of adding jobs it was a “jobless recovery.” A simple drop in new unemployment claims wouldn’t be reported as “healing” for sure.
9 posted on 09/10/2009 10:53:48 AM PDT by colorado tanker (Barack Obama is an old Kenyan word for Jimmy Carter)
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To: NormsRevenge
So I have a question. Official unemployment is at 9.7%, unofficial is about 16.8%. The number of foreclosures ise still a record highs. The dollar is dropping in value. There are empty storefronts all across the fruited plain.

Why is the stock market going up? What is the latest comspiracy theory to explain this?

10 posted on 09/10/2009 10:54:28 AM PDT by ProudFossil
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To: NormsRevenge

“When federal emergency programs are included, the total number of jobless benefit recipients was 9.16 million people in the week that ended Aug. 22, up from 9.14 million in the previous week. Congress has added up to 53 extra weeks of benefits on top of the 26 typically provided by the states.”

THAT IS THE REAL number to worry about. Long term unemployment is rising rapidly. An increase in long term unemployment of 200k in one week! Extend that over 52 weeks and you have another 10 MILLION people unemployed.

As much as Obama and his Labor Dept try to massage the numbers, 550k weekly claims will continue to translate into much higher unemployment numbers down the road.

The only way they are keeping the overall unemployment number down is to drop people they claim ‘have stopped looking for work’. Even the Messiah can’t cover this up for much longer.


11 posted on 09/10/2009 10:55:04 AM PDT by milwguy
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To: ProudFossil

I think that the stock market is going up because the biggest expense for most businesses is employing people. Since people are still losing their jobs and there aren’t many new jobs being created, individual companies have lighter expenses.


12 posted on 09/10/2009 10:56:51 AM PDT by utahagen
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To: GOPsterinMA

We have good news and bad news Mr. President.

The good news is, the economy has stabilized.
The bad news is, it’s in a coma.


13 posted on 09/10/2009 10:57:21 AM PDT by MarkeyD (OBAMA. Chains we can believe in!)
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To: Always Right
Never mind that no one — not the Labor Department, not the Treasury, not the Bureau of Labor Statistics — actually measures “jobs saved.” “The expression ‘create or save,’ which has been used regularly by the President and his economic team, is an act of political genius,” writes Mr. Mankiw. “You can measure how many jobs are created between two points in time. But there is no way to measure how many jobs are saved. Even if things get much, much worse, the President can say that there would have been 4 million fewer jobs without the stimulus.” Harvard economist Greg Mankiw http://online.wsj.com/article/SB124451592762396883.html
14 posted on 09/10/2009 10:58:27 AM PDT by Para-Ord.45
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To: milwguy

Right, and there are thousands and thousands of people who are losing their unemployment benefits each month. They are no longer counted as ‘unemployed’.

My guess is that the REAL unemployment figure is around 20% or more..........


15 posted on 09/10/2009 10:58:42 AM PDT by RRTJSP...........
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To: NormsRevenge

New-speak, double-speak, lies, spin, distortion, misrepresentation, deceit, deception, whatever. Emperor Zero has no clothes.


16 posted on 09/10/2009 10:59:45 AM PDT by LikeLight (http://www.believersguidetolegalissues.com)
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To: GOPsterinMA

You read my mind.

Five times.


17 posted on 09/10/2009 11:00:19 AM PDT by RobRoy (The US today: Revelation 18:4)
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To: ProudFossil

Very easy answer to your question. Banks have been GIVEN trillions by the Federal Reserve. We KNOW they are not lending it to consumers because consumer credit is going DOWN not up for the first time since 2003. We know they are not lending it to homeowners, because foreclosures are still rising. We know they are not lending it to business, because businesses are laying off people, not expanding.

Where do you think the banks are putting this money? They are putting into stocks for one simple reason. The only way they can get out of the pickle they are in is to raise the price of their shares and thus increase the amount of equity they have. A rising stock price does exactly that. The banks are in essence investing inthemselves in order to make themselves look more healthy. This is all being down with the full blessing of Ben Bernanke and his buds at the Fed. The stocks of financials have risen more on a % basis than about any class of stocks, ask yourself how banks on life support a year ago are now suddenly healthy.

On a side note, gold and silver stocks are flying. This is merely GS and JPM and others hedging their bets in case USD collapses because Chinese tire of our games.


18 posted on 09/10/2009 11:00:19 AM PDT by milwguy
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To: ProudFossil

Layoffs increase profit. Plus bailout and stimulus money are being funneled into lots of companies, especially the “green sector”, with the promise of much more to come.

The market’s a house of cards right now.


19 posted on 09/10/2009 11:01:16 AM PDT by WhistlingPastTheGraveyard (Some men just want to watch the world burn.)
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To: milwguy

correction, increae equals over a million jobs lost not 10 million.


20 posted on 09/10/2009 11:01:27 AM PDT by milwguy
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To: ProudFossil

>>Why is the stock market going up? What is the latest comspiracy theory to explain this?<<

Well, you gotta put the dollars somewhere and all the mattresses are full.


21 posted on 09/10/2009 11:01:50 AM PDT by RobRoy (The US today: Revelation 18:4)
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To: NormsRevenge

Geithner is on TV right now and there’s a gal with a sign behind him that says “Where did the $ go” and “We need jobs”, LOL!


22 posted on 09/10/2009 11:03:32 AM PDT by ladyvet (WOLVERINES!!!!!)
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To: RobRoy; MarkeyD

Great minds and all that...

ANYBODY that thinks the economy is getting better should not have the ability to vote or reproduce.


23 posted on 09/10/2009 11:05:52 AM PDT by GOPsterinMA (Who paid for Mary Jo Kopechne's funeral?)
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To: ladyvet
Geithner is on TV right now and there’s a gal with a sign behind him that says “Where did the $ go” and “We need jobs”, LOL!

I presume she'll be made to apologize.

24 posted on 09/10/2009 11:07:57 AM PDT by NewHampshireDuo
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To: NormsRevenge

Good news: The recession has ended.

Bad news: The Depression has begun.


25 posted on 09/10/2009 11:13:31 AM PDT by VRWCRick
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To: milwguy
Where do you think the banks are putting this money? They are putting into stocks for one simple reason. The only way they can get out of the pickle they are in is to raise the price of their shares and thus increase the amount of equity they have. A rising stock price does exactly that. The banks are in essence investing inthemselves in order to make themselves look more healthy. This is all being down with the full blessing of Ben Bernanke and his buds at the Fed. The stocks of financials have risen more on a % basis than about any class of stocks, ask yourself how banks on life support a year ago are now suddenly healthy.

Actually, I think you are wrong about this. I believe banks are parking their TARP cash in U.S. Treasury bills -- which explains why interest rates in the U.S. are so low these days even though the Federal government is running an enormous budget deficit.

26 posted on 09/10/2009 11:14:55 AM PDT by Alberta's Child (God is great, beer is good . . . and people are crazy.)
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To: Alberta's Child

Only part of their cash. Not all. It makes sense because the gov’t is giving them money for free and then borrowing it back and paying interest.

If you look at the Treasuriy auctions lately, it shows ‘indirect’ parties are buying an increasing amount of the debt. The MSM trys to portray this as meaning central banks of other countrie are soaking up the debt, but in reality a large part is banks doing the gov’t bidding.


27 posted on 09/10/2009 11:22:23 AM PDT by milwguy
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To: Alberta's Child

Sept. 10 (Bloomberg) — The Treasury Department’s $12 billion sale of 30-year bonds may draw a yield of 4.289 percent, according to the average forecast of seven bond-trading firms surveyed by Bloomberg News.

The auction is a reopening of the record $15 billion 30- year bond sale on Aug. 13, and the securities mature in August 2039. They yielded 4.305 percent in pre-auction trading. Bids are due by 1 p.m. New York time.

The August sale of the so-called long bond drew a yield of 4.541 percent, the highest in two months. The bid-to-cover ratio, which gauges demand by comparing the amount bid with the amount sold, was 2.54, compared with 2.36 at the July auction. The average ratio for the past 10 sales is 2.31.

Indirect bidders, the class of investors that includes foreign central banks, bought 48.1 percent of the notes at the August sale, down from 50.2 percent at the previous sale. The average for the past 10 auctions is 34.5 percent.


28 posted on 09/10/2009 11:24:40 AM PDT by milwguy
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To: NormsRevenge

An absolute pack of BS lies, this article is. There is that “expectations” word again. This would be considered a losing month by anybody.


29 posted on 09/10/2009 11:26:27 AM PDT by KC_Conspirator
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To: ClearCase_guy

The Labor Day weekend may have influenced people attending family vacations to delay making new claims. Monday the unemployment office was closed so this week new claims will be down about 10%. Next week claims will probably shoot back up.


30 posted on 09/10/2009 11:27:02 AM PDT by Reeses
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To: NormsRevenge

Is that spin or what? Over half a million people lost their jobs, but this is good news.

May I steal a line??

Less bad is the new good...(repeat ad infinitum)


31 posted on 09/10/2009 11:28:55 AM PDT by greatplains
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To: NormsRevenge
The official unemployment rate stands at 9.7%.
The unofficial rate stands at 16.8%!
Things are not getting better for America.

Obama says he's saved or created 1,000,000 jobs.

Obama, you lie!

32 posted on 09/10/2009 11:29:01 AM PDT by Reagan Man ("In this present crisis, government is not the solution to our problem; government is the problem.")
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To: ProudFossil

Wall Street hates uncertainty. As it becomes clear that we are thoroughly and permanently screwed, they become less uncertain. Hence, the market rises.

Just kidding. You could say that businesses have been forced to squeeze out their excesses, and are more lean and mean now, and that the market anticipates the future so it is rewarding the efficiencies business will experience when the recovery begins. Or you could say that the big boys are pumping things up to make some cash before we go over the next cliff. Maybe neither. Maybe both.


33 posted on 09/10/2009 11:38:50 AM PDT by Darth Reardon
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To: NormsRevenge

you watch in a few weeks on a friday afternoon there will be a revised number that shows it actually went up.


34 posted on 09/10/2009 11:44:57 AM PDT by Walkingfeather
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To: VRWCRick

But I haven’t finished my countdown yet!


35 posted on 09/10/2009 11:57:09 AM PDT by Freedom_Is_Not_Free (Depression Countdown: 50... 49... 48...)
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To: ProudFossil

If you look locally, there is no new building of houses and foreclosure sales have hit their peak (atleast for the time being). House prices are slowly rising, but will never likely hit those high for sometime. Unemployeement at its current level is terrible but it shows sighs of slowing. That doesn’t mean the recovery is coming but it means the stock market is finding it’s middle ground. 6 is too low, 9...is about right.

I think everything on a tedious path....it can go south quickly or it can slowly go back to sanity. I tend to think if the white house doesn’t over reach itself, then the market with recover in due time.


36 posted on 09/10/2009 12:01:57 PM PDT by Rick_Michael (Have no fear "President Government" is here)
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To: NormsRevenge

When you “stick” a hog the blood gushes like a water hose at first and then it slows until it becomes a trickle. I suppose the slowing of blood flow must be “a sign of further healing” but I doubt you could convince the hog of that.

It is insanity to think that we are recovering simply because we have slightly fewer people being laid off in a given time period when the total number of employed is stil dropping sharply and new people are entering the workforce constantly. They never bother to state what PERCENTAGE of employed people lost their jobs during the period in question.

I have never seen so much spinning, if a Republican occupied the white house we would be hearing how bad things are even if total employment were increasing rather than dropping like a stone as it is. This recovery we keep hearing about is so hard to see because it is obscured by flying pigs, frog’s hair and hen’s teeth. Oh, I forgot to mention huge herds of Unicorns.


37 posted on 09/10/2009 12:21:09 PM PDT by RipSawyer (Change has come to America and all hope is gone.)
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To: ProudFossil
To quote my favorite discredited economist John Maynard Keynes: "The market can stay irrational far longer than you can stay solvent." IOW, the trend is not necessarily your long term friend.

Remember, after the crash of 1930, the market rallied even more strongly than this one has. Only to crash and burn and play dead for several years thereafter.

Look at it this way -- a 50% reversal, by no means out of the question, would take this market from a Dow of 6600 to a level around 10,500. That is what happened after the Great Crash, and which prompted Herbert Hoover to run on the slogan "Prosperity is Just around the corner" in 1932. Financiers of the day, like Andrew Mellon at Treasury agreed with him; just as the einsteins of today, like Little Timmy (Mommy please cut my meat for me) Geithner perceive "green shoots" in the desert.

Do not be deceived by false front goobermint and media circle jerkers. All they want is a good tradeable bump to help them get out whole before the whole f*ing issue blows sky high.

38 posted on 09/10/2009 4:36:52 PM PDT by hinckley buzzard (truth--the liberal's kryptonite.)
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To: RRTJSP...........
My guess is that the REAL unemployment figure is around 20% or more..........

The other day I had occasion to drive through Avon, one of Northeast Ohio's more affluent suburbs, a town of little boutique stores and businesses, frou-frou little "historic districts," and on the fringes, the large bigbox dominated shopping center next to the freeway exit. There were as many vacancies and empty store fronts and never opened "for lease" buildings in Avon as in the down-on-their-luck- blue collar inner 'burbs. The Obama recession has gone viral.

39 posted on 09/10/2009 4:42:57 PM PDT by hinckley buzzard (truth--the liberal's kryptonite.)
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To: VRWCRick

Good news: The recession has ended.

Bad news: The Depression has begun

Post of the year!

40 posted on 09/10/2009 4:47:38 PM PDT by hinckley buzzard (truth--the liberal's kryptonite.)
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