Jobless claims soar

CNN Money ^ | 04/08/10 | Chavon Sutton

[AngelesCrestHighway]

NEW YORK (CNNMoney.com) -- The number of Americans filing for unemployment insurance for the first time jumped last week, according to government data released Thursday. There were 460,000 initial jobless claims filed in the week ended April 3, up 18,000 from an upwardly revised 442,000 the previous week, according to the Labor Department's weekly report.

[AngelesCrestHighway]

[Bobby_Taxpayer]

More evidence the Obama Stimulus is working?

After glorifying the minuscule raise last week, now they are deftly silent. Figures!

[BP2]

And meanwhile, barely even a week ago ...

Obama: U.S. starting to "turn the corner" on jobs

Friday, April 2, 2010

(Reuters) - President Barack Obama hailed new signs of an improving U.S. labor market on Friday as proof that "we are beginning to turn the corner" but warned it would still take time to achieve sustained job growth.

Seeking to maintain momentum after lawmakers approved his cornerstone healthcare overhaul, Obama shifted focus to tackling high unemployment, a problem threatening to damage his Democratic Party's prospects in November's pivotal congressional elections.

Obama spoke after a closely watched government employment report showed that non-farm payrolls grew in March, adding 162,000 jobs, the strongest signal yet that the economic recovery is moving onto a more solid footing.

"Today is an encouraging day. We learned that the economy actually produced a substantial number of jobs instead of losing a substantial number of jobs. We are beginning to turn the corner," Obama told workers at a battery components plant in North Carolina, a key battleground state he won in the 2008 presidential election.

[duckman]

“Unexpected (as always!).”
There’s that ‘U’ word again!

[Erik Latranyi]

Of course it is people falling off!

The Senate adjourned before Easter, leaving the Jobs Bill (Stimulus 2), in limbo which included........unemployment extensions!

The MSM has been reporting this since March 25th!!!!!

[VanDeKoik]

The cover of the Economist was showing rainbows and proclaiming that "Hope" is back.



I think they better in the future try not to seem so obvious.

[SWAMPSNIPER]

Gee, I thought everything was gonna be OK now!

My daughter is still pounding the pavement filling out applications and they just cut my son in law's job back by 20 hours a month.

The government isn't laying anyone off though, so things must be really great!

[SWAMPSNIPER]

Compensation doesn’t have much to do with it, there are no jobs!

[Seaplaner]

If I had a business, I would know that healthcare confiscation, cap and confiscate, card check, and other oppressive government "programs" would make the economy less vibrant and make the business environment horrible.

My worry would be on how to keep the doors open.

Staff reductions, it would sadly seem, would be a survival necessity.

But this is all so obvious.

One suspects some intentional design in all this. The leftists are experts at one thing.

Undermining (the economy, in this case.)

.

[ETL]

People are falling from the ranks of the unemployed, but for the wrong reasons.

Only those who have exhausted the 99-week limit are no longer receiving benefits. For many this occurred last week.

[unkus]

Always expect the unexpected!

---

0bama is going to prove you right. We ain’t seen nothin’ yet.

[Cletus.D.Yokel]

Sadly, Mrs. Yokel was one of the unexpected.

[Need4Truth]

Unexpected (as always!).

When will the unexpected non-recovery in the economy be reported?

[Mind-numbed Robot]

They say earlier in the article that the reason that the contining claims number is improving is that people are dropping off the rolls due to expiration of benefits. So somebody explain to me how THAT is an improvement???

It is easy to simply compile the numbers from the states of those receiving unemployment benefits. It is harder to keep up with what happened to those who are no longer on the rolls. Under the present circumstances it is logical to conclude that they just ran out of eligibility but they still don't count them.

They do something more shady with determining inflation now. They use something called "core inflation" which excludes the cost of food and fuel. Now what is more important to people on SS who are supposed to get cost of living increases? However, that saves the politicians a lot of money to spend elsewhere and they exempt themselves from the bad effects of their policies.

[jennyjenny]

They'll spin it, of course, but the truth is there are many people who lost their job earlier in the year and didn't immediately file for unemployment benefits thinking the job search wouldn't be as dismal as it is. After months of searching and not being successful in securing employment, they've now gone through much of their savings, still have no job, and decided to go ahead and file for benefits. Quite the opposite of “getting back into the game.”

[Thermalseeker]

Compensation doesn’t have much to do with it, there are no jobs!

You know as well as I do that there are people riding this unemployment compensation for all it's worth. If you have marketable job skills there is work to be had. I lived through the Carter years and the aftermath and I always had work. Times then were much, much worse than what we have now.

[OrioleFan]

Attention K-Mart shoppers! Will the people who reported these jobless numbers come to Mr. Waxman’s office! IMMEDIATELY!!!!

[Truth is a Weapon]

The thing that amazes me is just how much turnover there is in the job market in the US. These are new jobless claims for a week. That means that almost 1,800,000 people lose their jobs in a month. Since the monthly net employment number is around 100,000 jobs lost or created, there is a huge number of jobs being created/destroyed every day. Our economy is really dynamic. The Dems are beating it hard but it just doesn’t want to give up yet.

[carjic]

I hear ya. I am still looking and have been laid off since Dec 08 from Wells Fargo.

[Mrs. Frogjerk]

I thought everything ws turning around and we were out of the woods. sarc.....