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Weekly Jobless Claims Show Unexpected Increase
dailymarkets ^

Posted on 08/05/2010 1:43:56 PM PDT by traumer

- In a report that is likely to lead to renewed concerns about the job market, the Labor Department said Thursday that first-time claims for unemployment benefits unexpectedly showed a moderate increase in the week ended July 31st.

The report showed that initial jobless claims rose to 479,000 from the previous week’s revised figured of 460,000. The increase came as a surprise to economists, who had expected jobless claims to edge down to 455,000 from the 457,000 originally reported for the previous week.

With the unexpected increase, weekly jobless claims rose to their highest level since coming in at 480,000 in the week ended April 10th.

The Labor Department also said that the less volatile four-week moving average rose to 458,500 from the previous week’s revised average of 453,250.

On the other hand, continuing claims, a reading on the number of people receiving ongoing unemployment help, fell to 4.537 million in the week ended July 24th from the preceding week’s revised level of 4.571 million.

Reflecting the extension of unemployment benefits by Congress, the report also showed that extended benefits increased by a net 258 thousand in the week ended July 17th after showing notable decreases in previous weeks.

While weekly jobless claims rose to their highest level in over three months, Peter Boockvar, equity strategist at Miller Tabak, noted that jobless claims in July have been impacted by auto plant shutdowns or the lack thereof with respect to GM.

“Notwithstanding the seasonal noise in July, the level of claims remains stubbornly high and still point to a sluggish labor market,” Boockvar said.

He added, “While tomorrow we will hopefully see an expected 90,000 added to the private sector roles, the pace remains below what is needed to absorb the monthly additions to the labor force.”

(Excerpt) Read more at dailymarkets.com ...


TOPICS: Business/Economy; News/Current Events
KEYWORDS: unexpected; unexpectedly

1 posted on 08/05/2010 1:43:58 PM PDT by traumer
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To: traumer

Unexpected!

Unexpected!

Unexpected!


2 posted on 08/05/2010 1:45:03 PM PDT by PetroniusMaximus
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To: traumer

There’s that word again.


3 posted on 08/05/2010 1:45:16 PM PDT by Daralundy
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To: traumer

LOL..”Unexpected”


4 posted on 08/05/2010 1:45:27 PM PDT by evad (SHUT IT DOWN!!!)
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To: Daralundy

Damm - was hoping to be IBTU!


5 posted on 08/05/2010 1:46:41 PM PDT by Free_at_last_-2001 (A country can survive its fools, but it cannot survive treason from within.)
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To: traumer

I wish we could go back to unexpected positive economic news, like it was 2 years ago.


6 posted on 08/05/2010 1:46:50 PM PDT by chuck_the_tv_out ( <<< click my name: now featuring Freeper classifieds)
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To: evad

Getting to be as useless and meaningless as the word “racist”.


7 posted on 08/05/2010 1:47:00 PM PDT by ScoopAmma (We are led by the Resident -in Chief; aka part-time member of Webelo Troop 44)
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To: traumer

Tsk, tsk....”unexpected”...again and again.

What geniuses economists are. They still haven’t figured out that conservatives are boycotting BO’s fake “recovery.” Nothing will change until we change the Marxists running the show now in D.C.


8 posted on 08/05/2010 1:47:03 PM PDT by kittymyrib
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To: traumer

“Unexpected”

You keep using that word. I do not think it means what you think it means.


9 posted on 08/05/2010 1:47:31 PM PDT by Domandred (Fdisk, format, and reinstall the entire .gov system.)
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To: traumer

UNEXPECTED is the most over-used liberal word of this decade. I’m sick of it. What a bunch of b.s.


10 posted on 08/05/2010 1:47:40 PM PDT by Wisconsinlady
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To: traumer

UNEXPECTED is the most over-used liberal word of this decade. I’m sick of it. What a bunch of b.s.


11 posted on 08/05/2010 1:47:48 PM PDT by Wisconsinlady
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To: traumer

UNEXPECTED is the most over-used liberal word of this decade. I’m sick of it. What a bunch of b.s.


12 posted on 08/05/2010 1:47:48 PM PDT by Wisconsinlady
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To: traumer

“Unexpected”
Well WE expected it! Are they stupid or trying to boost the 0bama agenda?


13 posted on 08/05/2010 1:47:48 PM PDT by Leftism is Mentally Deranged (I will not be silenced.)
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To: traumer

UNEXPECTED is the most over-used liberal word of this decade. I’m sick of it. What a bunch of b.s.


14 posted on 08/05/2010 1:47:53 PM PDT by Wisconsinlady
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To: traumer

UNEXPECTED is the most over-used liberal word of this decade. I’m sick of it. What a bunch of b.s.


15 posted on 08/05/2010 1:47:56 PM PDT by Wisconsinlady
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To: traumer

Mrs Yokel is no longer a statistic. Thanks and praise to God.


16 posted on 08/05/2010 1:47:56 PM PDT by Cletus.D.Yokel (FreepMail me if you want on the Bourbon Ping List.)
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To: Wisconsinlady

Decaf after lunch helps me...


17 posted on 08/05/2010 1:49:14 PM PDT by Cletus.D.Yokel (FreepMail me if you want on the Bourbon Ping List.)
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To: traumer
The drinking game, with the trigger word being ‘unexpected’, has been canceled by order of the Surgeon General. Had to do with something about cirrhosis.
18 posted on 08/05/2010 1:50:11 PM PDT by JPG (Reincarnation is a myth. This Is It.)
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To: Domandred

19 posted on 08/05/2010 1:50:39 PM PDT by MrB (The difference between a (de)humanist and a Satanist is that the latter knows who he's working for.)
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To: Cletus.D.Yokel

LOL. I know! I’m sorry. I have no idea why it posted that many times.


20 posted on 08/05/2010 1:51:01 PM PDT by Wisconsinlady
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To: Wisconsinlady

Obviously bears repeating, but,

I thought some form of the word “racist” was the most overused liberal word of the decade...


21 posted on 08/05/2010 1:51:52 PM PDT by MrB (The difference between a (de)humanist and a Satanist is that the latter knows who he's working for.)
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To: traumer
Don't worry! Calm down!...It's ALL unexpected!
22 posted on 08/05/2010 1:52:19 PM PDT by AngelesCrestHighway
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To: Wisconsinlady
I have no idea why it posted that many times.

Drink. It was totally UNEXPECTED!

23 posted on 08/05/2010 1:55:02 PM PDT by Arrowhead1952 (Remember in November. Clean the house on Nov. 2. / Progressive is a PC word for liberal democrat.)
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To: traumer

24 posted on 08/05/2010 2:16:22 PM PDT by PA Engineer (Liberate America from the occupation media. There are Wars and Rumors of War.)
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To: PetroniusMaximus

“Stubbornly Unexpected!”


25 posted on 08/05/2010 2:28:34 PM PDT by traderrob6
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To: traumer

unexpected bump!


26 posted on 08/05/2010 2:30:22 PM PDT by Lorianne (During times of universal deceit, telling the truth becomes a revolutionary act. ___ George Orwell)
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To: traumer

“If they expect us to expect the unexpected, doesn’t the unexpected become the expected?”


27 posted on 08/05/2010 2:34:25 PM PDT by COUNTrecount (Barry...above his poi grade.)
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To: traumer; Red Badger
It's another Unexpected Thursday...(courtesy of Red Badger)
28 posted on 08/05/2010 2:36:42 PM PDT by dfwgator
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To: PetroniusMaximus

Well, I guess everyone hasn’t gotten the word that the definition of “unexpected” is now meant to be “horseshit”.


29 posted on 08/05/2010 2:45:01 PM PDT by Gaffer ("Profiling: The only profile I need is a chalk outline around their dead ass!")
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To: traumer
while (1) {
   printf("Unexpected!\n");
   sleep(SECONDSPERYEAR / 12);
;

30 posted on 08/05/2010 2:49:51 PM PDT by SteveH (First they ignore you. Then they laugh at you. Then they fight you. Then you win.)
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To: traumer

31 posted on 08/05/2010 3:02:16 PM PDT by lowbridge (Rep. Dingell: "Its taken a long time.....to control the people.")
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To: traumer

Unexpected = MSM propaganda fail.

Regardless of who or what put us here, proof is that the DNC can’t fix it.


32 posted on 08/05/2010 3:06:00 PM PDT by NoLibZone (If we could remove bad representatives through voting, voting would have been made illegal by now.)
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To: traumer
first-time claims for unemployment benefits unexpectedly showed a moderate increase in the week ended July 31st.

We need a poll to FReep:

Which is the most overused word, racist or unexpectedly?

IMHO, it's about even.

33 posted on 08/05/2010 3:23:09 PM PDT by upchuck (Our margin of victory this November MUST ALWAYS BE greater than their margin of fraud.)
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To: Domandred

lol! I immediately thought the same thing!!


34 posted on 08/05/2010 3:41:53 PM PDT by greatplains
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To: PetroniusMaximus

They expect nothing but acclaim.


35 posted on 08/05/2010 4:14:40 PM PDT by tbw2 (Freeper sci-fi - "Sirat: Through the Fires of Hell" - on amazon.com)
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To: AngelesCrestHighway

Who is that?


36 posted on 08/05/2010 4:15:48 PM PDT by tbw2 (Freeper sci-fi - "Sirat: Through the Fires of Hell" - on amazon.com)
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