Posted on 08/12/2010 9:31:53 PM PDT by JohnRLott
News headlines worryingly point to "US jobless claims hit six-month high," "Wall Street Slides Further on More Signs of Slowdown," or "Latest US Jobless Claims are a Bad Omen." Quite a contrast from news headlines just a month ago touting: "New jobless claims fall to near two-year low." What could happen in just a month? Has there really been that much of a worsening in the fundamental jobs picture in that short of time?
There is actually a very simple answer for the change. While a month ago those who filed for unemployment insurance would only get 26 weeks of benefits, over the last few weeks people can get at least 95 weeks of benefits. The result is something that I predicted in a piece that I wrote for Fox News on July 20th.
When unemployment insurance extension ended, new filings fell from around 472,000 to 429,000. Now that they have been reinstated, new filings for the last two weeks have been 482,000 and 484,000. . . .
(Excerpt) Read more at foxnews.com ...
Who would have thought that giving people paychecks for 96 weeks for free, somewhat, would cause people to go back to the couch ? Anyone ? Anyone ?
duh!
File under the category of:
YOU GET MORE OF WHAT YOU PAY FOR!
These are new filings, not a boost from the old ones. Those aren’t counted again as new! Your premise is fundementally flawed here.
Who would have thought//////////Ahhhh let me count the ways.......*G*
These are first time new jobless. Is he trying to say people got jobs and then intentionally got laid off to requalify after a month to get on benefits? I don’t think so.
what I am saying is that many people could have been laid off and held off of filing because the benefits were canceled and now boom money in your bank and time to go yourself some unemployment.
what I am saying is that many people could have been laid off and held off of filing because the benefits were canceled and now boom money in your bank and time to go yourself some unemployment.
Building the Gov’t sector, destroying the private sector. Sounds like the creation of a Marxist slave state.
The benefits weren’t canceled though. Why would you wait to start a 26 week benefit? This didn’t affect anyone just starting out, only those already over 26 weeks. The basic idea here isn’t correct. Nobody could ‘put off’ doing anything because you already had to be on UI use up what you had to be affected in here.
If you”Pay”someone not to go to work(or look for work),VOILA!!!!!!!!!!!!!!!!!!
Don't you have to get laid off to get UI benefits? This part I am missing.
In any case think about how the dynamics of these job killing policies are with a democrat in charge versus a Republican. Obama and democrats can call for big gov compassion all they want, but since they own the economy now it cant help them. If a R was in charge, it would be lose-lose, and we would lose. Just like 2008,
Still hoping for that teachable moment.
ya now they are standing in front of wall street raising cain for mor benefits..makes perfect sense..Blame wall street not congress...
was it 99 weeks
+ extensions forever?
Ahhhhh life is sweet ...... for some. Not us.
You gotta get laid off. And if this # was a result of those being added again, you’d see the # be whatever it would normally be plus all those that the extension helped. It would be almost 500k, it would be 4m+.
He’s very wrong on the basic premise in multiple ways and should pull this article off Foxnews or hope nobody sees it.
Of course, 2.4% who do that still leaves the 97.6% who aren’t unemployed because of the presence of unemployment benefits.
Who would have thought that when there’s a rotten economy, even the industrious honest worker can’t find a job. Anyone?
Unemployment insurance has turned into the new government job under Obama&Co. why work when you can get a free lunch and the worker bee’s have to work that much harder and pay more taxes,democrats are 100% useles.
The government is subsidizing idleness.
I think this pretty much assures 9.5% and above unemployment for the next year or more.
Worst president of all time. No doubt.
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