Initial jobless claims climb higher (454,000 claims filed in the week ended 01/22/2011 !!)

CNN Money ^ | 01/27/2011 | Annalyn Censky

[SeekAndFind]

The number of Americans filing for first-time unemployment benefits rose last week, signaling the roller coaster ride for the job market has not yet come to an end.

There were 454,000 initial jobless claims filed in the week ended Jan. 22, the Labor Department said Thursday.

That was up 51,000 from the 403,000 claims filed the week before, and much worse than the 410,000 claims economists surveyed by Briefing.com had expected.

"This is definitely a setback," said T.C. Robillard, a senior research analyst who covers several large staffing firms for Signal Hill Capital.

Jobless claims often bounce around from week to week. They dipped below the 400,000 mark four weeks ago, but then began rising again soon after.

"Broadly speaking, we're taking two steps forward and then one step back," Robillard said. "In my view, that's still progress, but it's certainly slow."

Snowstorms in the Southeast and layoffs of temporary holiday workers could be distorting the January numbers more than usual, some economists say.

Still, the general theme remains the same, Robillard said -- the economy is improving, but at a much slower pace than hoped.

[SeekAndFind]

I was kinda hoping that we would be closer to 400,000 instead of the persistent 450,000 and above mark.

Well... back to the drawing board...

[RobRoy]

If I believed we ever started climbing out of the first dip I would say we’ve gotten ample evidence this month, on several fronts, that we are now heading into the second dip. But I really think we are still in the “first dip” and it just finished its coffee break.

[raygunfan]

‘unexpected’

‘bush’s fault’

‘palin vitriol causing job losses’

‘halliburton’

[luvbach1]

But I really think we are still in the “first dip” and it just finished its coffee break.

Of course you are right. The blather about a "recovery" we have been hearing is just the regime seizing upon every positive blip as evidence of a resurgent economy.

[Cementjungle]

and much worse than the 410,000 claims economists surveyed by Briefing.com had expected

Now that Republicans have Congress, the tone from the MSM has shifted from the usual "better than expected" to "worse than expected".

[PSYCHO-FREEP]

“Unexpected”

Because of the temporary jobs at low wages that quickly change or end.

And some are flat out working these jobs just long enough to get back on UI as soon as they can. Just count the Welfare and Food Stamps programs. They tell the REAL story about this “booming recovery”.

[ronnie raygun]

Thier plan is working perfectly

[BlessingsofLiberty]

It’s called manipulating the numbers. The Govt. excels at it...

A dribble here....a dribble there.

Meanwhile, large employers are closing stores and laying people off...

[SnuffaBolshevik]

"...layoffs of temporary holiday workers could be distorting the January numbers more than usual..."

Wow! You mean we had Christmas again last year?

Who knew?

[SaxxonWoods]

“Well... back to the drawing board...”

Mr. Robinson: Ben?

The Graduate: Yes, Mr. Robinson?

Mr. Robinson: Ben, there’s one thing I want you to remember.

The Graduate: Yes?

Mr. Robinson: High speed trains.

[screaminsunshine]

It was caused by ABO...Anything but Obama.

[PTBAA]

Has anyone kept track of the pattern of unemployment revision? It seems there is almost always an upwards revision of the unemployment figures that were reported the previous week. I can understand that it is difficult to get it exactly right the first time, but if every subsequent revision is to add unemployed (as seems to be the case) then it would appear that a clear pattern of conscious deception is present. I would interpret this as an attempt to keep the “animals” calm as they are being herded to their destruction.