Skip to comments.Jobless claims unexpectedly rise last week (up to 380,000)
Posted on 04/12/2012 5:51:00 AM PDT by sunmars
WASHINGTON (Reuters) - New claims for unemployment benefits rose last week to their highest level since January, a development that could raise fears the labor market recovery was stalling after job creation slowed in March.
Initial claims for state unemployment benefits increased 13,000 to a seasonally adjusted 380,000, the Labor Department said on Thursday. The prior week's figure was revised up to 367,000 from the previously reported 357,000.
Economists polled by Reuters had forecast claims falling to 355,000 last week.
The four-week moving average for new claims, considered a better measure of labor market trends, rose 4,250 to 368,500.
The claims data comes in the wake of Friday's disappointing employment report for March, which showed the economy created 120,000 new jobs, the smallest amount since October.
(Excerpt) Read more at baltimoresun.com ...
Staying drunk would be the only option if Zero manages to slime and cheat his way back into another term. Only problem is....we won’t be able to afford food, much less alcohol.
unexpectedly - MY A..
I stopped hiring once Pelosi started talking as Speaker, started cutting way back a year later as I saw her spending, and eliminated my last employee just after the 2008 election because the former junior US Senator Obama was passed on to our White House. I will not under any circumstance hire until January 21, 2013. If Romney is the nominee, then I will not hire until January 21, 2017. I am not supporting the economy beyond the minimum I need for my personal comfort until we have a decent conservative in the White House. Why not? Who is John Galt?
Note: I helped those employees I had to let go (with the exception of two who were not terrible productive) set up in business as my "competitors", and they are doing fairly well but without the stability that came with my company.
Just like here in Absurdistan where the legislature didn't pass all the new taxes in time - we have a $500 million cut to make, a "doomsday budget"! Never mind that even that "cut" will leave the budget at $1 billion more than last year!
As bad as things are I am still not quite ready to commit suicide by alcohol! That could be a painful death.
Thank God I got off the sauce BEFORE Obama was elected!
The unexpected will continue as long as there is a shortage of qualified expectors.
“Additionally, higher gas prices have again siphoned off discretionary cash, so that has also softened any demand for other items.”
Even worse for Obama (and the average American), GROCERY PRICES are siphoning off discretionary cash. Obama underestimates the angst of people that pay their own bills; he is finished.
“All the breathless network announcers gushing over the wonderful job numbers. Within two weeks we have the “unexpected” revised job numbers.”
The real unemployement numbers are so high it cannot be concealed by those that control the media; too many people can see it with their own eyes, with friends, family, etc.
If the election were held today Obama would be soundly defeated; “polls” cannot hide the frustration of the American voters with the affirmative action clown who won’t even admit there is anything wrong
FDR kept a lousy economy and kept getting reelected. Obama’s loss is not a lock.
I believe the media was in the tank then, just as today, for the liberals. They wield enormous power, and with Fox News promoting their brand of progressivism, but still progressivism, their Romney campaign will be drowned by Hollywood, entertainment, big news, and sports.
Romney will lose because he has nothing to differentiate himself from Obama. Their records are basically the same. Any angle he tries Obama can say “He did the same.”
“Romney will lose because he has nothing to differentiate himself from Obama.”
Obama is a known failure; Romney’s performance as president is anybody’s guess. I would have preferred other candidates, but certainly can’t stomach the idea of 4 more years of Obama.
wont matter if he can’t win
I was a teetotaler until the unexpected rule. Now my liver is shot.
Pass the Victory Gin, comrade Smith. And down with Eastasia!
And let’s not overlook the revised figures for the previous week.
It’s disgusting and farcical how they fabricate a number (350,000) that is “unexpectedly” lower. That pumps the markets. The next week, the revise that number (360,000) and the new number (349,000) they then count as 11K under the previous (which they understate as having been revised). So if you took the original numbers, there would only be a 1K drop week-over-week, but they get the 11K number for yet another pump.
They continue this ad absurdum for a minimum of a 50 point rise in the DJIA.
Then, they get an “unexpectedly” high number like this week. Is there similarly a 50-point sell-off? Nope. They get a triple digit rise in the DJIA.
If you are in this market and think you are making money and all that profit is in the numbers, you really ought to consider cashing out a chunk of those profits. This market is rigged and only TPTB know when it will crash.
Which means claims increased 23,000, not the 13,000 apples to oranges comparison they used. "Seasonably adjusted" means it's all fake. I hate the leftist media. If Republican-lite Mittens wins the script gets reversed.
|Date||New Claims Advance Figure||Prior Week Revised Figure||Reported Decrease (Increase)||Incr. in Advance Figure||Actual Decrease (Increase)|
The link to the website of the archives of the Press Releases is here. I know my html skills aren't great, but at least you get the idea.
In EVERY case they have adjusted the number of filings up. When I first started looking into this I thought that since the adjustment was typically around 1%, it would probably not be deemed "material". But take a look at how it affects the direction of the new claims reported. Since Jan 12th, they have reported an increase in filings only FOUR times. In reality, they have had an increase in filings in Eight of the Fourteen reports I have cited. In addition, their revisions in the past three reports are significantly in excess of prior revisions. Do I smell fear among the ranks?
As long as a Democrat is in office.