Skip to comments.Jobless benefit claims skyrocket in week
Posted on 11/15/2012 10:07:07 AM PST by Arthurio
WASHINGTON, Nov. 15 (UPI) -- The U.S. Labor Department Thursday said first-time jobless benefits claims rose by 78,000 in the week ending Saturday.
Initial claims jumped out of a relatively comfortable 355,000 claims -- the third lowest week since the recession ended in June 2009 -- to 439,000 with the four-week rolling average up 11,750 to 383,750.
The weekly figure has been volatile of late -- rising by 46,000 one week in mid-October, for example, but a one-week jump of 78,000 is a clear setback. First time claims have not been this high since the week of April 30, 2011.
Read more: http://www.upi.com/Business_News/2012/11/15/Jobless-benefit-claims-skyrocket-in-week/UPI-95111352997324/#ixzz2CJdJvYYB
(Excerpt) Read more at upi.com ...
I think that's partly true. There were some lower numbers for a week or so because Sandy messed up the reporting. So I'd say maybe half of the increase belongs to the last couple of weeks, and the rest is for this week. Still a 400k week, and not good news.
For perspective that’s like laying off 2/3 of the entire population of Alaska.
Did the full article also mention that the “comfortable 355,000 per week” were all revised upward as expected!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.