Skip to comments.Weekly First-Time Claims For Unemployment Benefits Spiked Last Week to 360,000, Higher Than Expected
Posted on 07/11/2013 7:42:02 AM PDT by SeekAndFind
The number of Americans applying for first-time unemployment benefits rose sharply last week to 360,000, an increase of 16,000 and much higher than the number analysts were expecting, the U.S. Labor Department said Thursday.
Analysts polled by Thomson Reuters I/B/E/S expected, on average, claims for the seven days between June 30 and July 6 to fall to 340,000 below the previous week's revised figure of 344,000. By comparison, there were 363,000 first-time claims filed during the comparable week last year (seasonally adjusted).
Although claims spiked, Labor Department officials and economists caution that one should not read too much into any one week in July - a historically volatile month, due to auto plant re-tooling shutdowns, and temporary end-of-school year lay-offs.
For the seven days ended July 6 the four-week moving average, considered a more reliable measure of labor market trends, rose to 351,750, an increase of 6,000 from the previous week's revised average of 345,750.
"The total number of people claiming benefits in all programs for the week ending June 22 was 4,505,508, a decrease of 52,257 from the previous week," the Labor Department said in a statement. "There were 5,874,101 persons claiming benefits in all programs in the comparable week in 2012."
And oh yeah, the word -- "unexpectedly" is implied in the title.
This government is a total joke.
“It’s fun with jobless numbers Thursday once again.”
Their rear ends must be getting sore from pulling figures out of them.
Well, I’m guessing none of them should have been shocked that my 90 year old father filed for unemployment last week for the first time in his life! lol
And they stay on forever.
I’m still paying $100 per week to a guy who hasn’t worked a day since 2011. Unfortunately, his pay check for those 2011 hours was received in 2012 (January). He was laid off because of excessive absence, slovenly hygiene, and coming to work drunk. But Unemployment granted him benefits, and I am still paying.
He spent much of last year in the hospital in detox.
They have some rule in this state that if they are approved for benefits in any calendar year, they get to collect for the whole year, whether they are available for work, or not. The employer seems to have no say.
But! But! But!
Think of how much more time they will have to spend with their families.
The family that begs on the corner together stays together.
RE: Well, Im guessing none of them should have been shocked that my 90 year old father filed for unemployment last week for the first time in his life! lol
1) What was he employed as?
2) Did he get his social security while working? If so, did he get FULL social security or is it deducted based on the salary he earns?
RE: The family that begs on the corner together stays together.
That no longer applies with unemployment benefits, disability, food stamps and other welfare galore.
to borrow from Algore: "Everything that should be up, is DOWN! Everything that should be down, is UP!"
Make that motherf___r pick up trash around your business for 10 buck an hour for 10 hours a week. Work him just enough to not get his UE. Of course its probably worth the money to keep him away.
“Think of how much more time they will have to spend with their families.”
I remember when this all started how they joked about “funemployment” where laid-off yuppie-types would live off their saving and vacation until they got new high-paying gigs.
I wonder how much fun they’re having now.
Summer Of Recovery V5.0!
He was driving a limo for CEO’s primarily. Worked full time getting up at 3am and working till 1pm or so.
He was drawing SS while working and no, it was not full SS benefits.
I too am impressed with him, he is an inspiration to me every day!
Now that he stopped working, it’s been about a month, he fears he made a mistake! Not sure what to do with himself :(
Even better. The Fed knew about it ahead of time.
I only drink once a week. And Thursday is the day.