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Keyword: unexpected

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  • "Hillary For President" Fundraiser Busted For Illegal Campaign Contributions

    04/18/2014 7:04:11 AM PDT · by SeekAndFind · 7 replies
    Zero Hedge ^ | 04/18/2014 | Tyler Durden
    If you listen carefully, you can hear the stampede of politicians distancing themselves from their once best-friend - Hotel magnate Sant Singh Chatwal - as AP reports, he plead guilty Thursday to charges he secretly funneled more than $180,000 in illegal campaign contributions to three unnamed candidates and coached someone to lie about it. Without the contributions "nobody will even talk to you," Chatwal said. "That's the only way to buy them, get into the system." Welcome to the ugly truth of American politik.  The FT details that Sant Singh Chatwal, chairman of Hampshire Hotels Management, pleaded guilty on Thursday...
  • Frozen Four: Union beats Minnesota for NCAA hockey title

    04/13/2014 7:11:02 AM PDT · by TurboZamboni · 10 replies
    LA Slimes ^ | 4-13-14 | ap
    PHILADELPHIA -- Union College won its first NCAA hockey title Saturday night at the Frozen Four, scoring three times in a 1:54 span in the first period in a 7-4 victory over Minnesota on Saturday night. Mike Vecchione tied the score at 2 with 4:01 left in the first, Eli Lichtenwald gave the Dutchman the lead 57 seconds later, and Daniel Ciampini capped the spree with 2:57 to go. “I don't think anyone will call us Cinderella anymore,” said Shayne Gostisbehere, who had a goal and two assists. “These guys, my brothers, they do everything. I don't care about anything...
  • The dirty little secret behind today's employment report

    04/04/2014 9:23:57 AM PDT · by cutty · 12 replies
    Yahoo ^ | APRIL 4, 2014 | Jeff Macke
    There's a dirty little secret buried in the monthly employment data. It's a secret so dark, so exquisitely threatening to the financial media industry that those who reveal it risk being expunged from the community like magicians revealing their tricks. The National Bureau of Labor Statistics reported that 192,000 jobs were added to the economy in March. The unemployment rate stayed flat at 6.7%. The participation rate rose to 63.2%. Now the dirty secret: none of that actually matters very much. 1.The number itself is simply impossible to measure with any accuracy ... 2.The unemployment rate is irrelevant. ... 3.No...
  • Jobless claims edge unexpectedly higher

    04/03/2014 6:53:21 AM PDT · by xzins · 30 replies
    Yahoo/Reuters ^ | Apr 3, 2014, | Lucia Mutikani
    The number of Americans filing new claims for unemployment benefits rose more than expected last week, but the underlying trend continued to point to some strength in the labor market. Initial claims for state unemployment benefits increased 16,000 to a seasonally adjusted 326,000, the Labor Department said on Thursday. Economists had forecast first-time filings for jobless aid rising to 317,000 in the week ended March 29.
  • Weekly Jobless Claims Rise More than Expected by 16,000

    04/03/2014 6:46:20 AM PDT · by SeekAndFind · 26 replies
    Fox News ^ | 04/03/2014
    The number of Americans filing new claims for unemployment benefits rose more than expected last week, but the underlying trend continued to point to some strength in the labor market. Initial claims for state unemployment benefits increased 16,000 to a seasonally adjusted 326,000, the Labor Department said on Thursday. Claims for the week ended March 22 were revised to show 1,000 fewer applications received than previously reported. Economists polled by Reuters had forecast first-time applications for jobless benefits rising to 317,000 in the week ended March 29. The four-week moving average for new claims, considered a better measure of underlying...
  • Jobless claims climb unexpectedly

    02/27/2014 5:43:16 AM PST · by John W · 37 replies
    www.msnbc.com ^ | February 27, 2014 | Steve Benen
    So far in 2014, initial unemployment claims have been largely stuck, though we were supposed to see some progress this morning. According to the new figures from the Labor Department, we didn’t: The number of people who applied for U.S. unemployment benefits jumped by 14,000 to 348,000 last week to match a five-week high, the Labor Department said Thursday. Economists surveyed by MarketWatch expected claims to total 335,000 on a seasonally adjusted basis. The average of new claims over the past month, a more reliable gauge than the volatile weekly number, was unchanged at 338,250.
  • Senate Democrats: Why Didn't Someone Tell Us Obamacare Would Cut Medicare?

    02/20/2014 6:59:30 AM PST · by Cheerio · 59 replies
    NRO ^ | February 20, 2014 | Jim Geraghty
    The National Republican Senatorial Committee points out that North Carolina Sen. Kay Hagan and other vulnerable Senate Democrats are now whacking the Centers for Medicare & Medicaid… for enacting changes required by Obamacare. Hey, Senator Hagan, if you want to blame someone, blame the foolish or dishonest lawmakers who voted for the law! Wait a minute, that’s you! In 2009, Senator Kay Hagan (D-NC) promised North Carolinians who depend on Medicare that she was going to “protect Medicare” and that they would “not see a drop in their Medicare coverage.”
 But in 2010 Kay Hagan voted to slash Medicare Advantage...
  • U.S. jobless claims rise more than expected

    01/30/2014 6:35:17 AM PST · by John W · 42 replies
    Reuters ^ | January 30, 2014 | Reuters
    Jan 30 (Reuters) - The number of Americans filing new claims for unemployment benefits rose more than expected last week, but the underlying trend suggested the labor market continued to heal. Initial claims for state unemployment benefits increased 19,000 to a seasonally adjusted 348,000, the Labor Department said on Thursday. Claims for the prior week were revised to show 3,000 more applications received than previously reported. Economists polled by Reuters had forecast first-time applications for jobless benefits rising to 330,000 in the week ended Jan. 25. The four-week moving average for new claims, considered a better measure of underlying labor...
  • U.S. durable goods orders unexpectedly plunge in December

    01/28/2014 5:48:09 AM PST · by navysealdad · 34 replies
    Yahoo News ^ | Jan 28, 2014
    WASHINGTON, Jan 28 (Reuters) - Orders for long-lasting U.S. manufactured goods unexpectedly fell in December as did a gauge of planned business spending on capital goods, which could cast a shadow on an otherwise bright economic outlook. The Commerce Department said on Tuesday durable goods orders dropped 4.3 percent, pulled down by weak demand for transportation equipment, primary metals, computers and electronic products and capital goods.
  • Target will drop health insurance for its part-time employees

    01/21/2014 7:29:31 PM PST · by TurboZamboni · 44 replies
    Star Tribune ^ | 1-21-14 | JACKIE CROSBY
    Target Corp. said Tuesday that it will stop offering health insurance to its part-time employees because new online health exchanges offer workers an opportunity to buy coverage. The Minneapolis-based retailer will give each worker $500 to help buy health insurance, and has arranged for one-on-one consultations with benefits manager Towers Watson to help with the transition. The retailer announced the decision through its online site, “A Bullseye View: Behind the Scenes at Target,” in a Q&A with Jodee Kozlak, Target’s executive vice president of human resources. In the article, Kozlak acknowledged the disruption to workers. But she said the exchanges...
  • Top insurer warns that Obamacare enrollment mix worse than expected [Humana, Medicare Advantage]

    01/10/2014 11:34:48 PM PST · by Cincinatus' Wife · 99 replies
    Washington Examiner ^ | January 10, 2014 | Philip Klein
    Humana Inc., the nation's fourth-largest health insurer by market share, warned Thursday that the risk pool of applicants for insurance through President Obama's health care law would be worse than previously expected. Ever since the botched rollout of the health care law's exchanges in October, the policy community has been eager to know more about the mix of individuals signing up for insurance through the law. Because the law forces insurers to cover those with pre-existing conditions, insurers need to attract a critical mass of young and healthy individuals with lower medical costs into the exchanges to offset the cost....
  • Jobless claims rise to near nine-month high

    12/19/2013 5:54:16 AM PST · by John W · 51 replies
    Reuters ^ | December 19, 2013 | Reuters
    (Reuters) - The number of Americans filing new claims for unemployment benefits rose last week to the highest level in nearly nine months, casting a shadow on the labor market. Initial claims for state unemployment benefits increased 10,000 to a seasonally adjusted 379,000, the Labor Department said on Thursday. That was the highest level since March and marked the second straight week that claims have risen. Claims for the prior week were revised to show 1,000 more applications received than previously reported. Economists polled by Reuters had expected first-time applications to fall to 334,000 last week.
  • Breaking News: Jobless claims rise unexpectedly to 379,000

    12/19/2013 5:56:42 AM PST · by NY.SS-Bar9 · 67 replies
    Yahoo Finance ^ | 12/19/13 | Yahoo!
    Headline only
  • In first month, the vast majority of Obamacare sign-ups are in Medicaid

    11/03/2013 6:58:10 AM PST · by dennisw · 35 replies
    washingtonpost ^ | November 1 | Sarah Kliff,
    The first month of the new health law’s rollout reveals an unexpected pattern in several states: a crush of people applying for an expansion of Medicaid and a trickle of sign-ups for private insurance. This early imbalance — in some places, nine out of 10 enrollees are in Medicaid — has taken some experts by surprise. The Affordable Care Act, which expanded Medicaid to cover millions of the poorest Americans who couldn’t otherwise afford coverage, envisions a more even split with an expanded, robust private market. “When we first saw the numbers, everyone’s eyes kind of bugged out,” said Matt...
  • In first month, the vast majority of Obamacare sign-ups are in Medicaid (9 out of 10)

    11/01/2013 9:35:01 PM PDT · by 2ndDivisionVet · 48 replies
    The Washington Post ^ | November 1, 2013 | Sarah Kliff
    The first month of the new health law’s rollout reveals an unexpected pattern in several states: a crush of people applying for an expansion of Medicaid and a trickle of sign-ups for private insurance. This early imbalance — in some places, nine out of 10 enrollees are in Medicaid — has taken some experts by surprise. The Affordable Care Act, which expanded Medicaid to cover millions of the poorest Americans who couldn’t otherwise afford coverage, envisions a more even split with an expanded, robust private market. “When we first saw the numbers, everyone’s eyes kind of bugged out,” said Matt...
  • California adds jobs, but unemployment rate rises to 8.9%

    09/21/2013 7:13:05 AM PDT · by BenLurkin · 14 replies
    L,A,Times ^ | September 20, 2013, 4:59 p.m. | RIcardo Lopez
    "The labor market appears to be going sideways," said Robert Kleinhenz, chief economist at Los Angeles County Economic Development Corp. "We see a month of improvement and maybe a month of retrenchment, and that's a discouraging story to report." Earlier this year, California was outpacing the nation's rate of job creation, with payroll growth hovering around 2%. But since August 2012, the state has added 223,900 jobs for a growth rate of 1.5%. "Here we are in the middle of the year ... and the economy has shifted down to second gear," Kleinhenz said.
  • U.S. poverty rises despite economic recovery (but they got an Obamaphone)

    09/17/2013 3:27:05 PM PDT · by tobyhill · 16 replies
    chicago tribune ^ | 9/17/2013 | reuters
    The number of U.S. residents living in poverty edged up to 46.5 million last year, the latest sign that an economic recovery marked by a stock market boom has not trickled down to ordinary Americans. The figures from the Census Bureau on Tuesday highlighted the lingering scars from the 2007-2009 recession and added fresh fuel to debates over government austerity and widening income inequality. It could also renew calls to raise the minimum wage. Although the number of people in poverty went up from 46.2 million in 2011, the national poverty rate was unchanged at 15 percent, the annual report...
  • Germany's Aleo Solar is closing its Denver office

    09/13/2013 8:13:21 AM PDT · by george76 · 12 replies
    Denver Business Journal ^ | Sep 13, 2013 | L. Wayne Hicks
    Aleo Solar AG, a German solar-module manufacturer that has its U.S. headquarters in Denver, said it will withdraw from the United States immediately. ... the US operation had failed to meet recent sales targets and was not operating profitably
  • Consumer Confidence Collapses - Biggest Miss On Record

    09/13/2013 8:21:26 AM PDT · by Zakeet · 12 replies
    Zero Hedge ^ | September 13, 2013
    This is the first consecutive monthly drop in 14 months and the largest miss vs expectations on record. Printing at 76.8 (against an expectation of 82.0), this is the lowest in 5 months and points to the picture we have been painting of a consumer increasingly affected by rising rates and soaring gas prices amid stagnant incomes. As Citi notes below, this is the exact same pattern we have seen play out in the last 2 cycles and suggest significant downside risk to US equities. The economic outlook sub-index collapsed to its lowest since January. Biggest miss on the headline...
  • U.S. Consumer Sentiment Falls Much More Than Expected In September

    09/13/2013 7:35:38 AM PDT · by John W · 9 replies
    RTTNews ^ | September 13, 2013 | RTTNews
    Consumer sentiment in the U.S. has deteriorated by much more than anticipated in the month of September, according to a report released by Thomson Reuters and the University of Michigan on Friday. The report said the preliminary reading on the consumer sentiment index for September came in at 76.8, down from August's final reading of 82.1. Economists had expected the index to edge down to 82.0. With the much bigger than expected decrease, the consumer sentiment index fell to its lowest level since hitting 76.4 in April. Reuters said survey director Richard Curtin attributed the decline to "growing concerns that...
  • U.S. jobless claims fall; reading clouded by processing snafu

    09/12/2013 5:50:45 AM PDT · by Oldeconomybuyer · 29 replies
    Reuters ^ | September 12, 2013 | by Jason Lange
    The number of new U.S. jobless claims fell sharply last week but much of the decline appeared due to technical problems in claims processing, clouding the last major reading of labor market health before a Federal Reserve meeting. Initial claims for state unemployment benefits slipped 31,000 to a seasonally adjusted 292,000, the Labor Department said on Thursday. That was the lowest level of claims since 2006, confounding analysts' expectations for a mild increase. But a department analyst said the majority of the decline appeared to be because two states were upgrading their computer systems and did not process all the...
  • ABCNews.com's Facebook Page Omits Biggest News from September Unemployment Report

    09/06/2013 12:42:36 PM PDT · by Kaslin · 7 replies
    NewsBusters.org ^ | September 6, 2013 | Ken Shepherd
    Reporting on the latest unemployment reports by the U.S. government, ABCNews's Facebook page curiously left out the most newsworthy statistic: 63.2 percent. That's where the labor force participation rate stands right now. [see screen capture below the page break] It's the lowest it's been since 1978. But here's how ABCNews's social media editors teased Facebook visitors: The U.S. economy added 169,000 jobs in August -- a bit weaker than economists expected. Meanwhile, the unemployment rate fell to 7.3%: http://abcn.ws/17JQof4 The linked September 6 story, by Susanna Kim, noted that the labor force participation rate has been steadily declining on President...
  • U.S. economy finds momentum in second quarter, further gains seen

    07/31/2013 5:36:39 AM PDT · by Oldeconomybuyer · 13 replies
    Reuters ^ | July 31, 2013 | By Lucia Mutikani
    U.S. economic growth unexpectedly accelerated in the second quarter, laying a firmer foundation for the rest of the year that could bring the Federal Reserve a step closer to cutting back its monetary stimulus. Gross domestic product grew at a 1.7 percent annual rate, the Commerce Department said on Wednesday, stepping up from the first-quarter's downwardly revised 1.1 percent expansion pace.
  • Moody's Downgrades Chicago's Debt Rating

    07/19/2013 5:53:52 PM PDT · by george76 · 16 replies
    ap ^ | Jul 18, 2013
    Illinois' $97 billion pension problem isn't doing any favors for Chicago. Moody's Investors Service late Wednesday downgraded the city's debt rating from Aa3 to A3 because of the city's "very large and growing" pension liability.
  • Unemployment rates rise in 28 US states

    07/18/2013 1:13:41 PM PDT · by Olog-hai · 10 replies
    Associated Press ^ | Jul 18, 2013 4:06 PM EDT | Christopher S. Rugaber
    Unemployment rates rose in 28 U.S. states last month, partly because more Americans started looking for work and not all of them found jobs. … Nationally, the unemployment rate remained 7.6 percent in June, even though employers added 195,000 jobs. …
  • Summertime Blues: Both Initial Jobless Claims (NSA) and Continuing Claims Rise Sharply

    07/18/2013 7:18:39 AM PDT · by whitedog57 · 14 replies
    Confounded Interest ^ | 07/18/2013 | Anthony B. Sanders
    The Department of Labor reported today that: In the week ending July 13, the advance figure for seasonally adjusted initial claims was 334,000, a decrease of 24,000 from the previous week’s revised figure of 358,000. That figure was on a seasonally adjusted basis. If we look at the non seasonally (NSA) adjusted data, initial jobless claims (purple) rose 25,350 from 383,360 to 408,710. ijccc071813 Continuing claims rose 333,800. cjc071813 Consumer confidence? It fell from -27.3 to -28.4. Notice that it has not been above 0 since the recession of 2001. bcc071813 Summertime blues indeed.
  • Farewell "Housing Recovery" - Housing Starts Miss Most Since January 2007..

    07/17/2013 6:33:54 AM PDT · by Perdogg · 4 replies
    Zero hedge ^ | Submitted by Tyler Durden on 07/17/2013 09:16 -0400
    Farewell "Housing Recovery" - Housing Starts Miss Most Since January 2007, Permits Have Biggest Miss In History In all the noise surrounding Bernanke's rehash of statements made countless times before, today's only relevant data point - June housing starts and permits - was largely ignored. And one can see why: printing at 836K, the starts number was the lowest since August 2012, the second largest sequential drop (down from 928K in May) since 2011 and the biggest miss to expectations of 957K since January 2007!
  • Weekly First-Time Claims For Unemployment Benefits Spiked Last Week to 360,000, Higher Than Expected

    07/11/2013 7:42:02 AM PDT · by SeekAndFind · 16 replies
    International Business Times ^ | 07/11/2013 | Malik Singleton
    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...
  • Only 47% of Adults Have Full-Time Job

    07/05/2013 9:55:19 PM PDT · by george76 · 37 replies
    Breitbart ^ | 5 Jul 2013 | Mike Flynn
    only 47% of Americans have a full-time job and those who don't are finding it increasingly out of reach. Of the 144 million Americans employed last month, only 116 million were working full-time. Friday's report showed that 58.7% of the civilian adult population of 245 million was working last month. Only 47% of Americans, however, had a full-time job. ... In June, the number of Americans who wanted to work full-time, but were forced into part-time jobs because of the economy, jumped 352,000 to over eight million.
  • Initial Jobless Claims Rise To 354,000

    06/20/2013 8:22:36 AM PDT · by SeekAndFind · 14 replies
    Business Insider ^ | 06/20/2013 | Rob Wile
    Initial jobless claims hit 354,000. Consensus was for 340,000, according to Bloomberg. Last week had declined to 334,000. The 4-week moving average was 348,250, an increase of 2,500 from the previous week's revised average of 345,750. Mohamed El-Erian wrote in this space yesterday that for the foreseeable future, prints like this will be watched with greater scrutiny to see if the Fed's sunny economic projections are correct.
  • U.S. jobless claims rise above expectations last week

    06/20/2013 5:35:09 AM PDT · by Oldeconomybuyer · 10 replies
    Reuters ^ | June 20, 2013
    (Reuters) - The number of Americans filing new claims for unemployment benefits rose more than expected last week, but not enough to signal a material shift from the recent pace of moderate job growth. Initial claims for state unemployment benefits increased 18,000 to a seasonally adjusted 354,000, the Labor Department said on Thursday. Claims for the prior week were revised to show 2,000 more applications received than previously reported.
  • Employers Dropping Spousal Coverage to Avoid ObamaCare Fees

    06/17/2013 3:02:53 PM PDT · by grundle · 11 replies
    thenewamerican.com ^ | February 26, 2013 | Michael Tennant
    With healthcare costs continually on the rise — a situation compounded by ObamaCare’s new taxes and regulations — employers are looking for every means possible to keep those costs down. The healthcare law requires them to offer coverage to all full-time employees and their dependent children aged 25 and younger. The one person whose coverage it does not mandate, however, is the employee’s spouse; spousal coverage, therefore, is increasingly on employers’ chopping blocks. According to MarketWatch, since the passage of ObamaCare, companies have instituted various measures designed to discourage, if not outright exclude, individuals from obtaining health coverage via their...
  • U.S. Payroll to Population and Unemployment Worsen in May

    06/06/2013 8:54:44 AM PDT · by george76 · 2 replies
    Gallup ^ | June 6, 2013 | Jenny Marlar
    The U.S. Payroll to Population employment rate (P2P), as measured by Gallup, worsened in May, dropping to 43.9%, from 44.5% in April. P2P is also down from May 2012, when it was 44.4%. ... Gallup's P2P metric is an estimate of the percentage of the U.S. adult population aged 18 and older who are employed full time by an employer for at least 30 hours per week. P2P is not seasonally adjusted.
  • Weekly Jobless Claims Fall More Than Expected

    06/06/2013 6:44:43 AM PDT · by mykroar · 13 replies
    FoxBusiness.com ^ | June 06, 2013 | Reuters
    <p>The number of Americans filing new claims for unemployment benefits fell last week, pointing to moderate job growth despite slowing economic activity.</p> <p>Initial claims for state unemployment benefits declined 11,000 to a seasonally adjusted 346,000, the Labor Department said on Thursday. Claims for the prior week were revised to show 3,000 more applications received than previously reported.</p>
  • Traders Confused: Is the Jobs Market Improving or Not?

    06/05/2013 7:11:37 PM PDT · by SeekAndFind · 47 replies
    CNBC ^ | 06/05/2013 | Bob Pisani
    Traders confused: is the job market improving, or not? Markets were volatile again today, this time on signs that the jobs market may not be as strong as some hoped. A report on private sector employment by ADP was weaker than expected, as was an employment gauge released as part of a survey of purchasing managers in the services industry. That is causing some to consider lowering their estimates for Friday's critical May jobs report. This is confusing, because Fed officials have been talking about tapering their purchases of bonds as the job market improves. So which is it? To...
  • No 'Great Recovery' in U.S.; ADP jobs number below expectations

    06/05/2013 1:22:34 PM PDT · by SeekAndFind · 8 replies
    An economic forecast says the country’s expected “Great Recovery” hasn’t materialized and the economy’s fallen short of even normal growth. The Los Angeles Times reports the gloomy picture appears in the quarterly UCLA Anderson Forecast released Wednesday. It says that real gross domestic product growth – the inflation-adjusted value of goods and services produced – is well below the 3percent growth trend of past recoveries. The forecast says the country isn’t creating enough good jobs. However, the forecast also says a housing market recovery should boost the GDP over the next two years and bring down unemployment, falling to 6.9...
  • MISS: US COMPANIES ADD ONLY 135,000 JOBS

    06/05/2013 6:01:33 AM PDT · by blam · 11 replies
    Business Insider ^ | 6-5-2013 | Sam Ro
    MISS: US COMPANIES ADD ONLY 135,000 JOBS Sam Ro June 5, 2013The ADP jobs report is out, and it's a miss. US companies added only 135,000 jobs in May, which was well below the 165,000 expected by economists. The April measure was also revised down to +113,000 from a prior reading of +119,000. "Notably, a gain of 5,000 jobs in the construction industry during May was offset by a decline of 6,000 lost jobs in the manufacturing industry," said ADP's Carlos Rodriguez. Here's a break down by company size: * Small (1-49 employees): +58,000 * Medium (50-499 employees): +39,000 *...
  • Report: US hasn't seen expected 'Great Recovery'

    06/05/2013 7:27:52 AM PDT · by Hojczyk · 17 replies
    Sun Herald ^ | June 5, 2013
    The Los Angeles Times ( http://lat.ms/13ESjj3) reports the gloomy picture appears in the quarterly UCLA Anderson Forecast released Wednesday. It says that real gross domestic product growth - the inflation-adjusted value of goods and services produced - is well below the 3-percent growth trend of past recoveries. The forecast says the country isn't creating enough good jobs. However, the forecast also says a housing market recovery should boost the GDP over the next two years and bring down unemployment, falling to 6.9 percent next year. California, meanwhile, outperformed the nation in job growth during a 12-month period that ended in...
  • Jobless claims unexpectedly rise, but still within 2013 range

    05/30/2013 8:41:38 AM PDT · by traumer · 18 replies
    WASHINGTON (Reuters) - The number of Americans filing new claims for unemployment benefits unexpectedly rose last week, but not enough to suggest a shift in the recent pattern of modest job gains. Initial claims for state unemployment benefits increased 10,000 to a seasonally adjusted 354,000, the Labor Department said on Thursday. Claims for the prior week were revised to show 4,000 more applications received than previously reported. Economists polled by Reuters had expected first-time applications to hold steady at 340,000 last week. A Labor Department analyst said claims for five states, including Virginia, Minnesota and Oregon, were estimated since state...
  • Family Medical Costs Still Rising (Obamacare destroys American Healthcare)

    05/22/2013 11:53:05 AM PDT · by tobyhill · 4 replies
    ny times ^ | 5/22/2013 | By REED ABELSON
    The good news is health care costs are going up more slowly. The bad news is that families continue to see larger medical bills. The typical cost to cover a family of four now exceeds $22,000, including the amount paid in insurance premiums and out-of-pocket costs, according to the latest Milliman Medical Index for 2013. Milliman, an actuarial and benefits consultant, puts the cost at slightly less than the amount a family might pay to send a child to an in-state public college for a year. This year’s increase over last was only 6.3 percent, according to the analysis from...
  • Tragic Trifecta: Initial Claims Soar, Housing Starts Plunge, CPI Below Expectations

    05/16/2013 5:49:23 AM PDT · by Perdogg · 17 replies
    We didn't really need a confirmation that the economy was deteriorating and completely disconnected from the "market", but we got it nonetheless. First, Initial Claims coming at 360K, on expectations of 330K, the worst print and worst miss in six weeks, confirming that weekly data is largely noise and that there is no sustainable downward trend. The May 11 weekly print adjusted and unadjusted were 360K and 318K respectively, virtually unchanged from a year ago at 373K and 325K, showing that in one year there has been essentially no progress, and that weekly initial claims of 350K is the new...
  • Many part-timers to lose pay amid health act's new math

    05/12/2013 8:45:00 AM PDT · by TurboZamboni · 64 replies
    la times/pioneer press ^ | 5-12-13 | chad tehune
    Many part-timers are facing a double whammy from President Barack Obama's Affordable Care Act. The law requires large employers offering health insurance to include part-time employees working 30 hours a week or more. But rather than provide health care to more workers, a growing number of employers are cutting back employee hours instead. The result: Not only will these workers earn less money, but they'll also miss out on health insurance at work. Consider the city of Long Beach, Calif. It is limiting most of its 1,600 part-time employees to fewer than 27 hours a week, on average. City officials...
  • Stocks Slip on Muddy Outlook for U.S. Economy

    05/01/2013 9:30:54 AM PDT · by John W · 14 replies
    The Street ^ | May 1, 2013 | Andrea Tse
    NEW YORK (TheStreet) -- The S&P 500 fell after a spate of negative surprises in economic reports was balanced against expectations that the Federal Reserve will not be winding down its asset purchases in the near future. The latest employment numbers pointed to a slowdown in the economy with payroll processor ADP reporting that the private sector added 119,000 jobs in April vs. a downwardly-revised 131,000 in March. The number was below the consensus estimate of 150,000, according to Thomson Reuters. Similarly, the ISM Manufacturing Index dipped to 50.7 in April from 51.3 in March, falling further than the 50.9...
  • Durable-goods orders sink 5.7% in March

    04/24/2013 6:04:35 AM PDT · by John W · 14 replies
    marketwatch.com ^ | Appril 24, 2013 | Jeffry Bartash
    WASHINGTON (MarketWatch) — Orders for big-ticket U.S. items posted the biggest drop in March since last summer, mainly because of fewer jetliner bookings but also as orders softened in most categories. Orders for durable goods fell 5.7% last month to mark the biggest drop since last August, the Commerce Department said Wednesday in data suggesting the manufacturing sector cooled off a bit toward the end of the first quarter. Economists surveyed by MarketWatch had expected a 3.2% decline.
  • US: Existing Home Sales fall unexpectedly by -0.6% to 4.92M in March

    04/22/2013 8:29:02 AM PDT · by xzins · 26 replies
    Nasdaq ^ | 22 Apr 13 | FXStreet.com
    FXstreet.com (Barcelona) - Instead of improving to 5.01M in March, US existing home sales fell from 4.95M to 4.92M,
  • Headache: Chicago Fed Activity Index Declines, Existing Home Sales Decline

    04/22/2013 7:10:48 AM PDT · by whitedog57 · 3 replies
    Confounded Interest ^ | 04/22/2013 | Anthony B. Sanders
    Existing home sales were just announced and they were down -0.6% in March after printing at +0.8% in February (but revised downwards to +0.2%). Analysts were expecting +0.4%. A swing and a miss. Median home prices for existing home sales rose 6.4% from February to March. The Chicago Fed National Activity Index plunged in March to -0.23 from a reading in February of 0.44. Analysts were expecting a print of 0.29. Now, THAT is a big swing and a miss! And the Chicago Fed index and leading economic indicators are trending downwards. But Fox’s Eric Bolling says that real GDP...
  • Down the Drain - How the federal government flushed away the $833 billion stimulus

    04/15/2013 4:23:31 PM PDT · by neverdem · 26 replies
    Reason ^ | May 2013 | Peter Suderman
    If you want to see where a little bit of your $833 billion stimulus went, head south from St. Louis on Interstate 44 until you reach the Mark Twain National Forest. On March 13, 2009, less than a month after President Barack Obama signed the American Recovery and Reinvestment Act (ARRA) into law, the federal government awarded $462,912.30 to a Spokane, Washington, construction firm called CXT Incorporated to build and install 22 “precast concrete toilets” in the park. These bunker-style commodes did not add to the number of bathrooms in the forest; they replaced existing toilets that didn’t meet Forest Service...
  • OVERNIGHT HEALTH: Cost of exchanges doubles (HHS begging congress for more money)

    04/11/2013 1:56:06 PM PDT · by tobyhill · 20 replies
    the hill ^ | 4/10/2013 | By Sam Baker and Elise Viebeck
    Setting up insurance exchanges — the centerpiece of President Obama's healthcare reform law — is costing the Health and Human Services Department a whole lot more than it originally expected. According to budget documents released Wednesday, the department expects to spend $4.4 billion on exchange grants to the states by the end of this year — double its estimates a year ago. The HHS is also asking Congress for another $1.5 billion to set up a federal exchange in 26 states. The department has cobbled together money from other programs to get started, but officials said they need another $800...
  • From the Cheap Seats: Snowstorm Buries Global Warming Presser

    04/09/2013 2:25:24 PM PDT · by george76 · 12 replies
    Colorado Observer. ^ | April 9, 2013
    Environment Colorado, also known as the Colorado chapter of the National Association of the Irony Challenged, is to release a report this week about how global warming – keep that word “warming” in mind – is endangering Colorado. ... The junior geniuses at Environment Colorado had planned to unveil their map about global warming at a really big press conference – but something unexpected occurred. The press conference was canceled and the map is to be unveiled via a telephone conference because of, wait for it … oh yes, you did indeed see this coming: No press conference because of...
  • U.S. Manufacturing Activity Expands At Much Slower Rate In March

    04/02/2013 1:34:41 PM PDT · by robowombat · 5 replies
    RTT News ^ | 4/1/2013 10:27 AM ET
    Activity in the U.S. manufacturing sector expanded at a much slower than expected rate in the month of March, according to a report released by the Institute for Supply Management on Monday. The ISM said its purchasing managers index fell to 51.3 in March from 54.2 in February, although a reading above 50 indicates continued growth in the manufacturing sector. While the index pointed to the fourth consecutive month of growth in the manufacturing sector, economists had expected a much more modest decrease to a reading of 54.0. Jennifer Lee, senior economist at BMO Capital, said, "This could be the...