Jobless Claims Jump, Wholesale Food Costs Surge

[Renae]

U.S. jobless claims jumped to their highest level since October while food and energy costs boosted producer prices, pointing lingering headwinds for an economic recovery that had been showing renewed vigor.

A surge in exports to their highest level in two years helped narrow the trade deficit, however, an encouraging sign.
Despite the more positive outlook for growth in recent weeks, the job market still appeared to be struggling.

The number of Americans filing for first-time unemployment benefits rose unexpectedly to 445,000 from 410,000 in the prior week, the Labor Department said on Thursday. It was the biggest one-week jump in about six months, confounding analyst forecasts for a small drop to 405,000.

U.S. stock index futures added to losses after the jobless claims data, while government debt prices rose.

http://www.cnbc.com/id/41055028

I've yet to see the analyst NOT be confounded when unemployment "rises"

 

[Zyroh]

in 40 minutes 1 person looked at this thread. if you put the name sarah palin in the title you'll get a hundred views. add this thread to housing prices performing worse than in the depression and you begin to get a picture of reality. we paid $350Billion last year to shut up the unemployed. now as the number of 99ers increases every week (and the bls U-3 goes down), the histeria will be growing quickly. continue to ignore it at your own peril.

 

[hazlnut]

in 40 minutes 1 person looked at this thread. if you put the name sarah palin in the title you'll get a hundred views.

That has more to do with the poster than the topic.

 

[Zyroh]

well tell your media matters buddies to write an article on how foxnews is covering up the greatest depression. then you can post it and we can talk about it.

 

[zimmer]

News Headlines

I've yet to see the analyst NOT be confounded when unemployment "rises"

I was waiting for the word "surprise" to pop in the piece. I guess they wore it out and are changing to "confound".

It's like going from Lib to moderate and then progressive. Wonder what they'll be using after confound? Unexpected? Astonished? Shocking?

.

 

[American]

That has more to do with the poster than the topic.

I guess he's your favorite poster then.

 

[Councilman]

This is going to be one hell of a bad year for prices on everything especially if you live in California where the price of gas could hit $4 a gallon by July causing another surge in all cost for all goods and services.

Along with high prices will come more jobless claims.

Unless there is a massive change in the mindset of Obama and others on the way the economy is being looked at we are screwed this year and it is going to make 1929 look good by comparison.

Sorry but it's what I see coming if things don't change very soon.

 

[ludahai]

With the combination of rising fuel prices and weather issues in some of the world's most important food growing areas, expect food prices to continue to rise through the first half of 2011. This isn't a U.S. problem, but a global one.