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Thread: Jobless claims up 12% in past 2 weeks

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    Jobless claims up 12% in past 2 weeks

    It seems jobs are not there. So much for government jobs fixing anything.


    Initial unemployment claims surge to 496,000 - Feb. 25, 2010

    The number of Americans filing for initial unemployment insurance surged to just below the 500,000 level last week, and have climbed more than 12% over the past two weeks, the government said Thursday.

    There were 496,000 initial job claims filed in the week ended Feb. 20, up 22,000 from a revised 474,000 the previous week, the Labor Department said in a weekly report. The prior week, there were 442,000 claims filed.



    A consensus estimate of economists surveyed by Briefing.com expected new claims to fall to 460,000.

    The 4-week moving average of initial claims was 473,750, up 6,000 from the previous week's revised average of 467,750.

    "This is certainly not surprising given the very adverse weather conditions for the eastern half of the country, especially in the major population areas," said Robert Dye, a senior economist at PNC Financial Services. "Weather has a huge impact, particularly with things like construction, which remains very soft."

    Excluding the weather's impact, Dye would have expected initial claims to decline at "a healthy rate" of 10,000 to 20,000 last week.

    Continuing claims: The government said 4,617,000 people filed continuing claims in the week ended Feb. 13, the most recent data available. That's up 6,000 from the preceding week's revised 4,611,000 claims.

    The 4-week moving average for ongoing claims rose by 4,250 to 4,600,750 from the previous week's revised 4,596,500.

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    Re: Jobless claims up 12% in past 2 weeks

    The jobs will probably be here in a year or two.
    If you notice something good in yourself, give credit to God, not to yourself, but be certain the evil you commit is always your own and yours to acknowledge.

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    Re: Jobless claims up 12% in past 2 weeks

    Quote Originally Posted by Morality Games View Post
    The jobs will probably be here in a year or two.
    Not likely.
    "This Administration will constantly strive to promote an ownership society in America. We want more people owning their own home. It is in our national interest that more people own their own home. After all, if you own your own home, you have a vital stake in the future of our country."" GWB

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    Re: Jobless claims up 12% in past 2 weeks

    Quote Originally Posted by Morality Games View Post
    The jobs will probably be here in a year or two.
    Why do you say that?

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    Re: Jobless claims up 12% in past 2 weeks

    I'm in shock that there were that many jobs left to lose.

    So far every claim Obama has made about job creation has turned out to be a lie and if the unemployment rate was still figures ad it was before the Reagan Administration changed the rules we'd be talking about a rate near 17 to 20%.

    The only thing keeping people from hitting the streets like in Greece is extending unemployment benefits and the continuing massive lies being swallowed by people who bought into the Obama myth that he is some kind of Messiah with powers beyond those of mortal men.

    Obama and those he has surrounded himself with have NO practical experience dealing with real world issues related to anything having to do with the economy that confront us and his ideology is not suited to fix any of the problems.

    It's a sad time in American history when people have bought into Obama's lies so much that they have blinders on and will not look at the facts that everything he has proposed is wrong and making things worse not better.

    Socialism has never worked and it won't work now.

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    Re: Jobless claims up 12% in past 2 weeks

    I've got Councilman's posts blocked but I'll bet anything it's a rant against Obama again. Am I right?

    He probably conveniently ignored this part of the article:

    "This is certainly not surprising given the very adverse weather conditions for the eastern half of the country, especially in the major population areas," said Robert Dye, a senior economist at PNC Financial Services. "Weather has a huge impact, particularly with things like construction, which remains very soft."

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    Re: Jobless claims up 12% in past 2 weeks

    Quote Originally Posted by Morality Games View Post
    The jobs will probably be here in a year or two.
    What makes you think that?

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    Re: Jobless claims up 12% in past 2 weeks

    Quote Originally Posted by EnigmaO01 View Post
    I've got Councilman's posts blocked but I'll bet anything it's a rant against Obama again. Am I right?

    He probably conveniently ignored this part of the article:

    "This is certainly not surprising given the very adverse weather conditions for the eastern half of the country, especially in the major population areas," said Robert Dye, a senior economist at PNC Financial Services. "Weather has a huge impact, particularly with things like construction, which remains very soft."
    Actually, Councilman is right on this one, although equal blame must also be given to the Bush administration.

    And yes, as much as I liked Reagan I disagreed with his changing unemployment statistics. NOTE: During the Great Depression, unemployment was at a staggering 24%.
    The ghost of Jack Kevorkian for President's Physician: 2016

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    Re: Jobless claims up 12% in past 2 weeks

    Quote Originally Posted by EnigmaO01 View Post
    I've got Councilman's posts blocked but I'll bet anything it's a rant against Obama again. Am I right?

    He probably conveniently ignored this part of the article:

    "This is certainly not surprising given the very adverse weather conditions for the eastern half of the country, especially in the major population areas," said Robert Dye, a senior economist at PNC Financial Services. "Weather has a huge impact, particularly with things like construction, which remains very soft."
    So instead of a 10 to 20 thousand decrease we have a 6 thousand increase and it is the weathers fault?

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    Re: Jobless claims up 12% in past 2 weeks

    Quote Originally Posted by ptif219 View Post
    So instead of a 10 to 20 thousand decrease we have a 6 thousand increase and it is the weathers fault?
    You bet cha. I'm surprised it's not higher. Unprecedented blizzards where they never get them and the deep south that normally basks in the sun gets Canadian weather, and you bet it cuts construction and other jobs and has a rippling effect throughout the economy. Dude it's a no brainer!

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