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Jobless claims up 12% in past 2 weeks

ptif219

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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.
 
The jobs will probably be here in a year or two.
 
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.
 
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."
 
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%.
 
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?
MG_119.gif
 
So instead of a 10 to 20 thousand decrease we have a 6 thousand increase and it is the weathers fault?
MG_119.gif

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!
 
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!

There are no jobs. Housing starts hit a new low.

This is no surprise just more of the same. Trying to play down the economy and the fact no one is hiring does not change the truth.
 
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."

Yes because putting people on ignore is really brilliant on a debate forum...:roll:
 
Yes because putting people on ignore is really brilliant on a debate forum...:roll:

Only if you don't like their stance on the issues, but can't refute them..... then it makes perfect sense.

Just as much sense as, say, Hey look…. It’s snowing….. Time to lay off the whole crew and go out of business. No brainer fur sure. :roll:
 
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.
Those folks didn't hear about the 2 millions jobs available in the past few months. No worries, 2/3 of the stimulus is left so they'll all get jobs soon.
 
1. Another revision DOWNWARDS.

2. This is getting to be ROUTINE.

3. The economic news every month is described as "unexpected."

4. Monthly stats are routinely "disappointing."

5. They're consistently reversing previous trajectories of some small improvement.

6. Which is why they're always so forebiddingly foreboding as far as forecasting our future.

7. We're talking here homes---SALES, VALUES and, most frighteningly, FORECLOSURES.

8. We're talking consumer spending, here.

9. Consumer confidence.

10. Virtually EVERY indicator.

11. And, of course, most jolting---JOBS.

12. TWELVE PERCENT in TWO WEEKS is wretchedly worrisome.

13. In addition we're daily reading headlines like, "1000 Layoffs at NYC Transit," "1000 Jobs Cut in SF Schools," "Mass Layoffs on the Rise," "23,000 To Lose Work When Space Shuttle Shuts Down..."

14. Danger of DOUBLE DIP is becoming drastic.

15. Meanwhile, Harry's jobs bill, 15 cents worth, is now in trouble downstairs in Pelosi's Place.

A House in chaos - Jonathan Allen - POLITICO.com

16. The CBC on the left, the Dogs on the right.

17. The STIMULUS (which democrats can no longer call a stimulus) failed.

18. All the TARP, the takeovers, the bailouts, the mortgage reliefs...

19. Government, government everywhere.

20. Yet NOTHING IS WORKING.
 
1. Another revision DOWNWARDS.

2. This is getting to be ROUTINE.

3. The economic news every month is described as "unexpected."

4. Monthly stats are routinely "disappointing."

5. They're consistently reversing previous trajectories of some small improvement.

6. Which is why they're always so forebiddingly foreboding as far as forecasting our future.

7. We're talking here homes---SALES, VALUES and, most frighteningly, FORECLOSURES.

8. We're talking consumer spending, here.

9. Consumer confidence.

10. Virtually EVERY indicator.

11. And, of course, most jolting---JOBS.

12. TWELVE PERCENT in TWO WEEKS is wretchedly worrisome.

13. In addition we're daily reading headlines like, "1000 Layoffs at NYC Transit," "1000 Jobs Cut in SF Schools," "Mass Layoffs on the Rise," "23,000 To Lose Work When Space Shuttle Shuts Down..."

14. Danger of DOUBLE DIP is becoming drastic.

15. Meanwhile, Harry's jobs bill, 15 cents worth, is now in trouble downstairs in Pelosi's Place.

A House in chaos - Jonathan Allen - POLITICO.com

16. The CBC on the left, the Dogs on the right.

17. The STIMULUS (which democrats can no longer call a stimulus) failed.

18. All the TARP, the takeovers, the bailouts, the mortgage reliefs...

19. Government, government everywhere.

20. Yet NOTHING IS WORKING.

Nothing was done.... except bank a huge slush fund for the 2012 election war chest.
 
Does anyone besides me think that there are some factors out of the government's control (besides the weather) that have a significant influence on the unemployment rate?

It seems to me that the President is used as a scape-goat for things beyond the President's control.

[Disclosure: I was the victim of a permanent lay-off one week before Christmas of 2008. Although I obtained another job 10 weeks later, that experience was stressful and scary. So, I can empathize with people who have lost their jobs due to no fault of their own.]
 
Does anyone besides me think that there are some factors out of the government's control (besides the weather) that have a significant influence on the unemployment rate?

It seems to me that the President is used as a scape-goat for things beyond the President's control.

[Disclosure: I was the victim of a permanent lay-off one week before Christmas of 2008. Although I obtained another job 10 weeks later, that experience was stressful and scary. So, I can empathize with people who have lost their jobs due to no fault of their own.]
I've been laid off before. Nevertheless it's Obama who brought this on himself with his policies.
 
Yes because putting people on ignore is really brilliant on a debate forum...:roll:

It makes a lot of sense when there is no debate to speak of from the blocked party. You know the same ol' partisan ranting dribble that it's all the president's fault or this is why I hate our president blah blah blah.

Sorry but I my time is valuable. I prefer to debate with someone that has something intelligent to say.
 
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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.

"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." - Councilman

And that is the problem in a nutshell.

However, I take exception to your calling him a liar. That may only be true if he and his Progressive movement are intentionally trying to bancrupt the nation for the sake of some higher cause only they can see. But I believe these people merely believe their policies can actualy strengthen and rebuild the economy and our living standards.

The President is as inept as Pelosi/Reid. This is the best we can expect from this government.
 
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."

The weather element is bound to have some affect. But it's early still. Let's just see what transpires after next year and beyond if progressives can maintain control.

Who knows?! Maybe I'll have to eat my words.
 
No seriously I think the GOP would blame the weather on Obama if they could figure out how.
 
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