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U.S. initial jobless claims up 7,000 to 319,000

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NNN0LHI Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-07-05 10:09 AM
Original message
U.S. initial jobless claims up 7,000 to 319,000
http://futures.fxstreet.com/Futures/news/afx/singleNew....

WASHINGTON (AFX) - First-time claims for state unemployment benefits rose by 7,000 to 319,000 last week, the Labor Department said Thursday. The gain was in line with expectations on Wall Street. A "significant" portion of the gain was due to annual auto-plant retooling and to schools closing for the summer, a Labor Department spokesman said. The four-week moving average of new claims fell by 3,500 to 320,000, the lowest in four months. The number of laid-off workers collecting state unemployment checks fell by 16,000 in the week ending June 25 to 2.581 million, the lowest in six weeks

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jojo54 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-07-05 10:14 AM
Response to Original message
1. It's just a damn shame that what is never reported is
the amount of unemployed that no longer collect benefits and STILL don't have a job or at least, a good paying job or a full time job.
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papau Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-07-05 10:24 AM
Response to Original message
2. Friday's number will be interesting - the 200,000 est of last week is now
150,000 to 175,000 per the talking heads.

Given the pretend "birth/death" job addin, I'd bet on 225,000 as Bush needs some positive PR.
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Toucano Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-07-05 10:24 AM
Response to Original message
3. Wait a minute.
When schools close for the summer, people file for unemployment?

I haven't heard that before.
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Roland99 Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jul-08-05 07:53 AM
Response to Reply #3
4. Well, unemployment is now DOWN to 5.0%
Welcome to Bizarro world
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