Jobless Claims Increase

[Freddie Stubbs]

Source: Wall Street Journal

The number of U.S. workers filing new claims for unemployment benefits rose last week by more than expected, reversing declines posted the prior week and signaling there is still little improvement in job market conditions.

In its weekly report Thursday, the Labor Department said the number of U.S. workers filing initial claims for jobless benefits increased by 37,000 to 464,000 in the week ended July 17. Economists surveyed by Dow Jones Newswires had expected claims would rise by 21,000.

The disappointing report comes just one day after Federal Reserve Chairman Ben Bernanke told lawmakers that the U.S. economic outlook was ...

Read more: http://online.wsj.com/article/SB10001424052748703467304575382841177423032.html

[OhioChick]

1. "More than expected..."

That phrase is getting old.

[ixion]

11. way old

and you know they have to know that the phrase has become something of a joke.

[mahatmakanejeeves]

2. The source

Unemployment Insurance Weekly Claims Report

[dmallind]

3. Of course the people who cried foul about seasonally adjusted numbers

last week will be consistent and shout non-stop about "REAL" numbers falling this week........

No all of a sudden I guess SA numbers are legit (which they are of course, but were last week too).

[sandnsea]

4. Census Bureau made final cuts last week

Anybody who wasn't going through to the final operations were permanently let go, and eligible to file unemployment.

[jtuck004]

5. And Bernenke testifies that the Fed sees no reason to do anything

else since the economy is growing, albeit slowly.

I can't help thinking back to June 29th of this year when Obama and Bernanke sat on a stage and Obama was remarking about how
similar their thinking was on this, that things are getting better, and consumer confidence was up.

I was watching this in a window on CNBC, and in the window the consumer condidence numbers that had been released a couple
hours earlier showed that consumer confidence was decreasing, and the stock market was on a downhill run...

Is it possible that people (like Bernanke, Obama, others) who have assets of a million dollars or more are so insulated that
they cannot see the abject misery of 30 million Americans?

[ixion]

12. Of course, this is what happens when you keep a bunch of neocon appointees around

something that has always riled me greatly about Obama.

[Skittles]

6. but, so much is being done to help them!!!

:rofl:

[inna]

7. half a million people.... A WEEK??? holy shit.

[TheWatcher]

8. But The Stcok Markt iz up overr 200 pnts! PARTAAAAAYZ!!!!

:crazy:

[prolesunited]

9. The stock market *loves* a starving labor market

You can treat employees like shit, pay them crap wages, and work them to death because they have nowhere else to go.

Corporations are hoarding billions in cash and they don't have to spend it in this labor market.

[bvar22]

10. IBTL

This is a very harsh criticism, and can't be tolerated.

You obviously didn't get the memo.
Everyone MUST clap their hands, click their heels.
and pray to the Giant Invisible Hand to save us all.
"Thats the Free Market."