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Initial Jobless Claims in U.S. Unexpectedly Climb

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marmar Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Feb-04-10 09:44 AM
Original message
Initial Jobless Claims in U.S. Unexpectedly Climb
Initial Jobless Claims in U.S. Unexpectedly Climbed (Update2)
By Timothy R. Homan and Bob Willis


Feb. 4 (Bloomberg) -- More Americans unexpectedly filed first-time claims for unemployment insurance last week, indicating companies lack confidence the economic recovery will be sustained.

Initial jobless applications increased to 480,000 in the week ended Jan. 30, the most in seven weeks, from 472,000 the prior week, Labor Department figures showed today in Washington. The number of people receiving unemployment insurance was little changed and those receiving extended benefits increased.

An unemployment rate thats projected to average 10 percent this year will likely weigh on consumer spending, preventing the biggest part of the economy from accelerating. Without additional gains in sales, companies will be forced to keep cutting costs, limiting staff in order to boost profits.

The pace of improvement has slowed significantly in the last two months, said Anna Piretti, a senior economist at BNP Paribas in New York. This points to downside risk for consumption and the rest of the economy. ..........(more)

The complete piece is at: http://www.bloomberg.com/apps/news?pid=20601087&sid=aKx...



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lib2DaBone Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Feb-04-10 09:47 AM
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1. "Unexpectedly"... ROFL....... Translated:" we got caught lying again"...
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NightWatcher Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Feb-04-10 09:49 AM
Response to Reply #1
3. every week/month "they" say the numbers are looking up.....
then when the real numbers come out....tadaa we're still fucked


fool me once....
fool me twice....





fool me fifteen times.....( are we there yet)



Breaking News: February jobless numbers looking better
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OhioChick Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Feb-04-10 10:45 AM
Response to Reply #1
6. +1 n/t
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Warpy Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Feb-04-10 09:48 AM
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2. Unexpectedly?
I spent yesterday pointing out empty storefronts to a bank muckety muck.

Every empty storefront represents at least six people without jobs and those people won't be spending money in the storefronts that are left. That means every month, more storefronts will be empty glass with "for rent" signs in the middle of it.

Wall Street is not going to do anything but play numbers games and shift money from pocket to pocket until and unless the hell Main Street is going through is addressed.

I think he was impressed but you can never tell.
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lib2DaBone Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Feb-04-10 09:56 AM
Response to Original message
4. And with this Political Gamemanship/Blockade...nothing is going to get done..
The Republicorps will block EVERYTHING and then claim victory as the Titanic slips beneath the surface.

Tea Baggers already calling this "Obama's Recession", and of course.. the DEMS are letting them set the talking points... and get away with it ... as usual.

THe Repukes have conveniently forgot about 8 years of Mad Dog Bush. http://www.democraticunderground.com/discuss/duboard.ph...
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arcadian Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Feb-04-10 10:00 AM
Response to Original message
5. The country could be cratered with nuke bombs explosions
and there would still be somebody throwing positive spins on shit like this.
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