Jobless claims surge in the latest week (482K)

[Craftsman]

Source: http://www.marketwatch.com/story/jobless-claims-surge-in-the-latest-week-2010-01-21

WASHINGTON (MarketWatch) - First-time claims for state unemployment benefits jumped unexpectedly by the largest amount in eight months, the Labor Department reported Thursday. The number of initial claims in the week ending Jan. 16 rose 36,000 to 482,000. The consensus forecast of Wall Street economists was for claims to inch lower to 438,000. This is the highest level of claims since November. The four-week average rose 7,000 to 448,250. This is the first increase after 19 straight declines. Claims in the previous week were revised to an increase of 13,000 to 446,000 compared with the initial estimate of an increase of 11,000 to 444,000. A Labor Department official said that there were more estimates this week because of the holiday on Monday. In addition, some of the increase may be due to administrative delays in reporting claims since the Christmas and New Year holidays. Overall, a record 12 million Americans received federal and state unemployment benefits on an unadjusted basis in the week ended Jan. 2, the latest period for which the data is available. This is up from 10.9 million in the prior week.


Read more: http://www.marketwatch.com/story/jobless-claims-surge-in-the-latest-week-2010-01-21

[Rapanui1]

1. As promised

Obama is creating jobs but in India/CHina. He promised to curb outsourcing but thus far has been a dismal failure. I will not vote in 2012 if Obama is running again as a democrat

[golddigger]

2. If Obama is running again as a Democrat?

So, are you saying if he runs as a repuke you will vote for him?

[OhioChick]

8. "He promised to curb outsourcing but thus far has been a dismal failure."

Agreed.

[flyarm]

3. anyone remember the board cheerers posting over and over how good the economy was getting?

remember the talking points bullets they were shoving down people's throats around here..telling anyone that would listen how great things are getting?

well i say to them..and they know who they are ..stick it!

[StarfarerBill]

4. Recovery, my ass.

If and when Congress finally passes a watered-down jobs bill, it'll be too late to help us tens of millions who've been without work for months or years.

Same-old, same-old...that you can believe.

[bossy22]

5. unemployment is always the lagging indicator

when it comes to economic growth. I'm not really surprised by this because i don't think unemployment is going to really start going down until the end of this year

[galileoreloaded]

6. Lagging indicator to a point. But in a depression scenario, it can form a feedback loop.

That is what you have here, a feedback loop in the wrong direction.

China cheap labor, and natural resource extraction are the end game here ladies and gent's.

[and-justice-for-all]

7. I am part of the jobless, but I am going to university..

as I am sure others are as well.

IMO, I think that if you decided to go University full time, then you should be able to draw those funds. Seeing that not all employers are so willing to accommodate some one who wants to better themselves and their financial well being.

I worked nights for over 4 years at my previous job and to be able to go to university on those hours as well as a rotating schedule is impossible. I could never go full time as was only able to take classes that were offered as online courses, so my progress up to this point, has been slow.

Getting laid off was the best thing that has happened, I find that it opened more doors than it has closed. I may not be making 50K a year, but so what; that job sucked and I have no interest in being a millionaire or to work my life away on some shit job were I was never appreciated for my efforts.