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Emergency Jobless Insurance Claims Surge By Most Ever In Prior Week

Posted By admin On December 10, 2009 @ 10:30 am In Money Watch | Comments Disabled

Tyler Durden
Zero Hedge [1]
Thursday, December 10, 2009

The number you won’t hear mentioned anywhere in the Mainstream Media: 327,729. That is how many people shifted to Emergency Unemployment Compensation programs in the last week alone, hitting an all time record high of 4.2 million! [2] So as everyone is focused [3]on the benign picture of initial claims in the last week which was “only” 474,000, the number of people rolling off continuing benefits has exploded and is now a stunning 592,579 only in the last two week. Look for this number to keep going into the stratosphere as the 6 month continuing claims cliff keeps getting hit by more and more people who are unemployed and keep looking not only for believable change, but actual jobs to go with it.

[4]

And here is the chart that the administration would love to keep under lock and seal: the cumulative number of people on Emergency Insurance. At this rate those collecting EUC will surpass those on continuing claims (5.5 million) within a month.

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URLs in this post:

[1] Zero Hedge: http://www.zerohedge.com/article/emergency-jobless-claims-surge-most-ever-prior-week

[2] all time record high of 4.2 million!: http://www.dol.gov/opa/media/press/eta/ui/current.htm

[3] focused : http://www.bloomberg.com/apps/news?pid=20601087&sid=a5FqUQt3Ls7Y&pos=2

[4] Image: http://www.prisonplanet.com/sites/default/files/images/user5/imageroot/volcker/EUC%2012.10.jpg

[5] Image: http://www.prisonplanet.com/sites/default/files/images/user5/imageroot/volcker/EUC%20graph%2012.10.jpg

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