Jobless claims jump unexpectedly

CNN MONEY
Thursday, September 4, 2008

WASHINGTON (AP) — The number of newly-laid off workers seeking unemployment benefits jumped unexpectedly last week, the government said Thursday, reversing three weeks of declines.

The Labor Department reported that new applications for unemployment insurance rose to a seasonally adjusted 444,000, up 15,000 from the previous week. Economists had expected claims to drop to 420,000.

The increase indicates that the slowing economy is taking its toll on the job market. Many economists consider claims above 400,000 to be a sign of a weak economy. Initial claims stood at 320,000 in the same week last year.

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The four-week moving average fell slightly to 438,000, down 3,250 from the previous week.

The number of people continuing to receive unemployment benefits also rose slightly to 3.44 million for the week ending Aug. 23, up 6,000 from the previous week. That number doesn’t include people who have exhausted their regular benefits and have requested extended assistance under an emergency program.

While Thursday’s figure is below the six-year high of 457,000 reached in late July, economists attributed some of that increase to an outreach program by the Labor Department to notify individuals about the availability of extended benefits. Congress approved the extra benefits in June.

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5 Responses to “Jobless claims jump unexpectedly”

1. Steel Kage Says:
   September 5th, 2008 at 8:46 am

   From my perspective, these numbers are a lot higher. In my household, 2 out of 3 are unemployed; all college-educated. The same for my college-educated friends…75% of them are unemployed. Because the unemployment does not take ‘money’ while you are in college for their insurance, it is not there for us and we do not get ‘benefits’. It is getting very frustrating that even the minimum wage jobs are being filled with people that the companies can get cheaper than minimum. People who would be making $24/hr now are having to work 3 $8 jobs…taking up more than necessary. It makes it difficult to start a new business to hire good people at decent wages when people are just barely paying for sustenance. College is a scam right now…save your money!!!

2. Current resident Says:
   September 5th, 2008 at 10:05 am

   If they hadn’t continously changed the formula for computing unemployment ( it actually doesnt include many unemployed , if that makes any sense ) but if the formula was still the one used on Carter in the 70’s ; my guess is around 15-22% unemployment. You can see areas like michigan , oregon , ohio, the rust belt, the textile belt, anywhere where our industrial infrastructure used to be are much higher if not literal ghost towns.Thats the usa, the heart of america is gone. ripped out by the roots and shipped to china, like the wtc steel. now there’s an irony. Anyone hear about those new high tech jobs that were going to take the place of those old factory jobs lately ? how about greenspans “technological increases in production efficincies drawing synergy from capital pools should bring us to utopia , well, right about now. Those Amish are looking smarter every day aren’t they ? People have long memories without TV.
   No more lies.
   NO NWO
   NO AMERO
   Just say No to the NWO

3. unexxxpected Says:
   September 5th, 2008 at 4:12 pm

   All stats are made up anyway.
   Do you know what’s really controlling this mess?

   You need to know.

   http://illuminatimatrix.wordpr.....y-message/

   You can only save yourself. But you can…

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4. Alienation Says:
   September 5th, 2008 at 5:50 pm

   - The increase indicates that the slowing economy is taking its toll on the job market…

   Who is the fucking idiot who wrote this? Perhaps some of us are as stupid as these articles make us out to be, or perhaps the author believes that the resulting job market in a slowing economy increases. No, he/she has to be (HAS TO BE) smarter than that and so I’ll assume he/she believes we’re all just a bunch of morons.

   Either way, none of it matters because the numbers merit less than a piece of poop on the sidewalk. They do not represent “unemployment” figures. What is represented is official “unemployment compensation claims”. The same people who had their claims expire yesterday and still have no job today are immediately considered employed by these numbers. They’re not fooling anyone but sadly, although many are waking up to the inequities of our righteous leaders, hardly anyone will stand up against them.

5. LipMcNip Says:
   September 5th, 2008 at 11:39 pm

   Steel Kage….Thanks for sharing your stats and observations. I am also college educated and can not figure out why I am unemployed. With a science and math degree. Remember when they told us that type of degree was invaluable? And I have work experience in the field. How much sense does that make? Thank you for letting me know it is not just happening to me. You know, Hitler did not like the educated people or free thinkers either. Unless, of course, they were willing to sell their soul to the devil, follow his agenda and were willing to carry out his evil plans. That’s what I am telling the “youngins” now, don’t waste your time or money on college right now. Things are way too unstable.