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Title: Jobless Claims in U.S. Increased 12,000 to 465,000
Source:
Bloomberg News
URL Source: http://www.bloomberg.com
Published: Sep 23, 2010
Author: Bob Willis
Post Date: 2010-09-23 08:49:02 by war
Keywords: None
Views: 8235
Comments: 12
Sept. 23 (Bloomberg) -- Applications for U.S. unemployment benefits unexpectedly rose last week, a sign companies remain cautious about hiring as economic growth slows. Initial jobless claims increased by 12,000 to 465,000 in the week ended Sept. 18, Labor Department figures showed today in Washington. The total number of people receiving unemployment insurance declined, while those getting extended payments rose. Employers that have slowed firings since the recession ended in June 2009 haven’t stepped up the pace of hiring enough to reduce an unemployment rate hovering near a 26-year high. A lack of job growth may signal consumer spending will be restrained in the second half of the year, economists said. “The labor market is in a pretty soft position,” Paul Dales, a U.S. economist at Capital Economics Ltd. in Toronto, said before the report. “Private-sector employment is still growing but not anywhere near fast enough to bring down the unemployment rate.” Futures on the Standard & Poor’s 500 Index expiring in December extended losses after the report, declining 1 percent to 1,118.70 at 8:36 a.m. in New York. First-time claims for jobless benefits were projected to hold at 450,000 last week, according to the median forecast of 47 economists in a Bloomberg News survey. Estimates ranged from 440,000 to 475,000. The Labor Department revised the prior week’s figure to 453,000. The four-week moving average, a less volatile measure than the weekly figures, dropped to 463,250 last week from 466,500, the fourth straight week of declines, today’s report showed. Continuing Claims The number of people continuing to receive jobless benefits fell by 48,000 in the week ended Sept. 11 to 4.49 million. They were forecast to drop to 4.47 million, according to economists surveyed by Bloomberg. The continuing claims figure does not include the number of Americans receiving extended and emergency benefits under federal programs. Those who’ve used up their traditional benefits and are now collecting emergency and extended payments increased by about 208,000 to 5.17 million in the week ended Sept. 4. The unemployment rate among people eligible for benefits, which tends to track the jobless rate, declined to 3.5 percent in the week ended Sept. 11 from 3.6 percent the prior week. Forty-four states and territories reported a decline in claims, while nine reported an increase in the ended Sept. 11. Initial jobless claims reflect weekly firings and tend to fall as job growth -- measured by the monthly non-farm payrolls report -- accelerates. Unemployment Rate Private employers in August added 67,000 workers while total payrolls fell by 54,000, the Labor Department said earlier this month. Unemployment rose to 9.6 percent last month, and economists surveyed by Bloomberg News forecast joblessness will stay near that level for the rest of the year. Some companies are still firing workers while others are beginning to hire. Textron Inc., a Providence, Rhode Island-based maker of airplanes, said Sept. 21 it is cutting 700 jobs and adjusting production schedules at its Cessna unit because of continued weakness in new orders. “While we are seeing solid performance in most of our other businesses, we have not yet seen a discernable improvement in business-jet order activity,” Chief Executive Officer Scott Donnelly said in a statement. Appliance Retailer Indianapolis-based appliance and electronics retailer hhgregg Inc. this week announced it was seeking to fill 50 sales positions each at new stores in Manassas, Virginia, and Erie, Pennsylvania. President Barack Obama this month proposed a package of $180 billion in business tax breaks and infrastructure spending to boost job growth. That would come on top of the $814 billion in stimulus measures enacted last year that the administration said in July would have saved or created 3.5 million jobs by the end of this year. Polls reflect diminishing support for Obama and his Democratic party ahead of midterm elections in November as growth slows and employment stagnates. A poll by Quinnipiac University taken Aug. 31 to Sept. 7 showed 56 percent of voters disapproved of Obama’s handling of the economy.
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#1. To: All (#0)
Owe-bama lied, the economy died. (I checked this for accuracy)
Obama's first all-by-his-lonesome budget, btw, calls for a $1.17 trillion deficit.
"We are digging deeper for coal, extracting minerals from ores that have lower concentrations, creating more environmental damage for the same produced quantity, consuming more energy to achieve the same produced quantity, etc. The inputs required are increasing for any given quantity of produced resource. Consequently there is less left over after the net gain is calculated. Ultimately, if more resources are used in production, less wealth is left over for us to share amongst ourselves. Our standard of living depends on the margin between resources produced and resources consumed in the production process:" http://www.energybulletin.net/stories/2010-09-22/networking-resource-production-do-networks-warn-us-failing The Increase of wealth by the Top 50 000 as the Economy Collapses can only come out of the hides of the Bottom 90% minus the Bottom 100 million who've already 'given' all the 'blood' they can.
The recession that Obama inherited from the GOP ended in June of 2009. And remember, your side keeps arguing that the only reason people are unemployed is because they are too lazy to take the jobs out there and would rather take unemployment benefits. Please remember to reinforce this point when you talk to folks struggling to find work. Obama has so screwed up the economy it's funny. Oh well, he get's to gold while everyone else dumpster-dives for their food! Nice contrast! Clinton and Cuomo are the true bandits who lit the fuse to this economic crisis we're now in. All in the name of getting more minorities in houses: http://libertysflame.com/cgi-bin/readart.cgi?ArtNum=12554
What's funnier is that you believe that everything was okie dokie on 1/20/09.
Got a link for that comment?
Clinton and Cuomo are the true bandits who lit the fuse to this economic crisis we're now in. All in the name of getting more minorities in houses: http://libertysflame.com/cgi-bin/readart.cgi?ArtNum=12554
The economy is better now than it as when Obama assumed office. Your statement is a lie.
'With the passing of the stimulus, unemployment will not exceed 8%'. Spin it to somebody that didn't pay attention, GO65.
Obama's first all-by-his-lonesome budget, btw, calls for a $1.17 trillion deficit.
Your statement is a lie. I measure the economy by the critical UNEMPLOYMENT index. Sorry, you lose again.
Clinton and Cuomo are the true bandits who lit the fuse to this economic crisis we're now in. All in the name of getting more minorities in houses: http://libertysflame.com/cgi-bin/readart.cgi?ArtNum=12554
Spin it to somebody that didn't pay attention, GO65. Don't bother GO65 with facts. His head will explode.
Clinton and Cuomo are the true bandits who lit the fuse to this economic crisis we're now in. All in the name of getting more minorities in houses: http://libertysflame.com/cgi-bin/readart.cgi?ArtNum=12554
We're no longer bleeding jobs 600k a month as we were during the latter stages of the Boy Blunder economy. Is that what you mean? In other words, you miss those days?
Him and the dwarf from what I see in your quote box. Same old same old.
Obama's first all-by-his-lonesome budget, btw, calls for a $1.17 trillion deficit.
#2. To: war (#0)
“While we are seeing solid performance in most of our other businesses, we have not yet seen a discernable improvement in business-jet order activity,” Chief Executive Officer Scott Donnelly said in a statement.
#3. To: Badeye (#1)
Owe-bama lied, the economy died.
..we have put in so much entitlement into our government that we really have spoiled our citizenry and said you don't want the jobs that are available." - Republican Senate candidate Sharron Angle
"My grandmother was not a highly educated woman but she told me as a small child to quit feeding stray animals. You know why? Because they breed. You're facilitating the problem if you give an animal or a person ample food supply. They will reproduce, especially ones that don't think too much further than that. And so what you've got to do is you've got to curtail that type of behavior. They don't know any better." -Republican Lt. Gov. Andre Bauer South Carolina
And the Conservative plan to create jobs is......?????
#4. To: war (#0)
#5. To: Nebuchadnezzar (#4)
Obama has so screwed up the economy it's funny.
#6. To: war (#5)
What's funnier is that you believe that everything was okie dokie on 1/20/09.
#7. To: Nebuchadnezzar (#6)
(Edited)
#8. To: go65 (#3)
Owe-bama lied, the economy died.
#9. To: war (#7)
The economy is better now than it as when Obama assumed office.
#10. To: Badeye (#8)
'With the passing of the stimulus, unemployment will not exceed 8%'.
#11. To: Nebuchadnezzar (#9)
#12. To: Nebuchadnezzar (#10)
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