The number of American workers making initial unemployment claims unexpectedly jumped to its highest level in nine months last week – providing further evidence that the U.S. job market is once again contracting.
New jobless claims jumped to 500,000 for the week ending on August 14, the highest level since November 2009. Analysts had predicted there would be 4,000 fewer claims, but there were actually 12,000 more. The four-week moving average of new jobless claims – which provides a less volatile measure – also unexpectedly shot up to 482,500, the highest level since December 2009.
After shedding more than 8 million jobs during the first two years of the recession, the job market briefly stabilized earlier this year thanks in large part to temporary government hiring for the U.S. Census.
The U.S. unemployment rate remained at 9.5 percent in July, while the underemployment rate – which includes eligible workers who have grown so depressed with the job market that they have given up searching for work – remained at 16.5 percent.
By No Name August 19, 2010 at 11:55 am
Using or quoting data from the government or the media…..a media that is scared shitless that it’s support of Obama will make it completely and utterly useless in the readers mind….is just stupid.
Go to http://www.shadowstats.com…..but only go there if you have a real strong stomach…..because it is going to show you the real world and it is not pretty for the average american.
Ben can not do anything about the deflation and hypering asset values that are in our future.
One Term Barry may soon just pull a Palin and move back to Chicago.
By fitsnews August 19, 2010 at 12:11 pm
“No Name,”
We LOVE shadow stats:
http://www.fitsnews.com/2010/05/07/a-hyper-inflationary-great-depression-is-coming/
-FITS
By Florida Watching August 19, 2010 at 1:21 pm
Ok, kind of a quick, informative article. For a quick laugh, there are great full nude Dr. Laura pictures on the net. Talk about a fake blonde. There’s nothing like that really big black……..
Sorry, kinda off topic.
By Billy Bob August 19, 2010 at 1:28 pm
0h, I’m not surprised. The current “recession” REALLY started with Jimmy Carter and then Reagan exacerbated the friggin problem with his Voodoo Economics and with the exception of short lulls (just ignore those couple of small bubbles where everybody lost their collective minds, esp 2003-2007) and we have been going to second world status for over 30 years now. The bill is just coming due and it will be ugly. We no longer make anything, our kids don’t learn anything and our technology is being stolen, exported or reverse-engineered at an alarming rate. It’s time to move into the 21st Century and become a world leader again in the areas that count – self-sustaining green energy and making our industrial capacity work, whatever the cost in terms of protectionism, etc.
By R August 19, 2010 at 1:44 pm
Why is anyone surprised? The Obama Administration touted job gains based nearly all on the 1,000,000 temporary workers for the Census. Now that the Census is over those 1,000,000 jobs are gone. Factor in the Marxist Health Care takeover and the upcoming tax increases business are not hiring due to all the uncertainty. Let’s face it-Obama and most of his Administration have never had real jobs so its not surprising they have no clue how to run an economy.
By Darth August 20, 2010 at 10:56 am
Given that the talking heads look for the point of inflection in the calculus of “change” that best suits their own point, ought anything suprise us? Similar lies, though the raw data has been discarded, keep Gore’s global warming scam propped precariously up so Al’s Enron can trade carbon shares and blue sky.
By term limits August 20, 2010 at 1:18 pm
Its not Nobama’s fault, he inherited this mess from Pelosi, Reid, Frank, Boxer, Schumer, Clyburn….
Keynesian economics is for boneheads. Government debt generates no velocity, no demand and no jobs in the short or long term. It adds to the debt (which is never paid off even with promised tax increases) merely to payoff the piglets on the teat.
Life is tough, get a job
By Florida Watching August 20, 2010 at 3:07 pm
Dr. Laura is selling her bush pictures for 100 bucks. That should help the economy.