SEC=UGA Posted July 22, 2010 Share Posted July 22, 2010 NEW YORK (CNNMoney.com) -- The number of Americans filing for initial unemployment insurance climbed last week, the government said Thursday. There were 464,000 initial jobless claims filed in the week ended July 17, up 37,000 from a revised 427,000 the previous week, the Labor Department said. The number of claims was much higher than expected. A consensus estimate of economists surveyed by Briefing.com expected new claims to rise to 445,000. "It's very disappointing to have this leading indicator of economic conditions jump higher," said John Lonski, chief economist at Moody's Economy.com. "This is the latest reminder of a weak labor market, and the jump preserves worries regarding the adequacy of economic growth." The 4-week moving average of initial claims, which is calculated to smooth out volatility, was 456,000, up 1,250 from the previous week's revised average of 454,750. http://money.cnn.com/2010/07/22/news/econo...ndex.htm?hpt=T2 Quote Link to comment Share on other sites More sharing options...
Savage Beatings Posted July 22, 2010 Share Posted July 22, 2010 Az has a thread which documents the lack of ability for any experts to accurately forecast these numbers. It's pretty fricken funny (and sad). Quote Link to comment Share on other sites More sharing options...
WaterMan Posted July 22, 2010 Share Posted July 22, 2010 Hmm so the jobless claims increase but one party wants to keep things they way they are with unemployment. Quote Link to comment Share on other sites More sharing options...
SEC=UGA Posted July 22, 2010 Author Share Posted July 22, 2010 Hmm so the jobless claims increase but one party wants to keep things they way they are with unemployment. Yeah, great for the unemployed and for all of the businesses (and taxpayers) that are covering these unemployment benefits. How long before they raise my FUTA rate? Quote Link to comment Share on other sites More sharing options...
muck Posted July 22, 2010 Share Posted July 22, 2010 The market was off over 1% yesterday on comments from Bernanke that we may have to raise rates at some point as if that was some sort of surprise. The market is up over 2% today after leading indicators are pointing down and jobless claims are increasing. Are the earnings news out of UPS and some of the banks really enough to offset the other? Both days seem like so much noise, frankly. Quote Link to comment Share on other sites More sharing options...
gbpfan1231 Posted July 22, 2010 Share Posted July 22, 2010 NEW YORK (CNNMoney.com) -- The number of Americans filing for initial unemployment insurance climbed last week, the government said Thursday. There were 464,000 initial jobless claims filed in the week ended July 17, up 37,000 from a revised 427,000 the previous week, the Labor Department said. The number of claims was much higher than expected. A consensus estimate of economists surveyed by Briefing.com expected new claims to rise to 445,000. "It's very disappointing to have this leading indicator of economic conditions jump higher," said John Lonski, chief economist at Moody's Economy.com. "This is the latest reminder of a weak labor market, and the jump preserves worries regarding the adequacy of economic growth." The 4-week moving average of initial claims, which is calculated to smooth out volatility, was 456,000, up 1,250 from the previous week's revised average of 454,750. http://money.cnn.com/2010/07/22/news/econo...ndex.htm?hpt=T2 Frickin Bush!!!!!!! Quote Link to comment Share on other sites More sharing options...
gbpfan1231 Posted July 22, 2010 Share Posted July 22, 2010 This is good news right?? Pelosi says unemployment is a job creator so this must be great news!!! Quote Link to comment Share on other sites More sharing options...
TimC Posted July 22, 2010 Share Posted July 22, 2010 Az has a thread which documents the lack of ability for any experts to accurately forecast these numbers. It's pretty fricken funny (and sad). Economists and weathermen have a contest every year to see who can be the most clueless. Quote Link to comment Share on other sites More sharing options...
gbpfan1231 Posted July 22, 2010 Share Posted July 22, 2010 Economists and weathermen have a contest every year to see who can be the most clueless. and amazingly Bushwacked wins it every year. Quote Link to comment Share on other sites More sharing options...
WaterMan Posted July 22, 2010 Share Posted July 22, 2010 This is good news right?? Pelosi says unemployment is a job creator so this must be great news!!! Bush said the economy was just drunk. Maybe he ment to say the economy has an alcohol problem. Quote Link to comment Share on other sites More sharing options...
westvirginia Posted July 22, 2010 Share Posted July 22, 2010 (edited) Hmm so the jobless claims increase but one party wants to keep things they way they are with unemployment. Are you just being a sucker for whatever the media feeds you, or are you marching to the beat of your talking points? 1) This can still be done without heffalump support. But enough asses are on board with the heffalumps (you can tell it's an election year, can't you?) that BO can't get his own party in line. 2) The heffalumps say they'll GLADLY vote for the extension of benefits, but within the parameters of the PAYGO legislation obamessiah trumpeted when they passed a year or so ago. He said "Congress can only spend a dollar if it saves a dollar elsewhere.", and with the last extension obamessiah said "It is fully paid for, and therefore is fiscally responsible." QED, the path the asses are pursuing here, not being paid for but borrowed, is therefore fiscally irresponsible. According to obamessiah. Your call. edit for punctuation Edited July 22, 2010 by westvirginia Quote Link to comment Share on other sites More sharing options...
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