Thursday, April 2, 2009

Jobless rate jumps unexpectedly

The number of people filing new jobless claims jumped unexpectedly last week, while those continuing to receive benefits hit a 10th straight record-high. Both figures show the labor market remains weak and is unlikely to recover anytime soon.

The Labor Department said Thursday that initial claims for unemployment insurance rose to a seasonally adjusted 669,000 from the previous week's revised figure of 657,000. That total was above analysts' expectations and the highest in more than 26 years, though the work force has grown by about half since then.

The tally of laid-off workers claiming benefits for more than a week rose 161,000 to 5.73 million, setting a record for the 10th straight week. That also was above analysts' expectations and indicates that unemployed workers are having difficulty finding new jobs.

I don't know who these companies are that are laying people off, but they aren't listening to the administration.  Don't they know the economy is getting better; that everything is "good," now?  It's time to start hiring people back again!!!  C'mon, get with it, people.

Who was it that said, "Nine straight months of job loss. Yet, just the other week, John McCain said the fundamentals of the economy are strong. Well, I don't know what yardstick Sen. McCain uses, but where I come from, there's nothing more fundamental than a job"?


James Wolfer April 2, 2009 at 10:02 AM  

Actually, I believe the administration said things will be better by the end of this year? That things might get worse before they get better?

Miss T.C. Shore April 2, 2009 at 10:17 AM  

The administration has said a LOT of things that appear to be so much crap.

Anonymous,  April 2, 2009 at 1:15 PM  

If we had all of the crap Obama is spreading.We could grow enough food to end world hunger.

Anonymous,  April 2, 2009 at 5:25 PM  

I did read that big ticket items are up,even with the uneplpoyment down. I interpt this as,companies are cutting staff to expand their business. Still,the perception and reality is not good for the Obama Admin.

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