New jobless claims rise unexpectedly to 558K

Discussion in 'Economics' started by ByLoSellHi, Aug 13, 2009.

  1. Green shoots!

    A re-spike in jobless claims! All while continuing claims fall as long-termed unemployed drop off the rolls, as their UE insurance runs out.

    Last week, we heard a job loss figure of a mere 278k, even though the real figure was closer to 670k, as again, 400k long term unemployed lost their unemployment insurance.

    Green shoots!

    New jobless claims rise unexpectedly to 558K

    Associated Press
    Thursday, August 13, 2009

    Washington --
    The number of newly laid-off workers filing claims for unemployment benefits rose unexpectedly last week, while continuing claims fell sharply.

    The Labor Department says new claims increased to a seasonally adjusted 558,000, from 554,000 the previous week. Analysts expected new claims to drop to 545,000, according to Thomson Reuters.

    The number of people remaining on the benefit rolls fell to 6.2 million from 6.34 million the previous week. Analysts had expected a slight decline.

    The four-week average of initial claims, which smooths out fluctuations, rose by 8,500 to 565,000, after falling for six straight weeks.
  2. Green shits!
  3. LOL, yep! :D
  4. MattF


    give it till the holidays...then the fun begins