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Jobless Claims Still More Than Expected

Though you won’t hear that from the Associated Press:

First-time jobless claims drop slightly

By Christopher S. Rugaber, AP Economics Writer

March 18, 2010

WASHINGTON – The number of newly laid-off workers requesting jobless benefits fell slightly last week for the third straight time. But initial claims remain above levels that would signal net job gains.

New claims for unemployment insurance fell 5,000 to a seasonally adjusted 457,000, the Labor Department said Thursday. That nearly matched analysts’ estimates of 455,000, according to Thomson Reuters.

The four-week average of jobless claims, which smooths [sic] out volatility, dropped to 471,250. Still, the average has risen by 30,000 since the start of this year. That’s raised concerns among economists that persistent unemployment could weaken the recovery.

The average number of weekly jobless claims remains above the 400,000-to-425,000 level that many economists say it must fall below before widespread new hiring is likely…

The number of people continuing to claim unemployment benefits rose slightly to 4.58 million. That was similar to what economists expected

You will notice that for once there is no mention of this being unexpected in the AP’s report.

Which is weird, since the analysts the AP cites are from Reuters, and yet Reuters says in their lead paragraph that their was less of a decline in the jobless rate than was expected:

New jobless claims dip slightly

WASHINGTON (Reuters) – The number of workers filing new applications for unemployment benefits fell less than expected last week, while consumer prices were unchanged in February on lower energy prices.

The data on Thursday pointed to a gradual improvement in the labor market and generally muted inflation pressures, which should allow the Federal Reserve to honor its commitment to keep its benchmark interest rate ultra low for a while…

Initial claims for state unemployment benefits fell 5,000 to a seasonally adjusted 457,000 in the week ended March 13, the Labor Department said. Analysts had expected claims to slip to 455,000

It’s getting so we just don’t know who to believe about the economy anymore.

This article was posted by Steve on Thursday, March 18th, 2010. Comments are currently closed.

7 Responses to “Jobless Claims Still More Than Expected”

  1. JohnMG says:

    Let me be the first to say, Wow! This is GREAT news!! Sorry, “Plugs”. I beat ya to it.

    Do these people not realize that any business that remains viable eventually ceases to lay people off, else they no longer have a work-force to perform the work they DO have? Put another way, eventually a company runs out of people to lay off.

    I guess it’s the ‘new math’ I don’t understand.

    • Liberals Demise says:


      Could it be that they are are running out of people to count?
      Always the number count of ‘New Unemployment Claims’ but nothing about people going back to work.

      Good God!!

  2. proreason says:

    At half a million jobs lost a month, it looks like every job will be lost in about 10 years.

    Then the rich people will be forced to take care of all of us.


  3. Right of the People says:

    It’s not “unexpected” anymore because it’s proof that The Won’s plan for tanking our economy is working.

    Pro, I with you. Let the rich take care of me, I’m ready.

  4. Rusty Shackleford says:

    My surprise at this is most unexpected.

  5. MinnesotaRush says:

    C’mon now guys …

    After all, o-blah-blah JUST signed the “Job’s Bill”.

    This slight and unexpected problem should be resolved now by about noon on Tuesday. Dontcha’ think???

    • JohnMG says:

      Now I get it. Obama signed a JOBS bill. That means all of us are now mandated to go out and find a job…… or pay a huge fine. That’s his solution to everything.

      The beatings will continue until morale improves!!

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