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Jobless Claims Unexpectedly Hit 9 Mo High

From those perpetually wrong sayers of sooth at Reuters:

U.S. jobless claims touch 9-month high

WASHINGTON | Thu Aug 19, 2010

WASHINGTON (Reuters) – New U.S. claims for unemployment benefits unexpectedly climbed to a nine-month high last week, government data showed on Thursday, yet another setback to the frail economic recovery.

Initial claims for state unemployment benefits increased 12,000 to a seasonally adjusted 500,000 in the week ended August 14, the highest since mid-November, the Labor Department said.

Analysts polled by Reuters had forecast claims slipping to 476,000 from the previously reported 484,000 the prior week, which was revised up to 488,000 in Thursday’s report.

Perhaps Reuters should try consulting tea leaves or the entrails of birds, instead of these analysts. They couldn’t do worse.

A Labor Department official said there was nothing unusual in the state level data.

No, this is the ‘new normal.’ You just have to lower your expectations. After all, you have to break some eggs to make ‘social justice.’

The four-week average of new jobless claims, considered a better measure of underlying labour market trends as it irons out week-to-week volatility, rose 8,000 to 482,500, the highest since early December

The number of people on emergency benefits increased 260,105 to 4.75 million in the week ended July 31.

This is now officially the worst ‘Summer Of Recovery’ we have ever had.

By the way, have you noticed how our watchdog media have stopped referring to the Bush administration’s  ‘Great Recession’?

Why is that?

This article was posted by Steve on Thursday, August 19th, 2010. Comments are currently closed.

9 Responses to “Jobless Claims Unexpectedly Hit 9 Mo High”

  1. jambon says:


    They’re in for a world of surprises early next year when things really start to dry up.

  2. jimreport says:

    Summer of recovery eh? Is that anything like the Summer of George on Seinfeld? Complete with bees buzzing soon after the declaration.

  3. proreason says:

    Maybe a free-market system could fix this.

    But your commissar masters hold you in the highest contempt anyway.

    Why do they even pretend to care if you have a job or not.

    They will make sure you have enough rice an corn to live.

    Don’t worry about it.

  4. Liberals Demise says:

    Last summer it was ‘shovel ready’.
    This year it’s ‘Recovery’.

    I really don’t know how much more of this bullshiite I can take from the Wizard of Vacations.
    I am one of the 500,000 between schedules (as my Limey friends say).

    Boy Blunder is the absolute worst leader (?) ever!!

    • heykev says:

      Like you, I’m between schedules as well. I was thinking that we could become “analysts” for the MSM and be shocked monthly at whatever news they happen to ask us to analyze.

      It’s either that or become meteorologists for TV stations where my father lives in Palm Springs, CA. It rains there approximately 5 days a year. So for 360 days, we’d have to say “today is going to be hot and sunny. Looks like the rest of the week will be hot and sunny as well.” Both seem to be high on my list for easiest jobs that have no real accountability.

    • JohnMG says:

      The only thing shovel-ready from this cadre of fools is the incessant load of horseshit that gets handed out on a regular basis.

      But not to worry. The clown-in-chief is off to Martha’s Vineyard on another 10-day vacation where he will hatch a plan to………What?

      Just another day in (his) paradise, while you schlubs deal with it as best you can. At least “Slick Willie” PRETENDED to feel your pain.

  5. Chinnubie says:

    You know Pro, I wouldn’t doubt that the regime starts handing out rice cookers like Castro did some years ago. That way you’ll be able to heat up the rice, beans, corn, and whatever else you can stuff in there.

    Somebody better take a stand before we truly end up like a third world country. I wish the military and the Supreme Court would march into the White House and throw this man-child president in jail, just like they did in Honduras. How come we can’t have what the liberal press calls a coup to overthrow this administration. The guy has stomped all over the Constitution in order to move his agenda forward, or am I not understanding correctly that it is perfectly allright for the government of this country to own car companies then hand them over to the unions that destroyed them in the first place. I have a feeling there are other violations but, then again maybe I’m just really confused and socialism/marxism are what everyone really want. Call me crazy.

  6. tranquil.night says:

    Rhetorical question: with each latest bailout jobs bill, how are we to know whether each job ‘saved or created’ wasn’t one that was ‘saved or created’ in an earlier jobs bill?

    The overbloated Public Sector is crushing itself under its own weight. Sure we’re just shoring up the fatcat’s pension funds, but there’s genuine distress on the part of Treasury, the Fed, and the regime that this time-bomb is gonna go off premature – before the election.

    The Public Sector is currently chained to the Private Sector. If one were to begin mass-layoffs, the bottom would fall out from both (That is to say until leadership and stability is restored at the government level).

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