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Jobless Claims Up More Than Expected

Are you sitting down?

From the perpetually amazed Associated Press:

New Jobless Claims Rise More Than Expected

New jobless claims rise more than expected to 482,000, while total rolls also increase.

January 21, 2010

WASHINGTON — The number of newly-laid off workers seeking jobless benefits unexpectedly rose last week, as the job market recovers at a slow and uneven pace.

How exactly is the job market recovering if unemployment keeps going up?

The Labor Department said Thursday that initial claims for unemployment insurance rose by 36,000 to a seasonally adjusted 482,000. Wall Street economists had expected a small drop.

A Labor Department analyst said that much of the increase is due to administrative backlogs leftover from the winter holidays in the state agencies that process the claims.

So the earlier claims about a dip in unemployment claims were not accurate. Why weren’t we told that at the time?

The total number of people receiving benefits, meanwhile, rose sharply as more recipients began receiving emergency extended benefits, paid for by the federal government.

Note that the AP doesn’t give any by-line for this story. Maybe these are ‘robo-articles,’ like ‘robo-calls.’

After all, they have had to lay off a lot of (human) reporters lately.

Who can blame them for trying to cut costs?

This article was posted by Steve on Thursday, January 21st, 2010. Comments are currently closed.

9 Responses to “Jobless Claims Up More Than Expected”

  1. puhiawa says:

    When do these idiot AP writers become “unsurprised” or “as predicted by most economist”?

  2. proreason says:

    Because of the way the corruptocrats count, adjust and re-adjust this stuff, unemployment is almost certainly going to rise through the end of February, while the 2009 errors are adjusted, whether people are able to find jobs or not.

    The real test will be in the spring and summer. If there is no relief by then, the November elections will be historic. They can’t really cheat with these numbers, or at least, they haven’t been able to until the Man Behind the Curtain lied his way into the White House. That’s why they invented their own “jobs saved or created” lie to compete with these well-established statistical measures.

    Side note: don’t forget that they can make GDP go up simply via government spending. That stat no longer means much. The porkulus spending in the summer will be huge to make sure GDP is positive in Q2 and Q3 before the elections.

  3. tranquil.night says:

    Meanwhile, back at the ranch, the piggy bank Goldman Sachs posts a $4.79 billion 4Q profit, $16.2 billion in employee salaries and bonuses for 2009: http://www.huffingtonpost.com/2010/01/21/goldman-sachs-profits-ban_n_431060.html

    • proreason says:

      GS has somehow been at the center of, and profitted from, every financial bubble that has happened in the US since 1900. And there have been about 10 of those bubbles, in which the public has lost trillions.

      They are some lucky dudes, that’s for sure.

    • tranquil.night says:

      Yeah, there’s probably been 10 mini-bubbles in the past year. The competition is dead or in TARP chains. Oil, gold, wall street, they’re profiting obscenely on it all politically/financially. Savvy investors are probably just following them since it’s such easy money that if you are decently informed and can figure out their system, then you can make an educated guess when they’ll burst the inflated futures. Now if these banking regulations are as sweeping as the Libs want then Wall Street is next on the S-list.

  4. crosspatch says:

    The Fox article doesn’t carry the byline but I found it at a newspaper who had the story:

    By Christopher S. Rugaber

  5. MinnesotaRush says:

    C’mon now, gang!

    By next Tuesday (shortly after “Your Weekly Address” from o-blah-blah), he and Joe will haved saved or created another kabillion jobs! Just you wait.

    All hail o-blah-blah.

    • MinnesotaRush says:

      Oh yeah!

      And by Thursday, he and Joe will haved created/found 8,011 new Congressional Districts and 40,002 new zip codes.

      See it all on recovery.org.

  6. joeblough says:

    Jobless Claims Up More Than Expected

    The press seems unable to understand that this sort of headline makes their political darlings look like idiots.

    The expectations were wrong!

    That doesn’t mean that something unprecedented and unpredictable happened, it means that your buddies in power can’t think their way out of a wet paper bag!

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