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New Jobless Claims Highest In 6 Months

From a still pitching Reuters:

Jobless claims post biggest jump in 6 months

By Pedro Nicolaci Da Costa
January 13, 2011

WASHINGTON (Reuters) – U.S. jobless claims jumped to their highest level since October while food and energy costs boosted producer prices, pointing to lingering headwinds for an economic recovery that had been showing renewed vigor.

A surge in exports to their highest level in two years helped narrow the trade deficit, however, an encouraging sign.

It truly is laughable how they will clutch at any straw.

Despite the more positive outlook for growth in recent weeks, the job market still appeared to be struggling.

And by "positive outlook" they mean their own rose-colored predictions.

The number of Americans filing for first-time unemployment benefits rose unexpectedly to 445,000 from 410,000 in the prior week, the Labor Department said on Thursday. It was the biggest one-week jump in about six months, confounding analyst forecasts for a small drop to 405,000

We were also shocked by the sun coming up and it snowing in January.

A Labor Department official did note the rebound in benefit claims occurred following the holidays, which may have hindered new applications and created a backlog. Without the seasonal adjustment, claims were up by nearly 200,000 to 770,413

So things are even worse than they are claiming – with their seasonal adjustments.

Meanwhile, from a similarly rocked but still trying Associated Press:

More people applied for jobless aid last week

January 13, 2011

WASHINGTON (AP) — More people applied for unemployment benefits last week after retailers shed temporary holiday employees.

That’s funny. When the unemployment numbers ticked down slightly we weren’t told that it might be due to "temporary holiday employees."

The Labor Department said Thursday that the number of people seeking benefits jumped by 35,000 to a seasonally adjusted 445,000 for the week ending Jan. 8. It was the highest level since late October.

Oddly enough the AP does not even claim to be surprised. Even though last week they claimed despite the number of new jobless claims going up, there were signals of "modest jobs growth."

The increase comes after applications had fallen to their lowest levels in two years over the winter holidays. Applications usually rise in early January once the holiday season ends

The government attempts to adjust the unemployment benefits figures to account for seasonal factors. But many economists consider the data in early January less reliable because of the seasonal fluctuations.

Applications may have also increased because the previous two weeks included the Christmas and New Year’s holidays, a Labor Department analyst said. That means many state unemployment offices were likely clearing backlogs of claims, he said.

Fewer than 425,000 people applying for jobless benefits is consistent with modest job growth. Applications are far below their peak of 651,000 during the recession, reached in March 2009…

It’s great to see that the AP is over their snit and is now fully back on the Obama bandwagon.

This article was posted by Steve on Thursday, January 13th, 2011. Comments are currently closed.

13 Responses to “New Jobless Claims Highest In 6 Months”

  1. proreason says:

    The holidays affected processing of jobless claims? gob-smacked again. Who could have predicted THAT one.

    • River says:

      What’s worse, the blizzard of new federal government regulations – particularly ObamaScare – make it much more difficult to start a new business. Start-ups have always been a huge source of new jobs, and small business employs millions.

      Apple Computers began in a garage in Palo Alto, Calif.; Microsoft started in Bill Gates’ aunts house. Back then it was a lot easier to take the plunge.

      It appears deliberate, the oppression of Washington D.C. and its malignant need to regulate; all in the name of “fairness”.

  2. untrainable says:

    If the trend continues, the media will run out of ways to verbally adjust Obama’s recession into butterflies and unicorns. They’re already straining pretty hard.

    • proreason says:

      We are entering a new phase.

      The liberals’ media no longer feels any need to have any basis whatsoever for what they say. Their narratives now float disengaged from the truth; full-on soviet-level propaganda.

      They aren’t running out of ways to spin it. They haven’t even hit second gear yet.

      I didn’t foresee it, but now that it has started, it really isn’t that surprising. Cut free from any restraining belief or document, the only restraint they would have would be the odds of success. And what they have been doing stopped working in 2010, so it’s a perfectly logical next step to simply disconnect from the anchor of what the rubes think of as facts and truth. An enlightened intellectual knows for absolute certain that there are no facts and truth……other than, of course, the fact that facts and truth cannot possible exist.

    • tranquil.night says:

      I don’t think we’re too far off from our economic zero hour, with the debt leading the way. Just looking over today’s economic news, it’s all the red flags we’ve been predicting. On the verge of food price crises (and the California Delta Smelt dustbowl ensues), commodities still skyrocketing, bond markets very shaky, Illinois and munis falling off the cliff. Obamanomics is clearly having great success for the Leftist cause. Now they’re all about whatever it takes to stop the Republicans, impugn and villify the Conservatives, Sarah Palin, the Tea Party. Whatever – it – takes.

      Amazingly a Reuters poll even has 71% against raising the debt ceiling (even if there’s division of the nature of cuts). That’s proof positive of how little credibility their political games have anymore, and what their continued commitment to them means. Unfortunately there are always going to be those they can convince Utopia is right around the corner.

    • untrainable says:

      What’s really strained is my ability to keep up with the all the contradictions in the liberal lie-fest.

      At this point, the most important goal of the left is to make Oblamer look re-electable. After the spanking they got in November, they realize that the empty rhetoric needs to be loud enough to drown out any truth. Any news that might skew opinion of the electorate against this clueless boob (jobs numbers, spineless foreign policy, impending economic collapse, the ineffectiveness of the messiah’s “laser-like-focus” on jobs since… day 1) must be covered up at all costs. The current price that the elite media is willing to pay to get their savior re-elected is their credibility. Unfortunately for them, that penny has already been spent. But they’ve been trading on the appearance of truth for so long I don’t think they realize… we ain’t buying it. I can’t even imagine a lie that would serve to make Obie look re-electable. I’m sure they’ll come up with one, but I can’t imagine what it could be.

      The only people who didn’t expect these jobs numbers are the ones who fabricated them. How they manage to feign surprise with a straight face is beyond me. Must take a lot of practice. That’s right. They’ve been practicing every waking moment for the last 2 years. Keep trying guys. Maybe someday your news may be fit to line bird cages. But not today.

  3. arb says:

    “The number of Americans filing for first-time unemployment benefits rose unexpectedly….”

    Captain Renault: I’m shocked, shocked to find that gambling is going on in here!
    [a croupier hands Renault a pile of money]
    Croupier: Your winnings, sir.
    Captain Renault: [sotto voce] Oh, thank you very much.

  4. Tater Salad says:

    There will be little to show for a jobs gain in the comming months or even years for two very simple reasons. First, the housing industry will not recover for any substantial gains, thereby keeping housing prices stagnet or even lower than they are now. Second, the Obama oil drilling ban has hurt the economy to the extent that oil pruchases from non-American companies takes money out of the U.S. and places it into foreign hands and govenments. The law of supply and demand is still there for oil or even greater (30 million Chinese cars) while Obama has taken a couple million barrels of oil out of the system per day and the tax cut money extended to Americans is being “eatin’ up” in higher gas purchase prices. Brilliant move???????

  5. BannedbytheTaliban says:

    If the fear mongers in congress manage to dupe people into re-instating the fairness doctrine, do you think they will get rid of this kind of tendentious reporting? Yeah, me neither.

  6. proreason says:

    In the bowels of the marxist machine, as we speak, they are debating whether it’s time for another ecnomic crisis.

    It’s not an easy decision for them. They know there is an angry beast out here, and the beast may not be controllable if the crisis is too obvious. They see us as stupid, but perhaps not stupid enough to accept another crisis so soon after Sept / Oct 2008. The arguments must delineate along the lines of when they should trigger it, and whether another form of crisis would be more appropriate. Tucson has gone pretty well for them. It has been like a conventional bomb vs a nuclear bomb.

    I’m betting that we will see some more conventional artillery until late in 2012. If necessary, at that time, they can roll out the tactical nuke.

    • untrainable says:

      Yeah, they were counting on that oil spill for a lot more crisis/camera time than it provided. Of course the opportunity to cripple domestic oil production while simultaneously paying Mexico with $1B/year of our tax dollars to take over drilling in the gulf was a stroke of liberal genious. The non-crisis wasn’t wasted. The appearance of “No the ban is lifted… (but no new permits will ever be issued while Obie reigns)” along with the added bonus of putting all those evil greedy oil workers out of work and on the dole is par for the progressive course.

      If nothing else comes along that the left can paste a crisis sign on they’ll start contradicting themselves about how awful the jobs numbers are and use that to justify another spending spree at our expense. Remember, the show ain’t over till we’re all on government assistance, welfare, food stamps, and sitting in a progressive re-education camp until we agree to renounce our evil greedy conservative ways.

      Careful though pro, all that talk about artillery and tactical nukes sounds decidedly un-civil. [sarc] Don’t forget the bullseyes!

    • proreason says:

      no worries untrainable.

      I’m applying the same approach to “civil speech” as I do to racism.

      As a bitter clinger, I know that I’ll be called a racist no matter what I say. Therefore, I simply speak the truth about matters of race. I recommend the approach for the entire country.

      Bring it on (and I don’t mean that in a civil way).

  7. Liberals Demise says:

    Talk about getting caught with your numbers (pants) down.
    My arse!!

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