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Shocker: New Jobless Claims Up Sharply

It’s Thursday, which means it is time for our weekly installment of unexpected news from the Associated Press:

New claims for jobless benefits rise sharply

By Alan Zibel, AP Business Writer

June 17, 2010

WASHINGTON – The number of people filing new claims for jobless benefits jumped last week after three straight declines, another sign that the pace of layoffs has not slowed.

Even though every other week the AP tells us that the pace of layoffs has slowed.

Initial claims for jobless benefits rose by 12,000 to a seasonally adjusted 472,000, the Labor Department said Thursday. It was the highest level in a month.

First-time jobless claims have hovered near 450,000 since the beginning of the year after falling steadily in the second half of 2009. That has raised concerns that hiring is lackluster and could slow the recovery.

Still, the four-week average for unemployment claims, which smooths [sic] volatility, dipped slightly to 463,500. That’s down by 3,750 from the start of January…

Economists say they will feel more optimistic that the economy is creating jobs once initial jobless claims fall below 425,000 per week

The number of people continuing to claim benefits rose by 88,000 to 4.57 million. That doesn’t include about 5.2 million people who receive extended benefits paid for by the federal government.

So in fact there are 9.77 million Americans receiving unemployment benefits — and who knows how many whose benefits have run out.

Adding to worries about the job market, the Labor Department said earlier this month that the economy generated only 41,000 private-sector jobs in May. That was down from 218,000 in April

And yet most of our news media trumpeted that Labor Department report as good news. Isn’t it fun to watch our media watchdogs rewrite history from week to week, right before our very eyes?

Incidentally, the word ‘unexpected’ does not appear anywhere in this week’s Associated Press jobless report.

Even the AP might be finally catching on.

This article was posted by Steve on Thursday, June 17th, 2010. Comments are currently closed.

9 Responses to “Shocker: New Jobless Claims Up Sharply”

  1. untrainable says:

    The most unexpected thing about this article is that the word ‘unexpected’ does not appear anywhere in it. They’re not catching on though. I think they’re just trying to find a new word so that we have to stop making fun of them.

    Though not unexpected, the new numbers are amazing, astonishing, astounding, awe inducing, bewildering, curious, incredulous, revealing, shocking, stupefying, and unforeseen, but not unexpected.

  2. Petronius says:

    If there is any justice left in the universe, Nerobama will be unemployed in about 30 months. And he will be entering the workforce when 20% unemployment is the new normal.

    So what is he going to do then?

    He’s got no authentic education credentials or job credentials. No school records, no college transcript, no law school transcript, no teaching records, no Illinois bar records, no nothing.

    Never served in the military.

    Never done a lick of real work. Never balanced a budget. Never worked his way up from the mail room. Never met a payroll. Never managed a business. Never managed anything bigger than a bowel movement.

    Hope and change are not job qualifications.

    Clearly he can’t go back to being a community organizer. That is no career for a grown man. Much less for a former president of the United States.

    He can’t write his memoirs. Because he’s already done that twice. To write a third memoir would be more than a crime against history. It would be in bad taste.

    He can’t teach constitutional law because he doesn’t know anything about the law or the Constitution. And because he hates them both.

    Of course he may become a gangster, drawing on his political experiences as an extortionist, con artist, and wrecker. But he can’t very well embark on a new life of crime, because that’s what he’s doing now. The chief difference being that now he has a large degree of wiggle room, executive privilege and immunity. Which he may lose as a private citizen in days to come.

    And even if he has skimmed stimulus money from the U.S. Treasury for SEIU, ACORN, and other assorted remora, and collected payoffs from his shake-downs of businesses, of which BP is only the flavor of the month, he will still need to find another job, if only for the sake of appearances.

    Perhaps he could make a bid for Franklin Delano Raines’ old job, and underwrite more sub-prime loans at Fannie Mae? We might think of it as community organizing on a national scale. With global reach. But the halcyon days of the subprime mortgage racket are probably over. Been there, done that.

    So….. it looks like you’d better get busy, Nerobama! Never let a good crisis go to waste. Better go down to the Gulf, shovel ready, roll up those sleeves, scrunch down in the sand, scoop up those tar balls, and learn the oil spill clean-up business. Learn it from the ground up.

    Stoop labor is the essence of clean energy. Go green.

    Carpe diem!

    • proreason says:

      He should be breaking rocks.

    • Rusty Shackleford says:

      Petronius, As bad as things are…I want to thank you for making my day.

      That bit of writing had me grinning wryly and taking great satisfaction in the satire.

      Perhaps he will go on the “lecture circuit” where he can continue to blame Bush for the next several decades and regale us with his accounts of “there I was”.

      Emphasis on “was”.

      But I’m sure—-that wherever a community needs organizing—-where elections need to be rigged—–republicans need to be blamed—–dogs need to be kicked NO-bama will be there!

      For just as he’s realizing his presidency is just about over….when he steps out of the West Wing for the last time….I’m sure he’ll say, “You ain’t seen nuttin’ yet”.

      And he’ll be correct in that assumption.

    • tranquil.night says:

      My guess is that he’ll seek out his one post-presidency refuge: media. On his daily 4 hour show on Government News Broadcasting Channel (GNBC, formerly MessNBC) he will continue to try and convince people that the stimulus created jobs. It will be hailed by all the critics as a beacon of enlightenment despite being an American rip off of Hugo Chavez’ Alo Presidente, yet nevertheless it will be cancelled one month later for its poor performance with respect to other government programs.

      He’ll then become a venerated Imam and work the hardest of any former President for Palestinian Freedom and an end to Jewish tyranny. In an odd turn of events however, a fatwah will come upon him after he publicly declares his love and care for “Obama” instead of “Allah” on two seperate occasions in the same disjointed thought.

      Alone and still confused about why he is alone, and out of cash – he’ll retire to shack up with the one person left that appreciates all Bam ever did for him: Jimmy Carter.

      “Stoop labor is the essence of clean energy. Go green. Carpe diem!”

      Quoted for truth and with much love.

  3. heykev says:

    While I agree with Pro, most likely he will go out on the lecture circuit and speak to fellow communists.

    Once he does that for a year of so (he will make sure there are really good golf courses nearby and have them pay for his rounds while speaking there), he will take a job he’s eminently qualified for: running a Union.

    • proreason says:

      Once he has been evicted from office, people will be able to film him playing golf, and he will quit the game.

      I predict he will become a recluse.

  4. proreason says:

    As usual, Sowell makes the truth profoundly stark in about 500 words.

    “…Those who think that the stock-market crash in October 1929 is what caused the huge unemployment rates of the 1930s will have a hard time reconciling that belief with the data in that table.

    Although the big stock-market crash occurred in October 1929, unemployment never reached double digits in any of the 12 months after that crash. Unemployment peaked at 9 percent, two months after the stock market crashed — and then began drifting generally downward over the next six months, falling to 6.3 percent by June 1930.

    This was what happened in the market, before the federal government decided to “do something.”

    What the government decided to do in June 1930 — against the advice of literally a thousand economists, who took out newspaper ads warning against it — was impose higher tariffs, in order to save American jobs by reducing imported goods.

    This was the first massive federal intervention to rescue the economy, under Pres. Herbert Hoover, who took pride in being the first president of the United States to intervene to try to get the economy out of an economic downturn.

    Within six months after this government intervention, unemployment shot up into double digits — and stayed in double digits in every month throughout the entire remainder of the 1930s, as the Roosevelt administration expanded federal intervention far beyond what Hoover had started….”


    When the government does something right, it’s a near miracle. Why? Because the government has ONE SHOT AT IT, whereas the free market has thousands or millions of shots at it running concurrently.

    Moreover, when the government makes its inevitable mistake, the consequences are MASSIVE.

    Add on top the overwhelming criminality of politicians……who all are engorged with lust for power, money and prestige in the richest country, by far, that has ever existed…..and it should be clear to even the stupidest peon that the solution to all of the country’s problems is to put the reeking government out of business.

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