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Surprise! New Unemployment Claims Are Up

From a perpetually caught off guard Reuters:

Jobless claims post surprise rise

By Jason Lange
September 15, 2011

WASHINGTON (Reuters) – New jobless claims rose last week to their highest since June and a gauge of New York State manufacturing contracted in September, sustaining the view the Federal Reserve could take new action to boost growth.

At the same time, consumer prices rose a surprisingly steep 0.4 percent in August, slowing only slightly from the previous month’s rate.

We believe the technical term for this is ‘stagflation.’

The number of Americans filing new claims for jobless benefits rose unexpectedly to 428,000 in the week ending September 10, the Labor Department said on Thursday.

This is the obvious lead. But here it’s the third paragraph. By the way, Reuters neglects to mention it, but as usual, last week’s already bad numbers were revised up still further. From 414,000 to 417,000.

It was the second straight week in which claims rose. Wall Street analysts expected a modest dip in new claims…

"Overall we see that activity is slowing down," said Michelle Meyer, an economist at Bank of America Merrill Lynch in New York. "But we haven’t slipped into a recession yet."

We take it Ms. Meyer is one of those perpetually wrong Wall Street analysts.

But notice that they don’t even blame the Japanese earthquake. It almost sounds like they are giving up.

This article was posted by Steve on Thursday, September 15th, 2011. Comments are currently closed.

8 Responses to “Surprise! New Unemployment Claims Are Up”

  1. GetBackJack says:

    The way the Obama Administration is killing jobs is starting to look a lot like Stalin going after Ukrainian farmers.

  2. untrainable says:

    These unemployment claims obviously went up because of the aftermath of the earthquake in VA (artificially engineered by Sarah Palin), and the hurricane (which was obviously George Bush’s fault). The only other explaination would be that the private sector is finally cutting loose all the racists in their midst. That said, I’m sure that women, children, and minorities are hurt the most… somehow.

    • Rusty Shackleford says:

      I’m thinking it’s the republicans in the workplace who are preventing employers from hiring. That can be the only reason. Everyone knows that the republicans are against this administration succeeding.

      But then, the definition of “succeed” is a floating variable in the statists’ vocabulary.

    • proreason says:

      Rusty may have hit it.

      Millions of Republicans are voluntarilly staying unemployed just to be racist. They are losing their homes, their cars, and the future of the children, but they are getting Obamy good. And that is what they want more than anything.

      Straight up.

    • GetBackJack says:


  3. JohnMG says:

    Unexpectedly?! How can that be, in view of the last two years’ track record of upwardly-adjusted bad news following each reporting period? I fully expect every reported statistic to be nudged upward around one week from the time first reported.

    What would be unexpected, would be if the numbers were actually correct, or were revised downward. THAT would be ‘change I could believe in’, not this other rubbish being peddled by this turd-merchant and his enablers.

  4. mathews says:

    Reuters removed ‘surprise’ from the headline, but surprise is still in the URL

  5. sticks says:

    How can I get a job as a Wall Sreet analyst? I’m sure they get paid much more than I do and they don’t even have to be right…ever.

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