Jobless claims rise unexpectedly

[OhioChick]

Source: AP

41 minutes ago

UNEMPLOYMENT CLAIMS RISE: New claims for jobless benefits rose last week by 18,000 to 460,000, the Labor Department said Thursday. Wall Street economists had expected a drop.

SEASONAL DISTORTIONS: The increase is a sign that jobs still remain scarce even as the economy recovers. Some of the increase may also have resulted from the Easter holiday, which a Labor Department analyst said is difficult to seasonally adjust for because it falls on different weeks each year.

TREND STILL DOWN: Claims have dropped in four of the past six weeks and economists say they are likely to soon resume their decline.



Read more: http://www.google.com/hostednews/ap/article/ALeqM5ibB1T32uocR1TZphpCm86L7PbHAQD9EV0HOG3

---

"Unexpectedly?"

[Warpy]

1. That was my question, too.

What's unexpected about it? The economy is still in shambles, money is still being sucked out of it by the banks, people are still so deep in debt that they're going to be paying it off for decades, making shopping sprees in the near future unattainable for most of them, and companies are still being rewarded at tax time for throwing Americans out of work and hiring people offshore.

Nothing has changed to improve the employment picture and it's certainly no surprise that it's getting worse out there.

[Clear Blue Sky]

17. Agree. No surprise at all.

[nbcouch]

27. no surprise indeed

Corporations will never make a concerted effort toward putting MORE people to work, even in the best of times. This trend has been clearly established over the last decade or so. The trend is toward fewer companies (M&A) employing fewer and fewer people, and squeezing more and more work, for less money usually, out of those they do employ. That's the natural evolution of a capitalist system, especially one with effective globalization, and the more we shy away from properly regulating and controlling capitalism, the more effects we are going to see from this trend.

In the news today is the negotiation taking place between US Air and United. If this deal goes down, you can bet the farm that it will result in (a) one less choice and therefore higher prices for the consumer, and (b) fewer people employed in the airline industry. You've noted another really pernicious effect of capitalism run wild, that is, capital flowing into regions of the world where labor is cheapest. That, of course, has been happening for multiple decades.

Why do the capitalists do this? Because they can. They've been allowed to make great strides toward eviscerating the middle class in this country, which suits them just fine because they don't need us - not in the absurd John Galt sense, but because they've got vastly larger middle classes emerging in Asia to sell to now. If nothing is done to stop this particular exploit, we here in America will, sooner or later, be the backwater that China and India once were.

[jtrockville]

41. It took WALL STREET by surprise. You know, the wizzes who...

would have taken down the world's financial markets if we hadn't bailed them out.

Jackasses.

[AllyCat]

67. +1

[rambler_american]

69. Ditto! n/t

[OregonBlue]

2. Actually the administration said last week it would rise. People who were discouraged will start

looking for work again therefore, they will start showing up in the numbers. It was repeated over and over all last week so no, it is not "unexpectedly" unless you're the idiots at AP.

[teknomanzer]

14. Exactly right...

this was predicted last week -- people are hearing that jobs are becoming available -- so discourage job seekers are back to looking. I guess the AP was out of the loop.

[OnlinePoker]

29. I believe this is new jobless claims

People newly laid off , not unemployment rate. They're different things. Workers rejoining the labor market would come under the monthly unemployment figures.

[jschurchin]

34. We have a winner.

It has NOTHING to do with people "looking for jobs".

[Jim Sagle]

61. People looking for ways to excuse this administration is more like it.

[destes]

63. Also, people who were recently discharged will be filling for unemployment benefits.

Employers are faced with continued poor business climates. They can relieve some of their cash flow concerns by eliminating their higher paid staff and replacing them with cheaper, yet equally qualified, personnel.

Obama apparently doesn't have the "political capital" to start new deal type programs. Thus higher new unemployment stats with no end in sight.

[ihavenobias]

3. It's amusing that someone cancelled out my rec.

I want to know if you (whoever you are) think that by unrecing this thread it makes the information less true? Or do you think that when you unrec, you create new jobs?

;)

[ChromeFoundry]

4. +1 same here. n/t

[elocs]

5. Congratulations for bringing an UnRec to everyone's attention that would have gone unnoticed.

I'm sure they appreciate the attention.

Here's a possibility: sometimes people actually do hit the wrong choice.

[democraticinsurgent]

6. i have done it by accident

and it appears to be unretrievable. hey skinner, how about an undo button on unrec?

[elocs]

7. It's too bad it's not like voting in a poll where you confirm your choice.

That would be an easy fix.

[democraticinsurgent]

16. agreed

i was pretty embarrassed to unrec that thread, since i was actually trying to recommend it. ;-)

[Capitalocracy]

42. maybe people wouldn't bother

having to click twice might surprisingly reduce the number of people who bother to do it

[girl gone mad]

55. I also think it should be reversable.

I've made the same mistake many times.

[RedCloud]

8. I don't usually rec so I have restored your rec with mine!

[Turbineguy]

28. Maybe

they just want to kill a kitten.

[kelly1mm]

39. No, not creating new jobs but maybe keeping their own job

if you know what I mean....

[Capitalocracy]

40. Clicking Unrec creates jobs? UNREC EVERYBODY! QUICK!

:think:

[HughMoran]

46. WOOHOO!! Unreccing creates jobs!

[Skittles]

47. it's the bots

[Lerkfish]

9. kinda kicks the increased number of jobs figure last week in the ass, doesn't it?

[No Elephants]

11. LOL. I was typing Reply # 10 while you posted this.

[defendandprotect]

33. My sister in California just wrote that her son had been laid off . . .

and a Federal/government job he was hoping for is "frozen."

If we want to refill the Treasury, we need jobs --

not thru corporations, but thru investment in industry -- like MEDICARE FOR ALL --

and green energy alternatives. Loans for small businesses -- and I don't think banks

are helpful there, either?

We also need SUPERFUND to help the homeless and the unemployed --

and fewer Repugs in Congress, folks!!!

Any chance we could get "Doc" Coburn out of there -- he's voting against health care of

any kind -- and against extending unemployment insurance for those out of work!!

[JoePhilly]

13. Not really ... not if you look at the jobs trend, starting in Dec 2007 to NOW

[Lerkfish]

15. do you have a link that shows that, exactly?

how does 160K beat 490K?

[No Elephants]

10. Even with the census workers?

Seriously, you didn't believe the rosy new jobless claims info of a week or so did you? They've done this over and over. Put out some news that looks good (if you don't think about it) and then release bad info. At this point, I wouldn't believe any of it.

New England had a horrific blizzard in 1978. And, as people were unable to get food, fuel, insulin, etc., another snowfall was predicted. No mention of it in Massachusetts, though. However, weathermen told people in Texas, "Massachusetts is will be getting another snowstorm, but y'all don't tell your friends there because they're not supposed to know."

If they'll censor a weather report......

BTW, I'm sure this unemployment thread bears no relation to the thread about Geithner protecting Indian workders from American "protectionism." http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x4335782

Maybe Indian workers should pay Geithner's salaries. You know, since they have American outsourced jobs and all?

[harkadog]

12. Maybe we should put Geithner on an Indian wage scale.

[hayu_lol]

18. Recovery?

Recovery=DEPRESSION

Stocks are gaining. Banks are recovering. Corporations are mostly still in business, just not here. Workers are still out of work.

It's a DEPRESSION stupid.

[billymayshere]

43. No need to

Temmeh just gave the Indians the nudge nudge wink wink treatment yesterday about H1b's. Pretty soon we will all be working for Indians wages, that has been the plan all along.

[Donnachaidh]

53. oh YEAH [phone] totally agree!

And add Summers while you're at it.

[Dr.Phool]

58. Better yet, outsource his job.

I'm pretty sure that they can get someone just as stupid for Indian minimum wage!

[fan of the arts]

19. That won't stop the big firms from manipulating the markets

and continuing with their massive frauds regarding all their "investments" such as falsely inflated commercial real estate and junk bonds based on just about anything a person can think of. But hey, if a person is a good propaganda reading and believing citizen of the homeland, such person can spew how the DJIA being up is a sign that the entire economy isn't a fraud.

[Yavin4]

20. A Big Employer in my Industry Just Announced A New Round of Layoffs This Morning

After a relatively calm period of no layoffs, this happens.

[leeroysphitz]

21. If jobs remain scarce then the economy is not recovering.

Claims to the contrary are lies and propaganda. Even from the current administration.

[elleng]

22. Smart ones did NOT expect a drop, but an increase

because things are looking up, causing those FORMERLY seeking benefits to begin looking for jobs again. Conterintuitive?

[No Elephants]

25. Those collecting unemployment do not stop collecting simply bc they are looking for a job.

They continue to collect until they find a job (and thereore are not unemployed any longer) or until their benefits run out. (The latter is one of the reasons we can't measure unemployment simply by counting those collecting unemployment, or measure the health of the economy only by new claims for unemployment.)

Besides, I always thought those collecting unemployment were obligated to be seeking a job while collecting.

[elleng]

26. 'New' filers were no longer counted, had lost eligibility and/or quit looking.

[DesertFlower]

23. the other day when i did my food shopping

there were only 2 people working in the cold cut department. the week before it was 5. i asked "where is everyone"? the woman responded "when the weather gets warm they cut back hours". i'm in phoenix. we have a lot of snow birds. this is the time of year when they leave.

[protest_dude]

24. The answer is simple...

The answer is simple: FIGHT BACK!

If you want unemployment to be curbed, fight for it.

In the Great Depression the Unemployed Councils force the government to create a massive jobs program.

We've got to get together and fightback.

There isn't a Republican Agenda, a Democrat Agenda, a Tea Party agenda, etc.:

There are only two agendas

1. The agenda of the capitalists, to suck as much wealth out of us as possible and make us pay for their mistakes.

2. The people's agenda of resistance and winning concessions.

March for Jobs! Fight for jobs! Win Jobs for all!

http://www.bailoutpeople.org

The people above seem to be forging a way to win jobs.

[No Elephants]

31. AGREE and that looks like a really cool organization. Thanks for the link.

[defendandprotect]

35. There's also a UNION NOW FOR UNEMPLOYED --- HERE . . .

There are one or two where unemployed are being signed up -- united --

and that's the way to go --


HERE IT IS . . .

http://www.unionofunemployed.com/

[fasttense]

64. A march on DC May 8th. A perfect thing to do, especially if you don't have a job. n/t

[Donnachaidh]

65. do you have links for info on the march? n/t

[protest_dude]

71. Yes...

http://www.bailoutpeople.org/#may8

[Paladinette]

30. NEW Call- in RADIO SHOW: Jobless Talk

I am a very active and strong advocate for the US jobless and I go by the name of Paladinette in the blogosphere.
I now have my own call in Radio Show called JOBLESS TALK which premiered April 7th 2010. I need callers to
vent (politely) their disgust with Washington over ignoring the millions of long term unemployed.

Here is the link to my next call in radio show: http://www.blogtalkradio.com/paladinette/2010/04/13/job... Upcoming Show: 4/13/2010 12:00 PM
Call-in Number: [phone]

This press release has all the info on the show and how to call in: http://www.free-press-release.com/news-paladinette-now-...


Show on April 16th link: http://www.blogtalkradio.com/paladinette/2010/04/16/job...
Guest congressional candidate Bill Lussenheide CA 45th district running against Mary Bono

[Odin2005]

32. Where are the cheerleaders now?

[BootinUp]

38. I guess you missed the trend part. nt

[prolesunited]

45. Well, you're so busy cheering for failure

somebody has to balance it out.

[Skittles]

48. no one is cheerleading for failure

they're cheerleading for TRUTH

[SpartanDem]

49. Celebrating bad economic news how teabaggerish

the fact remains the even accounting for the census job the economy created 100,000+ jobs last month

[harkadog]

51. And 150,000 a month is needed just to keep upo with population growth.

[Hosnon]

68. Right here.

Based on this graph, a spike on the way down can be expected.

[JackRiddler]

36. Correction, it should read: Jobless claims rise "unexpectedly"

Long ago I learned that a major Western economy can only ever exist in one of two allowable states:

a) "It's not a recession yet."

b) "The recovery is underway."

[Taverner]

37. Predictable: this is when the companies know its going to be rough for 10+ years

And they are cutting what they can to show "growth"

[swag]

44. Seasonal blip, holiday impacts. Why is this the top story on the front page?

http://www.ritholtz.com/blog/2010/04/initial-jobless-claims-spike-but-holidays-impacted-seasonals/

[Synicus Maximus]

50. Let me understand.. If there are more unemployed it is good because

it means more people are looking for work. And if there are less unemployed it is good because more people have found jobs. Seems like a win win to me.

[bondwooley]

52. Just because we're unemployed doesn't mean we can't still live like Americans!

All we have to do is use that extra free time (that comes with being jobless) to make the luxury items we used to go out an buy.

Here's a useful instructional video to get started!

http://bit.ly/ozqT6

OK, it's satire, but maybe you'll get a laugh...

[IDemo]

54. "even as the economy recovers"...

"Even as winged pigs expected soon; experts advise flying pigs likely before end of year."

[lonestarnot]

56. nother bummer.

[unkachuck]

57. "...jobs still remain scarce..."

....instead of creating good-paying government jobs with our recovery dollars, our corporate Dems placed our last recovery trillion in the pockets of their corporate buddies and wall street....

....now, November is fast approaching and still we have no jobs....what shall we do, what shall we do?

....I suggest sending tiny-tim, rahmbone and the wall-street-gang to wall street with their tin cups, to beg....

[Dr.Phool]

59. 11.5 billion dollar DECREASE in consumer credit.

Versus 500 million dollar expected increase.

Yep, things are sure picking up. All those unemployed consumers are just jumping at the chance to run up their credit cards.

[scentopine]

60. Just wait until those tax credits kick in - zoom, to the moon!

Do I really need the sarcasm thingy?

[Canuckistanian]

62. Wall St. economists seem to be suprised quite often

It's probably because real life doesn't seem to conform with their Friedman-based monetarist models.

[newtothegame]

66. It's aaallllllllllllllllll part of the chess game folks. nt

[SOS]

70. "Wall Street economists had expected a drop."

Are these the same geniuses who said CDOs were a safe, innovative way to spread risk?
In a related news story, Wall Street economists expect leprechauns to ring the opening bell on Monday.