Unemployment Insurance Weekly Claims Report (09/15/2011)

[mahatmakanejeeves]

Source: Employment and Training Administration, Department of Labor

UNEMPLOYMENT INSURANCE WEEKLY CLAIMS REPORT

SEASONALLY ADJUSTED DATA

In the week ending September 10, the advance figure for seasonally adjusted initial claims was 428,000, an increase of 11,000 from the previous week's revised figure of 417,000. The 4-week moving average was 419,500, an increase of 4,000 from the previous week's revised average of 415,500.

The advance seasonally adjusted insured unemployment rate was 3.0 percent for the week ending September 3, unchanged from the prior week's unrevised rate.

The advance number for seasonally adjusted insured unemployment during the week ending September 3 was 3,726,000, a decrease of 12,000 from the preceding week's revised level of 3,738,000. The 4-week moving average was 3,741,000, an increase of 1,250 from the preceding week's revised average of 3,739,750.

Read more: http://www.dol.gov/opa/media/press/eta/ui/eta20111330.htm

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Up again this week, another 11,000 from last week's revised figure. Not good.

[dkf]

1. Jobless Claims, Inflation Rise, Manufacturing Gets Weaker

Applications for unemployment benefits continued to rise in the past week, while inflation pushed higher and a key manufacturing index weakened.

The weekly jobless claims number, which is closely watched as an indicator for employment trends, unexpectedly rose 1,000 to 428,000, well ahead of expectations of 411,000.

The consumer price index, meanwhile, gained 0.4 percent when including volatile food and energy prices. The so-called core CPI, though, gained 0.2 percent, which was in line with expectations.

Another indicator also was not encouraging: New York manufacturing activity contracted in September for the fourth consecutive month.

http://m.cnbc.com/breaking_news/44532025/1

[riverwalker]

2. Neal Boortz, RW talker "don't hire longterm unemployed"

Last night Neal Boortz, conservative RW radio talker was on a rant about the unemployed. "If you are out of work for 6-9 months, something is wrong with your work ethic". "I would not hire anyone out of work for that long and neither should anyone else." "There are guys at my golf club who own temporary work agencies and they can't get enough help who want to work, there are plenty of jobs out there."
I don't have a link, I was listening on my commute, nearly drove off the road.:mad:

[Mr Gerrity]

3. How nauseating !!! n/t

[MrNJ]

4. Welcome to the permanent recession.

Sure am glad that the tax cut was extended
:sarcasm:

[Beacool]

5. The Huff uses that word again: "unexpectedly"

Jobless Claims Unexpectedly Rise To 428,000 As Labor Market Stalls

WASHINGTON - The number of Americans filing new claims for jobless benefits rose unexpectedly last week in a sign concerns about a weak economy were sapping an already beleaguered labor market, data showed on Thursday.

Applications for unemployment benefits climbed to 428,000 in the week ending September10 from an upwardly revised 417,000 the prior week, the Labor Department said.

It was the second straight week in which claims rose. Wall Street analysts had been looking for a dip to 410,000.

Excluding one week in early August, claims have held above 400,000 since early April. A Labor Department official said there was no discernible effect from Hurricane Irene or other storms in the national reading.

http://www.huffingtonpost.com/2011/09/15/jobless-claims-rise-to-428000-credibility-recession-fears_n_963837.html

What's unexpected about it when large sums of unemployed people have become the new normal?

:banghead: