Unemployment Benefits Rise as Job Growth Falters

[OhioChick]

Published: Thursday, 21 Jul 2011 | 8:40 AM ET

New U.S. claims for unemployment benefits rose more than expected last week, a government report showed on Thursday, pointing to a labor market that is struggling to regain momentum after job growth faltered in the last two months.

Initial claims for state unemployment benefits increased 10,000 to a seasonally adjusted 418,000, the Labor Department said.

Economists polled by Reuters had forecast claims rising to 410,000. The prior weeks figure was revised up to 408,000 from the previously reported 405,000.

The claims data covered the survey period for the closely watched nonfarm payrolls count for July. Initial claims dropped 11,000 between the June and July survey periods, suggesting a modest improvement in payrolls after Junes paltry 18,000 gain.

More: http://www.cnbc.com/id/43837880

[jtuck004]

1. It gets worse. The majority of states borrow from the government to pay

this, which becomes a debt to all the people there. The thought is that typical state revenues will be enough to pay back the loan and interest.

But this ain't your momma's is a deep recession which may see worsening conditions.

If revenue doesn't keep up, they have to pay that instead of something they used to pay for, or maybe even lay a new tax on someone
to pay it back, here.

A protracted problem that will last as long as unemployment is high, which could be a decade or longer without a jobs program.

[bvar22]

2. Unemployment "benefits" have NOT risen.

Claims have,
but NOT benefits.

[pscot]

3. What he said.

[JohnWxy]

4. what we need is more tax cuts for the wealthiest 5% of the country, of course we can't afford

to extend unemployment insurance then.