Jobless Claims in U.S. Unexpectedly Increase as Dismissals Remain Elevated

[marmar]

More Americans Unexpectedly File Claims for Jobless Benefits
By Timothy R. Homan


May 20 (Bloomberg) -- More Americans unexpectedly filed applications for unemployment benefits last week, showing firings remain elevated even as employment climbs.

Initial jobless claims rose by 25,000 to 471,000 in the week ended May 15, exceeding the median forecast of economists surveyed by Bloomberg News and the highest level in a month, Labor Department figures showed today in Washington. The number of people receiving unemployment insurance and those getting extended payments fell.

Some companies are trimming payrolls to boost or maintain profits, even as employers have added jobs each month this year. Unemployment may take time to recede as more jobseekers enter the workforce and fail to find work.

“Claims remain uncomfortably high,” Aaron Smith, a senior economist at Moody’s Economy.com in West Chester, Pennsylvania, said before the report. “The improvement in continuing claims has slowed noticeably.”

Applications were projected to drop to 440,000 from 444,000 initially reported for the prior week, according to the median forecast of 44 economists in a Bloomberg survey. Estimates ranged from 425,000 to 448,000. The Labor Department revised the prior week’s figure up to 446,000.

There were no special factors behind the jump in claims last week, a Labor Department spokesman said. .........(more)

The complete piece is at: http://www.bloomberg.com/apps/news?pid=20601087&sid=aHZth4tfWaeA&pos=1

[Lerkfish]

1. "unexpectedly"?

open a window. Walk down the street.

[dmallind]

2. You can tell initial claims by opening a window? How?

How do you know people you see are filing new claims? Could they not be continuing cliams, or have run out of benefits, or be workers on other shifts? Personally I prefer data.

[DemocratSinceBirth]

3. Well

In this case the empirical reinforces the anecdotal.

[dmallind]

19. Really? Where's the empirical on new hires for this week? New claims only half the story. NT

[Lerkfish]

4. speaking metaphorically.

[marmar]

5. I got it.....I don't know why your post came under attack.

nt

[Lerkfish]

6. no worries, its happening a lot lately

sorry it is derailing your thread.

[DemocratSinceBirth]

9. We Might Be Experiencing A Lost Decade Much Like The Japanese In The Nineties

I believe unacceptably high unemployment with all the real pain and hardship that accompanies it will be a staple of American life.

[Lost4words]

8. You might not want to put too much stock in Government Released Data

truth is the federal governments enemy, you wont be getting much truth but lots and lots of truthieness!

[dmallind]

18. Sure...I'll just base my opinion of national aggregates on local Ocular Fenestration Models. NT

[Lerkfish]

20. ok

[dmallind]

21. OK

[tom_paine]

7. That's just Corporate M$M propaganda boilerplate - ALL economic bad news is "unexpected"

these days.

What is most astonishing to me is the many MANY ways (this being only one o fthem) that US Corporate M$M now resembles 1975 Soviet Media.

[undeterred]

10. If they were "fired" they wouldn't be eligibile for unemployment benefits.

[DemocratSinceBirth]

11. That's The Only Way You Get Unemployment Benefits

If you were fire or ""laid off".

[Lerkfish]

12. yup, quitting, even under duress, is not a situation where you can receive benefits

and there a lot of us out there.

[DemocratSinceBirth]

14. You Have A Shot If You Can Prove You Quit Under Duress

I did but I also had a psychiatric evaluation to back me up.

[Lerkfish]

16. I tried

I was asked to fake testimonials on website that sold a product, quit the next day... the unemployment office said that since I didn't stick around and try to change the situation I didn't qualify.

there were other reasons for quitting, btw, like rubber paychecks, but that was the last straw, for me. Unfortunately I had no way to provide evidence once I was out the door.

[uberblonde]

17. Depends on which state you're in.

In many states, you can quit under hostile working conditions and get unemployment. Even in the states where you can't, you can still file a civil suit for what they call "constructive discharge" -- that is, when they obviously tried to force you out.

Some states are known for weighing decisions in favor of the employees, and some for the employer.

[tonysam]

26. Most of the time employment agencies side with employees.

It was a no-brainer with me since the district was the one which committed the misconduct, and it NEVER, EVER challenged my claim.

[undeterred]

23. "Fired" implies wrongdoing on the part of the employee.

Fired employees are not eligible for unemployment compensation.

[tonysam]

25. WRONG. You don't know the law.

I was "fired" but I received it and discovered my state's UI department gets a lot of cases like mine.

It is "gross" misconduct such as stealing or other criminal acts that will disqualify people who are fired.

[tonysam]

24. Yes you can get it for being "fired" apart from GROSS misconduct

such as stealing, etc. I know from experience.

It's quitting your job or resigning that typically disqualifies someone from receiving UI except in rare circumstances.

[AngryAmish]

13. We are pretty near a depression - none of this is unexpected

THe economy is in the toilet and we don't know how to get it out. Do we re-inflate the housing bubble? Do we allow housing prices to fall ( a lot) to market-clearing level? We lack the knowledge and the stones to do anything that may hurt more in the short term and cure the problem long term.

[tonysam]

27. +1,000

And Congress acts like there is no problem.

[CoffeeCat]

15. "Dismissals" Interesante...

"Dismissal." Isn't that what happens to students, when the bell rings
and they get to go home?

Really enjoying the euphemisms associated with the global economic collapse.

[fasttense]

22. So, I guess that meme that "all the long term unemployed

were suddenly going back into the job market and an increase in unemployment really doesn't mean an increase in employment" just doesn't hold water anymore.

"There were no special factors behind the jump in claims last week, a Labor Department spokesman said."

Just another RepubliCON Jobless Recovery where the unemployed are so unimportant to America that the economy can have a recovery without them. :eyes:

[Gin]

28. to get an extension...you have to reapply....didnt the last extension

happen last month and if so, are those numbers counted?