U.S. JOBLESS Claims Unexpectedly RISE

[Panaconda]

US jobless claims rise more than expected

Oct 14 09:18 AM

New claims for US unemployment benefits rose by 13,000 last week, more than experts expected, government data showed Thursday. Initial claims for the week ending October 9 rose to 462,000. That was well above the 450,000 claims expected by economists and the level needed to indicate falling unemployment.

"The gain put an end to two straight declines and reinforced that the labor market recovery is not going to come about quickly," said Andrew Gledhill of Moody's Analytics.

"As major companies finish their labor restructuring, many of the newly unemployed are coming from smaller businesses.

"This tends to cause more hardship on Main Street as many of these workers are unprepared for their job loss."

...

http://www.breitbart.com/article.php?id=CNG.7dc024dc93ee51753412b55b76d78116.111&show_article=1

US jobless claims rise
By Barry Grey
15 October 2010

The number of Americans filing first-time applications for unemployment benefits rose unexpectedly last week, the Labor Department reported Thursday. Jobless claims increased by 13,000 to 462,000 in the week ended October 9, confounding economists' projections that claims would hold at 445,000.

The four-week moving average of claims also rose, increasing to 459,000 from 456,750. It was the first rise in the four-week measure since the week ended August 21. Economists consider any figure above 400,000 indicative of an economy that is failing to generate sufficient jobs to reduce unemployment.

States and territories across the country reported an increase in newly unemployed filers, with 39 registering a rise and only 14 reporting a decline.

The jobless claims figures provide further evidence that the so-called recovery, which has overwhelmingly benefited corporate profits and the stock market rather than the working population, is faltering, while the Obama administration is taking no serious measures to address the worst jobs crisis since the Great Depression. They follow last Friday's disastrous employment survey for September, which reported a net drop in US payrolls of 95,000, the fourth straight monthly decline.

...

http://www.wsws.org/articles/2010/oct2010/econ-o15.shtml

[LiberalLoner]

1. Gee, the economy on main street isn't doing so well? REALLY? Whodathunkit? n/t

[villager]

2. Unexpectedly?

:shrug:

[Recursion]

3. Yes. Private sector jobs had been increasing

So it looks like the model said 12,000 or so of the new claimants would have gotten those jobs already.

[Panaconda]

4. What exactly are these

"private sector" jobs? Could you list what some of these positions are. Where are these jobs being created? What's the pay? The benefits?

[Recursion]

7. BLS doesn't break it down like that

But the data are there for anybody. We paid for the study, after all...

http://www.bls.gov/news.release/empsit.nr0.htm

[Panaconda]

10. It's okay

I already know as to how the pay is in the private vs. public sector job debate.

Studies tell little of the real stories of everyday people.

[Recursion]

12. Yeah, all that stupid "data". What a waste of time.

We should decide things based on anecdote and emotional reactions, you know?

[villager]

5. Really? Do you have a link for this "increase" in doubtless well-paying

replete-with-good-benefits boom in private jobs?

[Recursion]

6. Does nobody read news anymore?

http://www.kvue.com/video/featured-videos/Private-sector-jobs-increase-while-local-governments-lay-off-104604979.html

http://www.bls.gov/news.release/empsit.nr0.htm

(Note, this is the first private-sector job increase in a while. That's good news.)

doubtless well-paying replete-with-good-benefits

Sorry, you must be thinking of a different post, since I didn't say anything like that.

Basically: the private sector is beginning to add jobs again. We had hoped this would offset the layoffs from state and local governments somewhat. It's not doing that as much as we had hoped.

[villager]

8. Cruel September: 39,000 private sector jobs cut

http://www.dailyfinance.com/story/a-cruel-september-for-private-sector-jobs-with-39-000-cut/19662817/

Does nobody read news anymore?

[Edweird]

13. My reaction as well.

[LWolf]

16. My first thought, exactly. nt

[blindpig]

9. Good thing we got the WPA to fall back on....

oh wait....

[leftstreet]

11. Where are the 7 million 'green jobs?'

updated 2/13/2008 2:35:56 PM ET 2008-02-13T19:35:56

-WASHINGTON — Democrat Barack Obama said Wednesday that as president he would spend $210 billion to create jobs in construction and environmental industries, as he tried to win over economically struggling voters.

Obama's investment would be over 10 years as part of two programs. The larger is $150 billion to create 5 million so-called "green collar" jobs to develop more environmentally friendly energy sources.

Sixty billion would go to a National Infrastructure Reinvestment Bank to rebuild highways, bridges, airports and other public projects. Obama estimated that could generate nearly 2 million jobs, many of them in the construction industry that's been hit by the housing crisis.

http://www.msnbc.msn.com/id/23148959/

:shrug:

[maryf]

14. why am I not surprised?

and still enraged and saddened? Kick, sorry I missed this...

[onethatcares]

15. and President Obama is supposed to do what?

make available federal funds for employment?

What we have is corporations tossing America to the curb. Every corporate officer will tell you the main reason for their existance is to increase profits for their shareholders. Rising employment equals lower dividends so, why bother?

Our country is fucked, fucked up, fucked over and done.

I pity our grandkids that will never know the possibility of owning their own cars let alone their own homes.