STupid mother fucker -- Go back and study the 1930's when they printed and spent and it didn't do any good. Stupid dumb shits in the white house. Get these mother fuckers out of there.
Continuing claims climb 110,000 to record 6.79 million
Story Comments (45)
Alert Email Print<SCRIPT src="http://w.sharethis.com/button/sharethis.js#publisher=b1f6011c-ea44-4541-b0b6-e731f2789411&type=website&buttonText=Share&style=rotate&send_services=&post_services=facebook%2Cdigg%2Cdelicious%2Cybuzz%2Ctwitter%2Cstumbleupon%2Clinkedin%2Creddit%2Ctechnorati%2Cmixx%2Cblogger%2Ctypepad%2Cwordpress%2Cgoogle_bmarks%2Cwindows_live%2Cfark%2Cpropeller%2Cnewsvine&linkfg=%232d317a" type=text/javascript></SCRIPT> Share<!--<for each="var content in flow.Content"> <if condition="content is Paragraph"> #var paragraph = content as Paragraph; <for each="var chunk in paragraph.Chunks"> <if condition="chunk is TextChunk"> #var textChunk = chunk as TextChunk; <if condition="paragraph.Type == ParagraphType.Headline"> #//<set headline="textChunk.Text.Value" /> </if> <else if="paragraph.Type == ParagraphType.Headline2"> #//<set headline2="textChunk.Text.Value" /> </else> </if> </for> </if> </for>--> By Rex Nutting, MarketWatch
WASHINGTON (MarketWatch) -- The number of new layoffs declined by 13,000 to 623,000 last week, while the number of people collecting state unemployment benefits rose by 110,000 to a record 6.79 million, the Labor Department reported Thursday.
The decline in initial jobless claims was in line with expectations of economists surveyed by MarketWatch.
Initial jobless claims have been buffeted in recent weeks with massive layoffs related to plant shutdowns at Chrysler, but no unusual auto-related layoffs were noted by any states last week.
The four-week average of new claims -- which smoothes out distortions in the week-to-week data caused by weather, holidays, strikes and the like -- fell by 3,000 to 626,750 in the week ending May 23.
Initial claims for the week ending May 16 were revised up by 5,000 to 636,000.
Initial claims for unemployment benefits are down about 50,000 from the peak reached two months ago, but remain extremely elevated, consistent with an economy that has lost an average of net 665,000 jobs per month this year.
In the past 52 weeks, initial claims are up 67% and continuing claims are up 116%.
Meanwhile, the number of people collecting state unemployment benefits rose by 110,000 to 6.79 million in the week ending May 16. Another 2.2 million are collecting extended federal benefits, which kick in once a person has exhausted eligibility for the state checks, usually after six months.
The federal program is part of the Obama stimulus plan passed by Congress.
The four-week average of continuing claims increased by 123,750 to 6.61 million.
The insured unemployment rate -- the proportion of insured workers who are collecting benefits -- rose a tenth to 5.1%, the highest since December 1982.
The data come from state unemployment offices' reports on actual filings, not a statistical sample.
Initial claims represent job destruction, while the level of continuing claims indicates how hard or easy it is for displaced workers to find new jobs. The jobless claims report shows businesses are laying off workers at a rapid pace, and finding a replacement job is ever harder for those who've lost work.
Benefits are generally available for those who lose their full-time job through no fault of their own. Those who exhaust their unemployment benefits are still counted as unemployed if they are actively looking for work.
In a separate report, the Commerce Department said orders for durable goods rose 1.9% in April, the biggest increase since the recession began in December 2007. However, orders for capital equipment fell 1.5%, signaling continued weak capital spending by businesses.
Continuing claims climb 110,000 to record 6.79 million
Story Comments (45)
Alert Email Print<SCRIPT src="http://w.sharethis.com/button/sharethis.js#publisher=b1f6011c-ea44-4541-b0b6-e731f2789411&type=website&buttonText=Share&style=rotate&send_services=&post_services=facebook%2Cdigg%2Cdelicious%2Cybuzz%2Ctwitter%2Cstumbleupon%2Clinkedin%2Creddit%2Ctechnorati%2Cmixx%2Cblogger%2Ctypepad%2Cwordpress%2Cgoogle_bmarks%2Cwindows_live%2Cfark%2Cpropeller%2Cnewsvine&linkfg=%232d317a" type=text/javascript></SCRIPT> Share<!--<for each="var content in flow.Content"> <if condition="content is Paragraph"> #var paragraph = content as Paragraph; <for each="var chunk in paragraph.Chunks"> <if condition="chunk is TextChunk"> #var textChunk = chunk as TextChunk; <if condition="paragraph.Type == ParagraphType.Headline"> #//<set headline="textChunk.Text.Value" /> </if> <else if="paragraph.Type == ParagraphType.Headline2"> #//<set headline2="textChunk.Text.Value" /> </else> </if> </for> </if> </for>--> By Rex Nutting, MarketWatch
WASHINGTON (MarketWatch) -- The number of new layoffs declined by 13,000 to 623,000 last week, while the number of people collecting state unemployment benefits rose by 110,000 to a record 6.79 million, the Labor Department reported Thursday.
The decline in initial jobless claims was in line with expectations of economists surveyed by MarketWatch.
Initial jobless claims have been buffeted in recent weeks with massive layoffs related to plant shutdowns at Chrysler, but no unusual auto-related layoffs were noted by any states last week.
The four-week average of new claims -- which smoothes out distortions in the week-to-week data caused by weather, holidays, strikes and the like -- fell by 3,000 to 626,750 in the week ending May 23.
Initial claims for the week ending May 16 were revised up by 5,000 to 636,000.
Initial claims for unemployment benefits are down about 50,000 from the peak reached two months ago, but remain extremely elevated, consistent with an economy that has lost an average of net 665,000 jobs per month this year.
In the past 52 weeks, initial claims are up 67% and continuing claims are up 116%.
Meanwhile, the number of people collecting state unemployment benefits rose by 110,000 to 6.79 million in the week ending May 16. Another 2.2 million are collecting extended federal benefits, which kick in once a person has exhausted eligibility for the state checks, usually after six months.
The federal program is part of the Obama stimulus plan passed by Congress.
The four-week average of continuing claims increased by 123,750 to 6.61 million.
The insured unemployment rate -- the proportion of insured workers who are collecting benefits -- rose a tenth to 5.1%, the highest since December 1982.
The data come from state unemployment offices' reports on actual filings, not a statistical sample.
Initial claims represent job destruction, while the level of continuing claims indicates how hard or easy it is for displaced workers to find new jobs. The jobless claims report shows businesses are laying off workers at a rapid pace, and finding a replacement job is ever harder for those who've lost work.
Benefits are generally available for those who lose their full-time job through no fault of their own. Those who exhaust their unemployment benefits are still counted as unemployed if they are actively looking for work.
In a separate report, the Commerce Department said orders for durable goods rose 1.9% in April, the biggest increase since the recession began in December 2007. However, orders for capital equipment fell 1.5%, signaling continued weak capital spending by businesses.