More bad news

Discussion in 'Economy' started by asterism, Apr 28, 2011.

  1. asterism
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    asterism Congress != Progress

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    April is turning out to be the cruelest month for jobless claims.


    New filings for jobless benefits unexpectedly jumped 25,000 in the April 23 week. The increase could hint that businesses are cutting labor costs to offset the prolonged surge in raw-material costs. But the strength of the U.S. recovery — which slowed in the first quarter — is highly dependent on stronger job growth.

    New filings for jobless benefits were in a steady decline since August. But after falling to as low as 385,000 in the April 2 week, they have taken a turn in the wrong direction. New claims have been above 400,000 for three weeks in a row.

    [​IMG]

    Rise in Jobless Claims Bears Watching - Real Time Economics - WSJ
     
  2. waltky
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    waltky Wise ol' monkey Supporting Member

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    Obama havin' problems gettin' it up - growth that is...
    :eusa_eh:
    High gas, food costs grind back growth
    Thursday, April 28, 2011 - State budget cuts also nick recovery
    See also:

    Pessimism on economy puts a crimp in Obama's campaign
    04/29/11 - Pessimism over the nation’s economy is hampering President Obama’s efforts to build momentum for his reelection campaign.
     
  3. waltky
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    waltky Wise ol' monkey Supporting Member

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    Shoulda put that bank bailout in the unemployment fund...
    :confused:
    Strapped states trying to trim jobless benefits
    22 May`11 WASHINGTON — To save money, cutting the length of time that payments are offered
     
  4. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    Worst Recovery EVAH, courtesy of Obamanomics.
     
  5. william the wie
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    william the wie Gold Member

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    Don't disagree with the first part but since Obama left most of the Bush economic team in charge the second part I find dubious. The last president to endorse free markets with actions was probably Cleveland. Obama is no worse than Bush the elder at screwing up the economy just in a much worse situation with the EU and Far East bubbles ready to pop.
     
  6. rightwinger
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    rightwinger Paid Messageboard Poster Gold Supporting Member Supporting Member

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    Unemployment falls in 39 states in April; jobs added in 42 - USATODAY.com

    The Labor Department said Friday that the unemployment rate dropped in 39 states in April from a month earlier. That's an improvement from March when 34 states had reported decreases. The rate rose in three states and the District of Columbia. It was unchanged in eight states.

    Employers added workers in 42 states. Only eight states and the District of Columbia lost jobs last month.

    Nationally, businesses have added more than 250,000 jobs per month, on average, in the past three months
     
  7. B. Kidd
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    B. Kidd Gold Member

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    When do you see these bubbles popping?
     
  8. Jessica Blume
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    Jessica Blume Took the RED pill.

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    Gas is not going up as much as the dollar just loses its purchasing power. The dollar is just measured against the Euro and other competing world fiat currencies. When they say the dollar is up against the Euro, it isn't really worth anything more than it was before. It just has not been devalued as much as the fiat currency it is compared to.
     
  9. sparky
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    sparky VIP Member

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    watch that fine print....>
    Table A-12. Unemployed persons by duration of unemployment

    Footnotes
    (1) Beginning in January 2011, this series reflects a change to the collection of data on unemployment duration
     
  10. pinqy
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    pinqy Gold Member

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    Yeah, the change was that on the old questionairre, the max length of unemployment you could enter was 2 years, effectively making the category "2 years or more." Now, it's up to 5 years. The ONLY thing this change affected was the mean duration (making it longer). It didn't change the median or anything else. Definitely an improvement given that during the recession and post recession, duration of unemployment was much longer than historically.
     
    Last edited: May 24, 2011

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