Surprise! Jobless Claims Up 78,000 Week After Election; PA, OH Worst Hit

Discussion in 'Economy' started by longknife, Nov 15, 2012.

  1. longknife
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    longknife Platinum Member

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    The Department of Labor has announced that new jobless claims rose by a staggering 78,000 in the first week after the election, reaching a seasonally-adjusted total of 439,000. Over the past year, and in the weeks leading up to the election, jobless claims were said to be declining, dipping as low as 339,000, with the media proclaiming that they had reached the "lowest level in more than four years." Now, suddenly, the news seems far less rosy.

    From the Department of Labor press release this morning:

    In the week ending November 10, the advance figure for seasonally adjusted initial claims was 439,000, an increase of 78,000 from the previous week's revised figure of 361,000. The 4-week moving average was 383,750, an increase of 11,750 from the previous week's revised average of 372,000.

    Some of the new claims, especially in New Jersey, were due to Hurricane Sandy--but these were offset by a decline in claims filed in New York. The highest numbers of new filings came from Pennsylvania and Ohio, where there were thousands of layoffs in the construction, manufacturing, and automobile industries.

    Both states had been targeted by the presidential campaigns. President Obama highlighted his record of job creation in Ohio in particular, focusing on the automobile industry. The state reported 6,450 new jobless claims in the week after the election--second-highest after Pennsylvania, which recorded 7,766 new claims.

    I want to laugh and say, “I toldya so.” But it's really too sad.[/B :confused:
     
  2. waltky
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    waltky Wise ol' monkey Supporting Member

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    Granny wonderin' what her Halliburton stock doin'?...
    :eusa_eh:
    Stock Futures Flat After Jobless Claims Data
    11/21/12 --- U.S. stock futures were trading near the flat line Wednesday after domestic weekly initial jobless claims came in as expected and as discussions on Greece hit an impasse
     
  3. Trajan
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    Trajan conscientia mille testes

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    its to early to tell, the data will come out first Friday In December. they will have the manuf. sector no;'s specifically, we'll see.
     
  4. rdean
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    rdean rddean

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    From 2001 to 2008, Republicans, working with the Chamber of Commerce and funded by China helped move millions of jobs to China and close down tens of thousands of factories. Those jobs are gone. They won't be returning. Two weeks ago, they tried to elect a "pioneer of outsourcing" into office. A man who was moving one of his companies to China the very month of the election.

    Republicans ran on a platform of "Government Can't Create Jobs" and have stood in the way of every single thing this president has tried to do.

    But still, in spite of everything they have done to bring down the country, things are improving. It could be more, but Republicans aren't gonna let that happen. They have become a kind of "internal economic al Qaeda". Well, we are on to them. It's only a war when we fight back. And Democrats are "fighting back".
     
  5. Rozman
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    Rozman Gold Member Supporting Member

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    What a shock.....
    What the hell...
    As long as the Libs are happy and got Obama back in
    that's what's important.
     

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