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In the week ending Feb. 28, the advance figure for seasonally adjusted initial claims was 639,000, a decrease of 31,000 from the previous week's revised figure of 670,000. The 4-week moving average was 641,750, an increase of 2,000 from the previous week's revised average of 639,750.
WASHINGTON The number of new jobless claims and the total number of people receiving unemployment benefits both dropped more than expected last week, though they remain at elevated levels and are unlikely to fall substantially in the coming months.
Few economists expect a turnaround in the battered labor market anytime soon with companies laying off thousands of workers weekly.
Still, the tally of initial requests for unemployment benefits fell to 639,000 from the previous weeks figure of 670,000, the Labor Department said today. Analysts expected a smaller drop to 650,000.
8.1% unemployment anybody?
You know the old saying, Jill.
A decrease of 31,000 from the previous week's revised figure of 670,000 does not a summer make.
8.1% unemployment anybody?
You know the old saying, Jill.
A decrease of 31,000 from the previous week's revised figure of 670,000 does not a summer make.
No kidding.
I hope the stimulus money does some good but my gut says it's going to get worse before it gets better.
If I lose my job I will either join the Marines or go home and help out there so I will be ok, but so many folks are going to be screwed if they lose their jobs. I pray for this to get better soon.
So maybe there's something to this stimulus thing saving jobs....
In the week ending Feb. 28, the advance figure for seasonally adjusted initial claims was 639,000, a decrease of 31,000 from the previous week's revised figure of 670,000. The 4-week moving average was 641,750, an increase of 2,000 from the previous week's revised average of 639,750.
ETA Press Release: Unemployment Insurance Weekly Claims Report
WASHINGTON — The number of new jobless claims and the total number of people receiving unemployment benefits both dropped more than expected last week, though they remain at elevated levels and are unlikely to fall substantially in the coming months.
Few economists expect a turnaround in the battered labor market anytime soon with companies laying off thousands of workers weekly.
Still, the tally of initial requests for unemployment benefits fell to 639,000 from the previous week’s figure of 670,000, the Labor Department said today. Analysts expected a smaller drop to 650,000.
New jobless claims unexpectedly drop to 639,000 | Freep.com | Detroit Free Press
So maybe there's something to this stimulus thing saving jobs....
In the week ending Feb. 28, the advance figure for seasonally adjusted initial claims was 639,000, a decrease of 31,000 from the previous week's revised figure of 670,000. The 4-week moving average was 641,750, an increase of 2,000 from the previous week's revised average of 639,750.
ETA Press Release: Unemployment Insurance Weekly Claims Report
WASHINGTON The number of new jobless claims and the total number of people receiving unemployment benefits both dropped more than expected last week, though they remain at elevated levels and are unlikely to fall substantially in the coming months.
Few economists expect a turnaround in the battered labor market anytime soon with companies laying off thousands of workers weekly.
Still, the tally of initial requests for unemployment benefits fell to 639,000 from the previous weeks figure of 670,000, the Labor Department said today. Analysts expected a smaller drop to 650,000.
New jobless claims unexpectedly drop to 639,000 | Freep.com | Detroit Free Press
I love how Obama's writers said create or SAVE jobs. That's pure genius. And government jobs will increase which, of course, hurts the economy even more. The guy is a master of deception.
8.1% unemployment anybody?
you mean tomorrow's numbers? i say just below 8
You know the old saying, Jill.
A decrease of 31,000 from the previous week's revised figure of 670,000 does not a summer make.
Target to Open Twenty-Seven New Stores
Upscale discounter opens first two locations in Hawaii
MINNEAPOLIS, March 3, 2009 – Target (NYSE:TGT) today announced the opening of 27 new stores including its first two locations in Hawaii. The new stores, which include 21 general merchandise Targets and six full-grocery SuperTargets, will hold a grand opening on Sunday, March 8.
You know the old saying, Jill.
A decrease of 31,000 from the previous week's revised figure of 670,000 does not a summer make.
oh...i know. but it was better than expected. and i figure since we're watching everything else, we should watch that, too.
of course, all the new jobs are at target. I wonder how the wall street types feel saying "welcome to target".
Target to Open Twenty-Seven New Stores
Upscale discounter opens first two locations in Hawaii
MINNEAPOLIS, March 3, 2009 Target (NYSE:TGT) today announced the opening of 27 new stores including its first two locations in Hawaii. The new stores, which include 21 general merchandise Targets and six full-grocery SuperTargets, will hold a grand opening on Sunday, March 8.
Target to Open Twenty-Seven New Stores / Target Corp
I have to admit, I have become completely pessimistic about the next five to ten years. To make matters worse, those who represent us believe that throwing money at this mess is the answer when it is becoming ever so apparent that the answer is the exact opposite. This economy is crashing and continuing to crash. Throwing more money at it is only going to devalue the dollar more.
This mess was created because we borrowed so much money to the point it could not be paid back. The only way things will turn around is for people to pay down their debt and actually save money. This will happen over time. In the process, many will find it impossible to pay their debts and the losses will mount. It is those who do remain employed who will turn things around, but not until they begin to save. As savings grow, and people actually find they have extra cash on hand, then they will begin to spend again, and that is when things will turn around.
This process is going to be very slow, but it is the only one that makes sense. We cannot have a strong economy based on consumer credit. We saw what happened when we went down that road. Fiscal policy for individuals and government need to be in sync. Cut spending whereever possible and save, save, save. This completely contradicts what most people believe will get things moving again. Most believe that if people will spend, then that will create more jobs, and this is very true. The problem right now is that no one has extra money to spend and we can't just print money so people will spend. We have to work through this one step at a time. People must reduce their personal debt to managable levels and save as much as they can. The government needs to cut spending across the board. This would make tax cuts more viable. Cutting taxes while increasing spending is only a recipe for disaster.
If we want to cut taxes so people can begin to save, then government spending must be cut drastically.
One of the reasons there has been a huge surge in Unemployment numbers is because some states have extended the period of time people can continue receiving UC benefits. In other words, those people who would have fallen off the rolls last year are able to file extension, and thus are staying on.
There are only so many people, though, and of course once that increase is accounted for, the numbers are going to even off.
.The same with foodstamps. While food is more expensive (though has dropped with the cost of oil and the reduction of demand on grain crops for biofuel) the income standards have been raised recently
Which means MORE PEOPLE ARE ELIGIBLE FOR FS. So of course those people are going to apply. It's not just indicative of hard times...it's because now more people are eligible, for longer.
One of the reasons there has been a huge surge in Unemployment numbers is because some states have extended the period of time people can continue receiving UC benefits. In other words, those people who would have fallen off the rolls last year are able to file extension, and thus are staying on.
Are you under the impression that the 600,000+ number being reported is the people collecting unemployment?
No, the numbers being reported are NEW files for unemployment, Allie. That means the people who lose their jobs THAT month.
Good guess though.
There are only so many people, though, and of course once that increase is accounted for, the numbers are going to even off.
Yes, nice try. Wrong, but kudos for creative thinking.
.The same with foodstamps. While food is more expensive (though has dropped with the cost of oil and the reduction of demand on grain crops for biofuel) the income standards have been raised recently
Now here you are right and on to something.
By increasing the elibility, they've increased the number of people who can get food stamps
Which means MORE PEOPLE ARE ELIGIBLE FOR FS. So of course those people are going to apply. It's not just indicative of hard times...it's because now more people are eligible, for longer.
Yup. Cause you know how many people who don't really need foodstamps will just apply out of spite, just to make the economy look bad when it isn't.
