Weekly jobless claims jump to 242,000, more than expected in latest sign of economic softening

[Zincwarrior]

Jobless claims rose higher than expected last week to the highest level since October. This occurred on the same day Trump re-iterated tariffs on Mexico, Canada go in place next week, threatened tariffs on the EU and said tariffs for China will rise an additional 10%.

https://www.cnbc.com/2025/02/27/weekly-jobless-claims-jump-to-242000-more-than-expected-in-latest-sign-of-economic-softening.html

Initial filings for unemployment benefits hit their highest level of the year last week in another potential signs of weakness in the labor market.

Jobless claims for the week ending Feb. 22 totaled a seasonally adjusted 242,000, up 22,000 from the previous week’s revised level and higher than the Dow Jones estimate for 225,000, according to a Labor Department report Thursday.

The level of claims matched the highest level since early October 2024 and comes amid questions over broader economic growth and worrying signs in recent consumer sentiment surveys.

President Donald Trump has been taking aggressive measures to reduce the federal workforce through Elon Musk’s Department of Government Efficiency advisory board. The efforts to far have resulted in thousands of jobs cuts and are expected to continue.

In Washington, D.C., new claims totaled 2,047, an increase of 421, or 26%, according to numbers not adjusted for seasonal factors. That is the largest number for the city since March 25, 2023, according to Labor Department records, and is consistent with a surge that began in early January.

 

[rightwinger]

It is what Trump refers to as Pain

You will get used to it

 

[Manonthestreet]

How many of those jobless claims were fired govt employees diung nothing but steaking from us

 

[Zincwarrior]

How many of those jobless claims were fired govt employees diung nothing but steaking from us

er can you translate that?

 

[1srelluc]

See what happens when the numbers aren't fudged and dead weight is got shed of?

It's been an employer's market for better than a year now but FJB's "best economy ever" numbers were propped up by .gov jobs.....And outright fudging of the numbers.

I told you this would happen. I'm fine with it too.

In the weeks since President Donald Trump has assumed office, more than 200,000 federal workers at more than a dozen agencies have had their roles eliminated.

Here are all the federal agencies where workers are being fired - WTOP News

In the weeks since President Donald Trump has assumed office, more than 200,000 federal workers at more than a dozen agencies have had their roles eliminated.

wtop.com

 

[postman]

I told you this would happen. I'm fine with it too.

In the weeks since President Donald Trump has assumed office, more than 200,000 federal workers at more than a dozen agencies have had their roles eliminated.

Here are all the federal agencies where workers are being fired - WTOP News

In the weeks since President Donald Trump has assumed office, more than 200,000 federal workers at more than a dozen agencies have had their roles eliminated.

wtop.com

Let's do the math. Add 200,000 workers to the unemployment rolls, and you think it's fake news that unemployment claims went up?

How did you put it again? - See what happens when the numbers aren't fudged ...

 

[rightwinger]

How many of those jobless claims were fired govt employees diung nothing but steaking from us

They are still unemployed

What is Trump going to do about it?

 

[Oddball]

Prolly a slew of them being do-nothing bureaucratic parasites, who got shown the door.

 

[Zincwarrior]

Prolly a slew of them being do-nothing bureaucratic parasites, who got shown the door.

Which impacts the rest of the economy.

 

[Manonthestreet]

They are still unemployed

What is Trump going to do about it?

Gee I never had a President find me a new job.

 

[citygator]

The (R) next to the president's name means Recession. The last 30 years have been a disaster when Republicans are in the white house.

MORE BAD NEWS:

High mortgage rates and elevated home prices combined to crush home sales in January.

Pending sales, which are based on signed contracts for existing homes, dropped 4.6% from December to the lowest level since the National Association of Realtors began tracking this metric in 2001. Sales were down 5.2% from January 2024. These sales are an indicator of future closings.

“It is unclear if the coldest January in 25 years contributed to fewer buyers in the market, and if so, expect greater sales activity in upcoming months,” said Lawrence Yun, NAR’s chief economist. “However, it’s evident that elevated home prices and higher mortgage rates strained affordability.”

While weather may have been a factor, sales rose month-to-month in the Northeast and fell in the West, which would have seen the smallest impact of cold temperatures. Sales fell hardest in the South, which has been the most active region for home sales in recent years.

Pending home sales drop to the lowest level on record in January

 

[John Edgar Slow Horses]

It likes Trump wants a Carter economy.

May the economic spirits help us.

 

[Oddball]

Which impacts the rest of the economy.

Yeah...There's less money being sucked into the bureaucracy to produce nothing, and being left with those who will do something productive.

 

[Zincwarrior]

Yeah...There's less money being sucked into the bureaucracy to produce nothing, and being left with those who will do something productive.

Considering we use deficit spending, thats a net negative.

 

[1srelluc]

I expect the jobs reports are not going to be "good" for quite a spell as the grift is weeded-out of the system and lots of those who had ancillary jobs supporting the grift are let go.

You know, like the NGO contractors who provided high priced meals to the illegals who in turn tossed them into the trash and such.

The bottom-line is that the dem's grift rice bowl has been taken away as are their grift-fueled "jobs" and they are pissed.

 

[Zincwarrior]

I expect the jobs reports are not going to be "good" for quite a spell as the grift is weeded-out of the system and lots of those who had ancillary jobs supporting the grift are let go.

You know, like the NGO contractors who provided high priced meals to the illegals who in turn tossed them into the trash and such.

The bottom-line is that the dem's grift rice bowl has been taken away as are their grift-fueled "jobs" and they are pissed.

SO you forecast the Republicans will lose in the midterms?

 

[kyzr]

It is what Trump refers to as Pain

You will get used to it

The PAIN happened when Biden hit with 9% inflation.
The Fed is not lowering rates because that Bidenflation is "sticky", hard to reduce.

 

[1srelluc]

SO you forecast the Republicans will lose in the midterms?

Nah, the dems have not even started to change their ways.....Please dems, never change.

People have hope for a change, not the dull steady pain like the past four years when they knew things would not get any better under whatever the fuck was running the country into the ground.

 

[C_Clayton_Jones]

They are still unemployed

What is Trump going to do about it?

Nothing.

Trump is too busy making Americans unemployed.

 

[1srelluc]

Nothing.

Trump is too busy making Americans unemployed.