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Unemployment Claims Rise To 418,000

July 23, 2011 by  

Unemployment benefit claims increased.The week ending July 16 showed an increase in unemployment claims, according to data from the United States Department of Labor.

Seasonally adjusted initial jobless claims rose by 10,000 to 418,000, making it 15 straight weeks that such applications for unemployment benefits have topped the 400,000 mark.

Reuters reports that the economists it polled expected the figure to be closer to 410,000, but were not overly surprised by the final figure.

“We’re just stuck in this trend between 410,000 and 430,000. Generally we’re just really not seeing any improvement but also not much worsening,” economist Jeffrey Greenberg with New York’s Nomura Securities told the news agency.

Over the past few months, increased layoffs have hampered any payroll growth. In general, job creation has not been strong over the past two months as well, according to Reuters.

The news source reports that for the week ending July 2, 7.33 million people were claiming jobless benefits.

The unemployment rate for June was 9.2 percent as only 18,000 jobs were added, which is not enough to drastically affect the figure.

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  • Cawmun Cents

    They laid of NASA for goshsakes~!-CC.

  • http://lives RAYMOND HARBIN

    THERE ARE, AS MOST AMERICAN SMALL BUSINESS OWNERS KNOW, TWO FUNDAMENTAL REASON’S FOR CONTINUED DROPS IN EMPLOYMENT:

    1- HOUSING HAS BEEN DEAD NOW FOR THREE YEARS: AT THE PRESENT RATE OF SELL-OFF OF OUR HUGE, EMPTY-HOME INVENTORY– 3,000,000 +– SIXTY ADDITIONAL MONTHS IS REQUIRED TO BRING THIS DOWN TO A LEVEL OF PRODUCING NEW HOME CONSTRUCTION. THIS DISTRESSED INVENTORY IS PRICED AT 50 TO 60% OF THE COST OF A NEWLY BUILT HOUSE. WHO IS SIMPLE ENOUGH TO BUILD A NEW HOUSE?

    OUR NATION HAS BEEN DEPENDENT FOR 55 + YEARS FOR THE HUGE LABOR GENERATED BY HOUSING–WHEN NORMAL IT ENERGIZES THE ENTIRE FABRIC OF OUR INDUSTRY LIKE NOTHING ELSE.

    2- THE GREAT MAJORITY OF THE AMERICAN BUSINESS COMMUNITY HAS NO TRUST AT ALL FOR BARACK OBAMA–ESPECIALLY OUR LARGEST EMPLOYER– SMALL BUSINESSES.

    THEY SEE HIM AS A SUPER INCOMPETENT, CLASS-WARING, SOCIALIST-FASCIST WHO GLORIES IN RAMPANT STEALING FROM THE HARD WORKING AND PRODUCTIVE AND GIVING IT TO NON-TAXED FREELOADERS IN EXCHANGED FOR THEIR VOTE.

    MUCH OF THE TIME, TO HIRE NEW PERSONNEL, SMALL BUSINESS MEN MUST PUT THEIR FAMILY’S SAVINGS (INCLUDING THEIR HOMES AS COLLATERAL) ON THE LINE, WITH THE HOPE THAT AN EMPLOYEE INCREASE WOULD GENERATE ENOUGH CASH FLOW TO COVER THE GAMBLE. BUSINESSMEN WANT LEADERS WHOSE “WORD IS THERE BOND.” THEY SEE THAT BARACK OBAMA’S WORD “…IS NOT WORTH A BUCKET OF SPIT, “AS ONE EARLIER POLITICIAN DESCRIBE THE TRUTHFULNESS OF ANOTHER.

    HOW CAN WE POSSIBLY EXPECT SANE PARENTS TO WAGER THEIR FAMILY’S SAVINGS IN A COMMERCIAL VENTURE IN A COUNTRY WHOSE LEADER OPERATES AS A “VIRTUAL MAN,” PROGRAMMED TO PERPETUAL LYING??

    THESE ARE THE *PRIMARY* CAUSES OF AMERICA’S ECONOMIC WOES.

  • http://deleted Claire

    The mess we are in has been going on for decades. Now it has reached the point of no return. Good luck to all of us, we are going to need it.

  • Dan az

    Has anyone ever figured out of the 400.000 or so that come on the unemployment rolls how many that week had left the rolls each week?Out of the 7.3 million that are claiming benefits they are probably just as many losing benefits.You know if they would have just given the money to the people instead we would have all been millionaires and would have turned this around in a heart beat.Just saying!With a trillion dollars divided up among 300 million people you think maybe the unemployment numbers would be 0?And the car plants would have a hard time keeping up with the demand and the housing market would be far from being dead they would have to start importing workers just to keep up.Maybe its just me,I was never into math that much!

    • http://deleted Claire

      Dan az– Regarding the stimulus and any stimulus–I have often thought the money should have been given to the people—about $150,000.00 apiece–and not given to the states to piss away. People would have paid off their homes, cars, etc. Some would fritter it away and some would be “buying” goods. Maybe I am wrong but perhaps this would have worked better.

      • Dan az

        Claire
        Not only the one trillion but how about 3 trillion and what did we get for all that money nada zip.We have a real brain trust up there huh!?

        • http://?? Joe H.

          Dan az,
          Even those newly laid off will be affected by HR4646. A transaction tax for EVERY transaction you make through your bank!! 1% EACH time you make a transaction such as a deposit, withdrawal, mortgage payment, check for bills, all sorts of things!! how would you like a 1% increase in your house payment??

  • Cawmun Cents

    Gubment yells the most about the shyte ceiling!You are stopping them from defecating on you and handing them all the toilet paper they need.They are used to getting preferential treatment.Now that you are waking up under a steaming pile of debt,you are of course,asking why it stinks so much.
    But since you let them shyte upon you,and gave them the means to wipe thoroughly,now its about a,”where are we going to drop our horkin growlers now?” attitude.Tell them to shyte upon each other,they seem to be adept at that already.But tell them that they will have to wipe each others bottoms,because you arent ponying up the ultra plush anymore.No!…to raising the shyte ceiling.No!…to giving away the rolls.Tell them they have made you the bluehouse target for the last time.
    Someday you will thank yourself that you took away the giant gubment posterior that hovered over you and dropped its loads with impunity.But if you give in,then dont expect things to smell pretty when its all said and done.The only way you will ever get out of the steaming pile,is to make sure that no more lands on you.-CC.

  • Thinking About

    What happened with unemployment before Obama was elected. Using your same reasoning (or lack of sound reasoning) who would you blame that on. Perhaps if we had decent Congress members who carried through on their jobs jobs jobs instead of presenting bills trying to make us go back to inefficient light bulbs we just might get some degree of responsibility.

    • Dan az

      Think
      Take the time to watch this about who and how it accordhttp://www.youtube.com/watch?v=Ohp5IX3y098&feature=related
      Then come back and tell us its a lie.

  • pete the simian

    Unemployment is up – but it is much higher than 9.2 percent … More like somewhere between 20 to 30 percent …

  • s c

    Once again, the new Prince of Lies [Bummer] has LIED to us. It seems as though the only way you can get a job these days is to “work” for the government. Of course, that tends to open another can of worms. We have a bunch of people in Washington who vacillate between being ‘unemployed’ and ‘employed.’ They’re called POLITICIANS.
    To draw a parallel, being in the W H has much in common with the Peter Principle. That is, if you can manage to get into the W H, you go back and forth between being competent and incompetent.
    The two current W H boobs are more accurately described as being incompetent and unemployable, as they know how to talk and they know how to travel, but when it comes to getting things DONE for America, those twits DON’T HAVE A CLUE.
    Anybody think we get what “we pay for” now?

  • jopa

    JoeH HR4646 was never passed and was cleared off the books.One good part of that bill would have saved small business owners tons of money though.Every time you swipe your debit card the banks charge the store a high fee around 40 cents I believe and the banks are making billions off of this.They wanted to roll the fee back to around eight cents, Wall Street screamed and the Republicans killed the bill.It has been awhile and my numbers may not be exact but close.Few years ago I wondered why little stores and gas stations had minimum $20 purchase when using a debit or credit cards.It cut too deep into their bottom line.

  • jopa

    Joe H I don’t know how old you are or if you even heard of agent orange.However Rep John Culbertson (RTX) introduced a bill HR 2055 that will make it virtually impossible for any Vietnam vets to make any future claims because of agent orange and those receiving benefits may be out of luck also.I sure cannot figure out where they come up with the time for this stupid crap.The claims office in my view should be open as long there is at least one surviving member of the American military that had his boots on the ground in Nam.If this is there idea of solving the debt crisis they truly are nuts.

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