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Title: Jobless Claims in U.S. Decreased 16,000 to 453,000 Last Week
Source:
Bloomberg
URL Source: http://www.bloomberg.com/news/2010- ... ated-to-453-000-last-week.html
Published: Sep 30, 2010
Author: Bloomberg
Post Date: 2010-09-30 09:58:31 by go65
Keywords: None
Views: 199
Comments: 13
Applications for U.S. unemployment benefits decreased last week, a sign companies are cutting back on firings even as economic growth slows. Initial jobless claims decreased by 16,000 to 453,000 in the week ended Sept. 25, lower than the median forecast of economists surveyed by Bloomberg News, Labor Department figures showed today in Washington. The total number of people receiving unemployment insurance and those getting extended payments fell. As dismissals abate, employers also aren’t adding enough workers to reduce an unemployment rate that’s hovering near a 26-year high. A lack of job growth suggests consumer spending, the biggest part of the economy, will be slow to pick up in coming months. “Employers are still kind of cautious,” said Russell Price, a senior economist at Ameriprise Financial Inc. in Detroit, who forecasted claims would fall to 455,000. “We need to regain that broader momentum in the economy, and something like that is just slow to develop.” The world’s largest economy grew at a 1.7 percent annual rate in the second quarter, marking the start of a slowdown in growth that has concerned the Federal Reserve, revised figures from the Commerce Department also showed today. The revised increase in gross domestic product exceeded the median forecast of economists surveyed, which projected a reading of 1.6 percent, unchanged from the government’s estimate issued last month. GDP grew 3.7 percent in the first three months of the year and 5 percent at the end of 2009. Futures Rebound Stock-index futures climbed after the reports, erasing earlier losses. The contract on the Standard & Poor’s 500 Index rose 0.3 percent to 1,144 at 8:47 a.m. in New York. Treasury securities also advanced, sending the yield on the benchmark 10- year note down to 2.47 percent from 2.51 percent late yesterday. Claims were projected to fall to 460,000, according to the median forecast of 47 economists in the Bloomberg survey. Estimates ranged from 450,000 to 475,000. The Labor Department revised the prior week’s figure to 469,000 from 465,000. The four-week moving average, a less volatile measure than the weekly figures, dropped to 458,000 last week from 464,250, today’s report showed. The number of people continuing to receive jobless benefits fell by 83,000 in the week ended Sept. 18 to 4.46 million. Smaller Benefit Rolls The continuing claims figure does not include the number of Americans receiving extended and emergency benefits under federal programs. Those who’ve used up their traditional benefits and are now collecting emergency and extended payments decreased by about 293,000 to 4.88 million in the week ended Sept. 11. The unemployment rate among people eligible for benefits, which tends to track the jobless rate, fell to 3.5 percent in the week ended Sept. 18 from 3.6 percent the prior week. Forty-four states and territories reported an increase in claims, led by a 15,000 jump in California as government offices returned to a five-day work week following a holiday-shortened schedule the prior week. Nine states reported a decrease in the week ended Sept. 18. Initial jobless claims reflect weekly firings and tend to fall as job growth -- measured by the monthly non-farm payrolls report -- accelerates. More Unemployment Private employers in August added 67,000 workers while total payrolls fell by 54,000, the Labor Department said earlier this month. Unemployment rose to 9.6 percent last month, and economists surveyed by Bloomberg forecast joblessness will stay near that level for the rest of the year. The economy is a top issue for voters in the November congressional elections, and polls show the public is increasingly skeptical of President Barack Obama’s performance. Earlier this week Obama signed legislation yesterday that will cut taxes and provide credit help for small businesses, calling it an essential step for job growth in a slow economy. Some companies are still firing workers while others are hiring on a short-term basis. Toys ‘R’ Us Inc., the world’s biggest toy retailer, plans to hire about 45,000 employees to cope with demand during the holiday season. The move is “essentially doubling” the domestic workforce, Wayne, New Jersey-based Toys ‘R’ Us said in a Sept. 28 statement. Textron Inc., based in Providence, Rhode Island, said it plans to cut 700 jobs at its Cessna plane division, as the aircraft maker reduces production further because demand hasn’t yet picked up after the recession. The cuts represent about 8.3 percent of the unit’s workforce.
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#1. To: go65 (#0)
Yep...temp hiring is occuring for the coming holiday season. Almost another half million filed for Unemployment on Owe-bama's watch. Combine that with another 300,000 or so foreclosures, more bank failures...and we sure will have a bunch of pissed off voters in 32 days or so stating their view of this Administration and Congress's performance. I can see November from my House...and can make out some details now that its much closer. The bloodbath is stunning.
Obama's first all-by-his-lonesome budget, btw, calls for a $1.17 trillion deficit.
Since Obama became President, private sector employment has grown by over 750,000 jobs, compared with the millions lost in the last year of the Bush administration. But it's all for naught, as you have noted, things will get worse next year after the GOP takes the Congress.
http://www.daytondailynews.com/blogs/content/shared- gen/blogs/dayton/ohiopolitics/entries/2010/09/26/polls_have_strickland_reenergi.html I can see November from my House...and can make out some details I can see November from my House...and can make out some details I can see November from my House...and can make out some details
False, another Grayson type comment. Its the credibility, stupid.
Obama's first all-by-his-lonesome budget, btw, calls for a $1.17 trillion deficit.
Kasich will win. Watch and see.
Obama's first all-by-his-lonesome budget, btw, calls for a $1.17 trillion deficit.
Ok, you're boring everyone to death with your Judy Garland memorabilia gif... But funny. I never noticed that those socks might be Spandex.
Consider that these are merely stats - and skewed at that. Reality? Double ALL the numbers. EVERYONE sees the writing on the wall. Though the RATS will have exterminated themselves, turning around this SS Titanic will be nearly impossible. Damage Done. Gubmint has GOT to get the hell out of the Peoples' lives.
Whats interesting, but overlooked, is how many recent college grads are unemployed, or way under employed. Somehow I doubt they'll be very excited to show up in November to vote for more of the same.
Obama's first all-by-his-lonesome budget, btw, calls for a $1.17 trillion deficit.
Facts aren't your friend badeye. Remember something, during the 8 years Bush was President the U.S. economy gained 1 million private sector jobs. We're almost there already under Obama, in less than 2.
False, another Grayson type comment. Its the credibility, stupid. Facts aren't your friend badeye. Riiiight. Facts like record numbers of unemployed Americans.record foreclosures, record bank closings, record bankruptcy's, and record deficits...sure Mr Grayson, those 'facts' aren't the friend of Conservatives today....(laughing) 1st Rule of Holes, my befuddle old friend.
Obama's first all-by-his-lonesome budget, btw, calls for a $1.17 trillion deficit.
Yep, and yet things have improved across the board since we got rid of Bush. But now that it looks like the GOP will take the Congress next year, even you admit that "things will get worse".
But now that it looks like the GOP will take the Congress next year, even you admit that "things will get worse". 'Yep, and yet things have improved across the board since we got rid of Bush. ' Tell that to record numbers of unemployed Americans, those record numbers of homeowners evicted by the banks, the record number of foodstamp recepients, the record number of banks closed...all since Owe-bama took office as we all know. How's this ridiculous 'message' working out in the current campaign cycle for you guys? (roaring with laughter) But now that it looks like the GOP will take the Congress next year, even you admit that "things will get worse". Make up your mind, Mr Grayson....lmao
Obama's first all-by-his-lonesome budget, btw, calls for a $1.17 trillion deficit.
#2. To: Badeye (#1)
Almost another half million filed for Unemployment on Owe-bama's watch. Combine that with another 300,000 or so foreclosures, more bank failures...and we sure will have a bunch of pissed off voters in 32 days or so stating their view of this Administration and Congress's performance.
And the Conservative plan to create jobs is......?????
#3. To: Badeye (#1)
I can see November from my House...and can make out some details now that its much closer. The bloodbath is stunning.
Emboldened by a recent poll that found Republican challenger John Kasich's lead was shrinking in the race for Ohio's next governor, Gov. Ted Strickland said his opponent's momentum has "peaked" and vowed Sunday "I have a lot of fight left in me."
Strickland seemed re-energized just after noon as he spoke to crowd of about 100 people from the steps of his tour bus outside Montgomery County's Democratic headquarters just after noon.
After months of trailing in numerous polls, in one as many as 17 points, Strickland is within four points of Kasich for the governor’s office, according to a Dayton Daily News/Ohio Newspaper poll.
And the Conservative plan to create jobs is......?????
#4. To: go65 (#3)
now that its [sic] much closer. The bloodbath is stunning. 
now that its [sic] much closer. The bloodbath is stunning.
now that its [sic] much closer. The bloodbath is stunning.
#5. To: go65 (#2)
Since Obama became President, private sector employment has grown by over 750,000 jobs, compared with the millions lost in the last year of the Bush administration.
#6. To: go65 (#3)
#7. To: war (#4)
#8. To: Badeye (#1)
Almost another half million filed for Unemployment on Owe-bama's watch. Combine that with another 300,000 or so foreclosures, more bank failures...and we sure will have a bunch of pissed off voters in 32 days or so stating their view of this Administration and Congress's performance.
#9. To: Liberator (#8)
#10. To: Badeye (#5)
False, another Grayson type comment. Its the credibility, stupid.
And the Conservative plan to create jobs is......?????
#11. To: go65 (#10)
#12. To: Badeye (#11)
Riiiight. Facts like record numbers of unemployed Americans.record foreclosures, record bank closings, record bankruptcy's, and record deficits...sure Mr Grayson, those 'facts' aren't the friend of Conservatives today....(laughing)
And the Conservative plan to create jobs is......?????
#13. To: go65 (#12)
Yep, and yet things have improved across the board since we got rid of Bush.
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