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Archive for Friday, July 9, 2010

Jobless claims fluctuate as recovery slows

July 9, 2010

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— Applications for unemployment aid have been fluctuating from week to week, offering an uncertain view of layoffs and the job market.

First-time requests for jobless aid dropped last week to their lowest level since early May, the government said Thursday, erasing increases made in the last two months.

Still, economists say it’s hard to detect a trend in one week of declines. Initial claims have seesawed for several weeks and are not much lower than they were in January.

Elevated unemployment claims, along with last month’s weak jobs report and a struggling housing market, have suggested that the recovery is slowing.

“While the report is good news, it would need to be followed up by several more weeks to suggest a pickup in hiring,” Julia Coronado, an economist at BNP Paribas, said in a note to clients.

Meanwhile, the total number of unemployed Americans receiving benefits is dropping sharply because their aid is ending. About 350,000 people stopped receiving benefits in the week of June 19. Most of them were cut off because Congress has yet to extend federal jobless aid.

Comments

SettingTheRecordStraight 4 years, 5 months ago

The economy created 83,000 private sector jobs last month, but 630,000 unemployed people stopped looking for work. In essence, those people have left the job market. Any stated decrease in the unemployment rate is not based in reality.

Flap Doodle 4 years, 5 months ago

“How many Americans will never work again? Perhaps a lot. A close look at the Bureau of Labor Statistics’ Current Population Survey raises some alarming questions about the prospects of significant parts of the American population….” Read the rest at: http://www.firstthings.com/onthesquare/2010/07/americans-whorsquoll-never-work-again

Sigmund 4 years, 5 months ago

A trillion dollars in stimulus and all I got was a "Recovery Summer" T-shirt.

imastinker 4 years, 5 months ago

We get that a lot here too. People come in that are so unbelievably uninterested in working that you can't believe they showed up.

Zachary Stoltenberg 4 years, 5 months ago

Well I don't know where your delusions come from but the paltry checks I've gotten aren't enough to even pay bills on, let alone live off of. I'd be grateful for a full time job, they just don't exist in my profession. And yes, I do blame Obama for making a bad problem ten times worse and bankrupting our country to do so.

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