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Unemployment Up, Not Down: 424,000 Last Week



May 26, 2011 2 Comments ›› Pat Dollard

CNBC:

Stubborn Jobless Claims Still Keep On Climbing Higher

New U.S. claims for unemployment benefits unexpectedly climbed to 424,000 last week from a revised 414,000 in the prior week, pointing to a painfully slow improvement in the nation’s job markets.

The Labor Department on Thursday revised the prior week’s claims number up from an originally reported 409,000.

Economists surveyed by Reuters had forecast that claims last week would decline to 400,000, rather than rise.

The four-week moving average of unemployment claims, considered a better measure of trends since it smoothes out weekly variations, eased slightly to 438,500 from a revised 440,250.

Last week marked the seventh straight week in which claims topped the 400,000 level, indicating that payroll growth is soft and may continue to be so for some time. A department official said there were no exceptional factors to account for the rise in last week’s claims.


  • derised1

    “Unexpectedly” of course. The Hopey-Changey train wreck continues heading off the rails. :???:

  • Lock and Load

    Damn those “stubborn” jobless claims, they’re spoiling the illusion that America is climbing out of its economic troubles… :roll: :roll: The only stubborn thing here is the wrecking crew administration that will not support initiatives that will ACTUALLY HELP the economy :evil: :evil: Note the ridiculous quote of the day…”Economists surveyed by Reuters had forecast that claims last week would decline to 400,000, rather than rise.” What economists that Reuters would survey would actually say otherwise… ? PLEASE :roll: :roll: :???: