January 13th, 2011
08:51 AM ET
12 years ago
Jobless claims climb by 35,000
NEW YORK (CNNMoney) - The number of Americans filing for their first week of unemployment benefits jumped sharply last week, two weeks after hitting a 2-1/2 year low below 400,000.
There were 445,000 initial jobless claims filed in the week ended Jan. 8, up 35,000 from a revised 410,000 the previous week, the Labor Department said in a weekly report Thursday.
The figure was higher than expected. Economists surveyed by Briefing.com had forecast initial claims to edge up to 415,000 in the latest report.
The government said 3,879,000 people filed continuing claims in the week ended Jan. 1, the most recent data available. That's down 248,000 from the preceding week's revised 4,127,000 claims.
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At the end of the day, we will need to cancel or re-negotiate the free trade agreements. To me, everything else seems to be just a temporary band-aid.
I have observed a trend for 30 years that Corporate America tends to close its budgets in December and wait at least two months before authorizing expenditures for the upcoming year. In other words, business has budget for resources such as employees, but drags its heels on releasing budget dollars until the organization feels significant pain – usually about 3 months. Coupled with a tendency to shed force in December, this leaves a vacuum in business expenditures and results in a spike of unemployment figures.
if this economy is truly turning around (and I believe it is) we should see significant hiring figures and decrease of unemployment claims right around the first of April.
DUH !!!!!! Xmas is over. -– It`s back to "bare minimum, less one" on the payroll.
No surprise, jobs are still going overseas!!!!!!!!!!!!!!!!!
ooops econ getting better?
How could they? They got the tax cuts they wanted.
This is the true reality, when you disregard the government propaganda.
lesson more people filing unemployment claims because of people slowly moving back in the job market. that doesnt mean that employers are not hiring. the governor of illinoise have taken a brave action on raising taxes to bring in billion of dollars of tax revenue to help with the government budget pitfall. i am glad that he is not cutting money from the spenders of his state, other repugs are telling businesses to come to their states because they cut spenders money to to curve their budget pitfalls of their states. hey demand runs this capitalism country. why would businesses come to a state with competition, and with the government taking away the spenders spending money how the hell will they have enough demand to keep them afloat, much less out side businesses, businesses might lose money in taxes but they still have the demand power from the spenders of the state that will help their businesses survive, plus stabilize their government. hey money does nothing in the rich hand but goes over seas to the bank. but it creat alot of demand when its in the middle class and poor folks hand that spends it like water. the illinoise governor is brilliant in what he as done and because its only temporary it makes it more brilliant.