Jobless claims surge.
By on Apr 3rd, 2008 at 11:41 am
Jobless claims surge.
The Labor Department reports “that 407,000 new applications for unemployment assistance were filed last week,” the highest level since September 2005. The number of people filing new claims for unemployment benefits rose by 38,000, “up sharply from the 319,000 jobless claims a year earlier.”
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What a phony statistic this is! Once you’re unemployed longer than 6 months you drop off the statistics, as if you’re suddenly employed. I know quite a few people who have been out of work for YEARS and I’m guessing there’s a vast number of like people out there.
April 3rd, 2008 at 11:45 amThe surge of unemployment and food stamps is working!
April 3rd, 2008 at 11:46 amIt’s a good thing the White House scrubbed its web page on the economy last month. The cute animation (proclaiming “President Bush’s actions are moving our economy forward,” “18,000 jobs created in December 2007,” “Over 8.3 million new jobs created since August 2003″ and “Unemployment rate remains low at 5%.”) was a little dated.
For the details, see:
April 3rd, 2008 at 11:47 am“White House Scrubs Web Site on the Economy.”
but mcSENILE will create mcJOBS… he’s not sure how, but by golly my friends it will happen.
April 3rd, 2008 at 11:48 amno, common are we in a recession? A business paper in England had the headline; 2008 Americian Depression.
April 3rd, 2008 at 11:49 amFinally BushitCo has a surge that works.
April 3rd, 2008 at 11:51 amMarvelous.
but mcSENILE will create mcJOBS… he’s not sure how, but by golly my friends it will happen.
He will create jobs, and they will pay well. And get this: the plane ticket to Iraq will be FREE.
April 3rd, 2008 at 11:53 amThis surge
April 3rd, 2008 at 11:54 amNot working
Literally
Ha, that made me chuckle….then my guts clenched….
April 3rd, 2008 at 11:59 amIt is not looking so good out there in the old job market right now for a lot of folks. It sure has all the signs of an up coming depression.
Make sure you have your camping gear/vegetable seeds/garden hoe/bucket in order, you’re going to need it.
April 3rd, 2008 at 12:01 pmI wonder what will eventually become of those 407,000 people. Out of 407,000, how many will:
1) Find a job within six months comparable to the one they left?
2) Find a job that pays less than the one they left and/or provides less in the way of benefits?
3) Not find any kind of job and after unemployment runs out, will live on their savings until they are broke?
4) Take part-time work and do odd jobs just to eke out a living after their unemployment runs out?
5) Will eventually max out their credit cards and then declare bankruptcy?
6) Will enlist in the military as all other options dry up?
I suspect that because Option 6 is in the mix, our current administration won’t feel the need to do much of anything about this.
April 3rd, 2008 at 12:04 pmOh boy!!!! More proof that THE SURGE IS WORKING!!!!!!!!
April 3rd, 2008 at 12:04 pmCan’t wait ’till the Chymp ‘N Chief is jobless…
April 3rd, 2008 at 12:05 pmI am about 2/3’s through The Shock Doctrine by Naomi Klein. It’s beginning to look like it’s our turn for economic “shock therapy”. I do not believe anything happens under this regime is by chance.
April 3rd, 2008 at 12:10 pmAmerica: the last frontier for the Milton Friedman free market asswipes.
They came out with a new statistic about how many Americans have to have two jobs to make ends meet. With the cost of fuel and groceries on the rise it is hurting American Families. That leaves no one at home for the children.
That is so tragic, and they keep patting themselves on the back for what a great job they are doing…
They don’t have a clue and they never will because it doesn’t effect them personally.
April 3rd, 2008 at 12:16 pmLast I heard in Flint Michigan they had an unemployment rate of over 40%. But like they said that didn’t include all the people that had used up all their unemployment.
They need a real stimulis package. One that includes fixing our highways and bridges. That would employ many people and guess what they would send money and boost the economy. Instead we are all receiving a Rebate Check which will do absolutely nothing for the economy.
Republican Politics as usual…Don’t work the problem..
April 3rd, 2008 at 12:22 pm#18 I so agree.. I figure if we ignore him he will go away.
April 3rd, 2008 at 12:30 pmFreedom Rebel Says:
They came out with a new statistic about how many Americans have to have two jobs to make ends meet. With the cost of fuel and groceries on the rise it is hurting American Families. That leaves no one at home for the children.
Bush: Multiple jobs? How uniquely American.
April 3rd, 2008 at 12:41 pm# progressisgreat Says:
You just keep showing how unintelligent you are……maybe if you work real hard and keep your nose to the grindstone you can graduate from high school 4th from the bottom of your class like your hero mccain.
April 3rd, 2008 at 1:12 pmBut the Repugnants oppose extending unemployment benefits as part of economic stimulus, but they’ll fight to the death to maintain big oil tax breaks!
April 3rd, 2008 at 1:45 pmRepublicans only like helping the well-off.
April 3rd, 2008 at 1:49 pmNotice how the stock market is doing. Once Bear Stearns was bailed out, the market went way up. The fact is that only the wealthy corpocracy matters. We see it as the Fed justifies the bailout by stating that it is maintaining the market. (Yes, the CEO walks away with more than $100 million, such a loss; while millions lose their homes.) Unemployment is up so we will now have to give the wealthiest even more tax breaks so that money will eventually trickle down and the rabble may beg for bread crumbs.
April 3rd, 2008 at 2:16 pm22.7 million jobs created under President Clinton, 237,000 monthly average. Last I heard, Bush’s average was 72,000. I believe about 140,000 is needed to keep up with population growth.
Since 1920, whenever Repub president replaces Dem, the job growth rate worsens. Whenever a Dem replaces a Repub, the job growth rate improves. You can look it up. You won’t hear that on the “liberal media”.
April 3rd, 2008 at 2:27 pmWhy is it people get lazy under Republicans and become harder working under Democrats? (sarc)
April 3rd, 2008 at 2:29 pmDon’t forget big oil needs their profits too. They need the good times to offset the bad times, and they need the profits for exploration and alternative fuels. Don’t be so rough on the rich people.
/sarc
April 3rd, 2008 at 2:30 pmEstimate for tomorrow’s numbers is a loss of 50,000 jobs for March. (From CNN Money)
April 3rd, 2008 at 2:56 pmApril 3rd, 2008 at 2:58 pm
The army recruiting office looks mighty appealing right now to the tired and hungry masses.
April 3rd, 2008 at 4:06 pmLet them eat MREs.
April 3rd, 2008 at 4:12 pmNot only does this not include those unemployed for 6+ months, it also doesn’t measure the ranks of the underemployed. Mrs. Forester was “reorganized” out of her job a year ago. She finally has a long term temp job at less than half her previous salary with no benefits. I’m disabled and COBRA is absolutely killing us.
There are no stats for those like us.
-AF
Andrew Sullivan Is A Fraud
Si Fractus Fortis
April 3rd, 2008 at 4:17 pmI wonder how many still employed are doing one or two positions at their jobs. I know for a fact of 6 people that are handing on but at the price of working from 7:30 A.M. til 10 P.M. because the company, Aegon USA will not replace those laid off. Also a Manager of a large retailer laid off 10 people in his store and the ones left have to take up the slack.
April 3rd, 2008 at 5:03 pmtexaslady Says:
April 3rd, 2008 at 5:03 pm
Aegon USA will not replace those laid off.
_____________________________
OMG — I used to work at one of the Aegon USA companies (Monumental Life Insurance), and I’m glad I don’t any more.
Of course, the company I DO work for also expects their employees to do more with less — I guess they all do nowadays. Executives’ bonuses depend on how they can cut expenses.
April 3rd, 2008 at 5:29 pm#32 Anarcher-
I very sorry to hear that. It is a very sad fact that keeps happening over and over again. People are excepting jobs that pay way less than what they use to make. Because there are so few good paying jobs left.
I sincerely hope things improve for you and your wife.
My best wishes…
April 3rd, 2008 at 5:37 pmIf the cost cutting was across the board with all sharing in cutting salaries it would be more understandable. However, I am not seeing that. And, because of lack of service people go elsewhere, who carries the blame ? The store Manager.
April 3rd, 2008 at 5:40 pmThis is the surge Pres Bush won’t talk about, even though he’s just as responsible for this one as he is for the “surge” in Iraq.
April 3rd, 2008 at 8:29 pm