Network News

X My Profile
View More Activity
2.7%  Q1 GDP    4.57%  avg. 30-year mortgage     9.5%  Unemployment

New Unemployment Claims Jump Higher Than Expected

The number of people filing for unemployment benefits for the first time rose to 654,000 in February, a higher level than expected, government data out today show, while retail sales fell for the seventh time in eight months.

Most economists had expected jobless claims to rise to 645,000. However, it turns out that there were 6,000 more claims filed the previous week than was initially reported.

The four-week moving average, which is a less volatile measure, rose to 650,000, an increase of 6,750 from the previous week. There are now a record 5.3 million people collecting unemployment benefits.

In the face of mounting job losses, consumers continue to spend less. Retail sales fell 0.1 percent in February, which was less than the 0.5 percent decline most analysts had expected. However, sales were down 8.6 percent compared with a year earlier.

-- Annys Shin
Sign up to get The Ticker on Twitter

By Kendra Nichols  |  March 12, 2009; 9:12 AM ET
Categories:  The Ticker  
Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   Del.icio.us   StumbleUpon   Technorati   Google Buzz   Previous: WJLA Paying Remaining Employees To Buy Cars
Next: Madoff Arrives In Court, Expected To Plead Guilty

Comments

The Cousin's with intent to break the financial backbone of the USA, must be so proud right now.
No violence, just a nice quiet enemy within.
Is the Tea Party tax revolt actually to keep money from the Cousin's caves?

The spill over from Mexico, where beheading are rampant, needs more border patrol agents. The job would be a good one, if only the Homeland Defense Zar was against the porous borders.

Instead the Homeland Defense ZAR is busy encouraging the Justice Department to remove all law enforcement in Arizona, who are attempting to hold out the throngs from their State.
The mounting danger there is creating a State of lawless Chaos. Their Governor has been begging for 250 Border Agents at minimum, but no help for them , and apparently no hiring of the unemployed as the State's right to exsist question surfaces instead.


There are greater evils for America afoot in this administration, than just a failed Obamanomics plan, and No confidence that Obama met Constitutional qualifications .

Posted by: dottydo | March 12, 2009 10:38 AM | Report abuse

Dotty-
When is the tea party and how much tin foil do I need to wear on my head?

Posted by: TheDukeStir1 | March 12, 2009 10:52 AM | Report abuse

Obama's presidency is collapsing down around him. He needs to resign and let the adults take over now. The Porkulus Bill that he signed is full of earmarks, the kind he was against as a candidate. He says one thing and does another. He can't do anything without a Teleprompter. I think we've been short-CHANGED folks. I think people are feeling more HOPElessness than HOPE at this point. He's an empty suit. All talk, no walk. He's just a BS Artist who talks a good game.

Posted by: twbarr25 | March 12, 2009 12:17 PM | Report abuse

Dotty,

I have on my tinfoil hat.

Take me to your leader.

Tweeeeet, zibbbit, boink boink

Posted by: Heerman532 | March 12, 2009 12:54 PM | Report abuse

UNEMPLOYMENT IS KING

If all economic statistics, Unemployment effects the entire economy, all the time, right now.

If the value of our house drops but you don't plan to sell soon--big deal.

If the stock market wallows in the toilet but you are not selling-big deal.

But if you know several people who have lost their jobs and you even SUSPECT you may lose your job--- Spending is IMMEDIATELY cut to the bone.

Thats what is happening now.

Posted by: JaxMax | March 12, 2009 1:17 PM | Report abuse

"The four-week moving average, which is a less volatile measure..."

I believe the author meant to say "The four-week average moving range, which is a less volatile measure..."

The moving range (mR) is the variance between two successive data points and the average moving range is just the average of all those variances. To say that it is less volatile just means that the difference in unemployement from month to month hasn't change much. However, I don't know how that can be said when the number of people that lost their jobs really started to accellerate in Nov. The mR should have shown an upward trend.

Posted by: ahashburn | March 12, 2009 3:49 PM | Report abuse

dottydo,
Can I please have some of what you're smoking?

Posted by: Mini22 | March 12, 2009 5:47 PM | Report abuse

Job loss...Been there. Done that. Yep, still 'there'.

Losing a job is one of those defining moments in life. We can choose to lose our
way (our mind), or we can rise to the challenge and follow what our Spirit tells
us to do.

Remember: We are more than a statistic on the news.

I'll share with you what I was told the day I got "set free" (laid off) from my
job: "This is a new chapter in your life. WRITE ONE HELL OF A CHAPTER!" And I did just that! Will you?

Need a break from the doom and gloom? Ready to begin your journey today? Then
grab your FREE (no strings) book download at: http://www.noexpertsneeded dot com

Simply my way of 'giving back'!

take care,
Louise Lewis, author
No Experts Needed: The Meaning of Life According to You!

Posted by: NoExpertsNeeded | March 13, 2009 10:58 AM | Report abuse

The comments to this entry are closed.

 
 
RSS Feed
Subscribe to The Post

© 2010 The Washington Post Company