Network News

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

New jobless claims unexpectedly rise by 24,000

New weekly jobless claims unexpectedly rose by 24,000 to 484,000 last week, the government said this morning, increasing worries that high unemployment will stick around for a long time.

Forecasters had expected the new jobless claims number to come in at 430,000.

The four-week moving average, which smooths out volatility in the number, rose by 7,500 last week to 457,750.

Continuing claims rose from 4.57 million to 4.64 million.

Economists suggest the spike in claims could be related to the Easter holiday. Each week, it seems, there's some sort of anomaly that affects the new jobless claims -- the big February snows, the March snapback from the big February snows, the Easter holiday -- so it's hard to get a good handle on the real jobless picture in the U.S.

The official U.S. unemployment rate is 9.7 percent, which was unchanged from February to March. This time last year, the economy was shedding 600,000 jobs per week. On the other hand, in order for job growth to begin, the weekly new jobless claims number to get down to the low 400,000s and stay there.

Follow me on Twitter at @theticker.

Reblog this post [with Zemanta]

By Frank Ahrens  |  April 15, 2010; 8:50 AM ET
 | Tags: Online Communities, Social network, Spain, Trending and Popularity, Twitter, Unemployment, United States, Work  
Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   Del.icio.us   StumbleUpon   Technorati   Google Buzz   Previous: European Central Bank: National debt approaching danger levels across Europe
Next: Preliminary report to Obama: W.Va. mine had 'significant history of safety issues'

Comments

The number of newly laid off people signing up for unemployment benefits rose sharply for the second straight week, suggesting that jobs are still hard to come by even as the economic recovery gains traction.

The Labor Department reported Thursday that first-time requests for jobless benefits rose by 24,000 last week to a seasonally adjusted 484,000, the highest level since late February. Economists were predicting claims would fall.

Still, a government analyst cautioned that the figures were clouded by seasonal adjustment difficulties related to the Easter holiday.

Posted by: micholina | April 15, 2010 9:10 AM | Report abuse

Where's the JOBS!!!!!!!!!

Posted by: Jimbo77 | April 15, 2010 9:48 AM | Report abuse

Lookey me, I'm creating jobs!!! Green Jobs, Sardine Jobs, NASA Jobs and 99 week stay at home funemployument jobs.

YES WE CAN,

King B. Obonehead.

Posted by: Computer_Forensics_Expert_Computer_Expert_Witness | April 15, 2010 9:48 AM | Report abuse

The USA is in a severe depression--regardless of what propoganda the government tries to spoon feed people through the media.

Moreover, bad news just provides an opportunity to give more free taxpayer money to the banks so they can loan it back to us with the highest interest and worst terms while they soak up big profit earning interest.

Hurry, more free taxpayer money for the banks! If we don't hurry the banks may not have another quarter of big profits! "They are too big to fail!"

Posted by: maphound | April 15, 2010 9:53 AM | Report abuse

Jobless claims rising? But, but, O-Dumbo says unemployment wouldn't get over 8%.

ANOTHER LIE FROM THE LIAR IN-CHIEF!

Posted by: rg019571 | April 15, 2010 9:54 AM | Report abuse

Another false story from the WPO meant to undermine the Leader. The Leader and his minions have assured us that the recession is over and things are looking up.

Did you ever notice that bad news economic sytories in the WPO always contain "unexpected" news?

Posted by: JoeDBrown | April 15, 2010 9:58 AM | Report abuse

what happened to the gaint recovery -we turned the corner
obamass plans are working-mass new hirings
162,000 new jobs 2 weeks ago.all cences temp jobs.these were the headlines from the i love obama news and gibbs press releases.now we are loosing more real jobs .the progessive dems work on every wako social issue but have no idea how to run a country and economy.

Posted by: dagner49 | April 15, 2010 10:04 AM | Report abuse

At the same time jobless claims go up, America imports 1.1 million foreign workers a year! Plus, 8 million illegal aliens have jobs while 15 million Americans don't.

Our economy is being run for the benefit of Wall Street and ethnic special interest groups, not the middle class.

Check out these short videos about impact of immigration on unemployment of US citizens:

http://www.youtube.com/watch?v=fgK2AlN3Hiw

http://www.youtube.com/watch?v=X_jjDABMmPA

Posted by: pmendez | April 15, 2010 10:10 AM | Report abuse

HAHA! This is just amazing. How come Obama's "economists" never seem to know what is going on?!? Everytime Obama opens his mouth spewing that his economic policies are working, news comes out with something about "unexpected" or "worse than we thought". What are these people doing? I guess it just goes to show how inept our President and his cabinet are. And just because you have a Harvard degree and can preach like a baptist minister doesn't mean you know how to run a country!

It is time we elect people who know what they are doing, and actually understand the complexities of a global economy. Not some headline press hounds seeking reality show like sound bites!

Posted by: sanmateo1850 | April 15, 2010 10:50 AM | Report abuse

WHERE ARE ALL THE OBAMA SUPPORTING KOOLAID DRINKERS TODAY?

OBAMA IS THE WORST PRESIDENT EVER.

WHERE ARE THE JOBS? I GUESS YOU DON'T NEED ONE IF YOU ARE TAKING ALL YOUR MONEY FROM THE OBAMA THIEVING GOVERNMENT.

Posted by: twotimetuna | April 15, 2010 10:53 AM | Report abuse

As I have been writing for the last many years, US economy will go down and down compared to Europeans, Chinese, etc., as evident by Euro being so MUCH MORE VALUABLE than US Dollar, as evident by so many banks collapsing in US resulting in the massive Government bail outs of the Banks and Autos, etc. etc. UNLESS we address the fundamental problems of the US economy, which problems at their core is due to what Utter Lunatics Republicans in US are and how right-wing (Lying) most of the US Media is that it has allowed them to get away with their Lunacy.

These fundamental problems with US economy are:

1- Our money (Taxes) wasted on unnecessary Wars.

2- Our money (Taxes) wasted on a Gargantuan Military. Considering that US Military budget is larger than the Military budget of all the countries in the World combined, while US economy is not even 15% of world economy any more! !

3- Our money (Taxes) not invested in our people and cities as Europeans do with Universal Single Payer Health Care, Universal Education and many other social services.

More here:
http://anoox.com/blog/Real_News.32414

Posted by: RealNews1 | April 15, 2010 11:02 AM | Report abuse

The new year approaching, click in. Let's facelift bar!
===== htpp://www.smalltrade.net ====
jewerly $20
ugg boots$50
jordan shoes$32
handbag$35
=====http://www.smalltrade.net====
_+++++++_+_+_+_+_+__
__+++__++++

Posted by: itkonlyyou7 | April 15, 2010 11:18 AM | Report abuse

The Keynesian model is literally not allowed to be wrong. Any and all data confirm it.

Posted by: gorak | April 15, 2010 11:18 AM | Report abuse

The new year approaching, click in. Let's facelift bar!
===== htpp://www.smalltrade.net ====
jewerly $20
ugg boots$50
jordan shoes$32
handbag$35
=====http://www.smalltrade.net====
_+++++++_+_+_+_+_+__
__+++__++++

Posted by: itkonlyyou7 | April 15, 2010 11:19 AM | Report abuse

Barry Obongo just announced that the delay in getting the "shovel ready" jobs started was due to a shortage of shovels.

Posted by: lbvanhoy | April 15, 2010 11:27 AM | Report abuse

Better yet we should let the wealthy pay at a lower flat rate. W made a good start in this direction by giving these oligarchs 50% more of a tax cut in reducing their taxes from 39.5% to 35%, a 4.5% point decrease. All other brackets were reduced by 3 percentage points or 50% less. It’s only fair that God’s elect should pay less taxes.

Ronald Reagan, while he was governor of California, tried in 1968 to impose a sales tax on food, the most regressive type of tax. These were all good steps in the right direction. As the Bible says, “To those to whom much has been given, much is expected”.

Posted by: fedupindc | April 15, 2010 11:32 AM | Report abuse

Tis "unexpected" jobless claims news is exactly what Obama and his cronies were "expecting"! Every policy he has used to improve job creation and fix the economy has resulted in just the opposite! This is no mere coincidence. Lavish spending, seven times more than Bush ever did, and the takeover of major corporations, which he has never relinquished, forcing through a healthcare bill that will cost everyone more money, and creating more taxes for small businesses, cap N Trade, You name it! The longer Obama is in office, the more socialism and/or marxism will creep into our system. Those who voted for him were duped and now all of us including our grandchildren will suffer for it! In obama's way of thinking he has us right where he wants us - dependent on the government for everything!

Posted by: donn09 | April 15, 2010 11:41 AM | Report abuse

The truth is, you can always look at things from the bad side and from the good. Or you could try to be objective. From the objective point of view, things could have been much, much worse. We've done some things right, but need to do more. Yes to jobs, jobs, jobs. Yes to financial reform. Yes to controlling healthcare costs and controlling the long term deficit. Yes (and check) to helping people trying to get healthcare coverage.

As I see it, the only people working on fixing things are Obama and some (just barely enough) in the Democratic party. The GOP has opted out and has gone nuclear in opposing him and then carping about how things are still bad and why hasn't Obama done more. It's no use paying any attention to the GOP.

Not to mention the Tea Party. Did anyone see that poll published in the New York Times? Tea Partiers don't know they got a tax break from Obama, and they don't care, they hate him anyway for raising their taxes (though he didn't) and for being a radical socialist (though he isn't). It's absurd, Obama has been the most conciliatory president in a long time. But he's got to do what he's got to do. Somebody has to be an adult around here and clean things up.

As for taxing the rich, people, look around. The rich have gotten much richer than the rest of us over the last 30 years. The rich-poor gap is obscenely big in the US, much bigger than any other modern state. The UK comes a distant second. Don't talk to me about a flat rate and protecting the rich to protect incentives for hard work. I know how to work hard and plenty of others do too, but there's no one that works 1000 times harder than me and therefore "deserves" to be paid 1000 times more than I do. That's what we're talking about here.

Fixing this country is not going to be any one thing. It's going to be a whole bunch of things and it's going to be complicated, messy, ugly. And it's going to take time. I'm going to vote for those who have been working on this, who have some sense and are not just yelling and spitting in the wind.

Posted by: DavidH3 | April 15, 2010 11:55 AM | Report abuse

At the end of every month, the readers get the same old story about the economy - 100,000 jobs created, the unemployment rate remains unchanged, but we are out of the recession. Then they go to the "experts" for bogus forecasts. During the time that the next report is due out (which is monthly), we read the same old stories - "new claims "unexpectly" has risen".
Do you think it's time to ditch the "experts" and do some comprehensive research? People want the real stories. They don't want rosy information at the end of each month and then backtracking on progress. Of course, we will never get the true story. It would undermine this Administration and you would be classified by the same name calling that most of your articles use - racist, birther, un-American.

Posted by: slake2 | April 15, 2010 11:57 AM | Report abuse

the number is up 48,000
but it only increased 24,000.

This must be the new math.

resistance is futile.

obama is a war criminal.

bring out troops home.

teabaggers are racist.

diversity does not include
working middle class americans.

Posted by: simonsays1 | April 15, 2010 12:04 PM | Report abuse

You people blaming Obama are real rocket scientists . You vote for Bush and the Republicans not once but two times , they destroyed the economy and then you blame Obama because he can't wave his magic wand and fix the Bush / Republican destruction in a year . Idiots ! And the Republicans are helping a lot aren't they ? Obstruct all they can , stop Obama from improving things .They want Obama to fail , they said so , to hell with the people and the USA , their party comes firsts. Some of you are so dumb and senseless that it is mind boggling .

Posted by: Koom | April 15, 2010 12:15 PM | Report abuse

Only the Austrian School of Economics predicted this mess and it is the only school of thought that speaks reason in getting out of it. They dominant Keynesian ideas that most people learned in school is going to make the situation worse.

Commodities are flashing red warnings lights on the inflation front. Companies are curtailing hiring new employees due to the "regime uncertainty" that has been unleashed by Washington, D.C. Higher future taxes, the codification of "too big to fail," and the quasi nationalization of a host of industries are among Obama's many sins of omission and commission.

Posted by: AustrianSchool | April 15, 2010 12:15 PM | Report abuse

Dear Koom,

I was a fierce critic of the Bush Administration for almost all the same reasons that I am a critic of the Obama Administration. Despite important differences, Bush and Obama are pursing essentially the same policies.

Posted by: AustrianSchool | April 15, 2010 12:22 PM | Report abuse

Easter is a lagging indicator.

Posted by: Bubbette1 | April 15, 2010 12:41 PM | Report abuse

24,000? This is news? In a country of over 300,000,000 people, that accounts for 0.008% of the population. Staggering figures!

Talk about looking for excuses to bash the Obama administration!!!

.

Posted by: poortrekker | April 15, 2010 1:00 PM | Report abuse

Unexpectedly according to whom? Anyone expecting job growth needs a fresher in econ 101. Unemployment in some parts of the US is approaching depression levels. As a result, home values are plummeting, foreclosures and short sales are everywhere.

Posted by: physicianexec | April 15, 2010 1:49 PM | Report abuse

Do any of the WP geniuses ever consider asking President Obama the following question...
WHY?

Posted by: rteske | April 15, 2010 2:49 PM | Report abuse

Well, let's see. The reason we have high unemployment is because illegal aliens come here to work at jobs Americans won't do. No, it's because taxes on the rich aren't high enough. Oh, maybe it's because we are fighting to keep the bad guys from killing us. Right.
Here's something novel: I manage a business of 47 people. Grew it from nothing 15 years ago with my life savings. My marginal tax rate is close to 40%. I have provided my employees, including a son who I made work his way through college, with health care benefits and a 401k plan. Nine years ago I moved the company from Oregon to Texas because of Oregon's high personal and corporate income taxes and nightmare regulations. Now, my CFO and our outside accounting firm are trying to determine how much higher our taxes are going to be with Obama's health care and higher corporate and personal tax rates. My two outside investors have been after me to relocate the company outside of the U.S. for years. We can do our business from just about anywhere. But, as a former Army officer and a believer in America I have resisted. But, we simply have to consider cutting our payroll given the higher costs of nationalized health care and the possibility of the new energy tax (cap and trade). You people who think we can constantly have bigger government and higher taxes have no idea how hard it is to build a business. I am "rich" now, but I've made jobs for a lot of good, hard-working people. And, I started with virtually nothing. What can possibly make you think business people like me are going to be in a hurry to employ more people when we face such hostility from Mr. Obama and his progressive pals running Congress?

Posted by: LessGovtPlease | April 15, 2010 2:50 PM | Report abuse

If you are one of the unemployed, or just looking for a better job and improvement, it is a bleak, bleak picture.

Now let's see? How many are no longer able to receive benefits each week? How many are working parttime jobs? How many have just given up looking, and are living off someone else? Would you consider that rate to be possibly as high as 20-25%, with 24% being a close figure? Let's see, and this is not the "Great Depression". Now all we need is a drought across our Midlands this summer to make it really come home to people.

Posted by: Tawodi | April 15, 2010 3:10 PM | Report abuse

Unexpectedly? The Obama recession has a ways to good. Was someone expected the tooth fair to fix the problem? What has Obama done that has proven effective in resolving the problem. The key words are "proven effective". The answer is nothing. Think about all those that still are without work. How long will they have to suffer?

Posted by: richard36 | April 15, 2010 3:40 PM | Report abuse

One of the commentators scoffed at this article, saying

"24,000? This is news? In a country of over 300,000,000 people, that accounts for 0.008% of the population. Staggering figures! Talk about looking for excuses to bash the Obama administration!!!"

Well, first of all, the 24,000 represented the jump in claims, not the total claims of 457,750. Annualized, that represents 5.18% of the work population of 106,046,000.

As for 'bashing' the Obama administration, there was nothing in this article that was bashing, as Ahrens presented the facts in as 'dry' a fashion as possible.

It is unfortunate that so many Americas are either extreme left wing nuts or right wing nuts. The American 'center', which represents most of us, are being subjected to violent swings from the left and the right.

Regardless which side prevails, America will continue to 'slip, slip sliding away'.

Posted by: neilc38 | April 15, 2010 4:31 PM | Report abuse

I wish the news media (Washington Post, take note), and the politicians were correct in their constant reporting of "Unemployment at 9.7%, and holding somewhat steady".

The true rate of unemployment in the United States is currently at 21.9% and rising. Just do a search on the phrase "true unemployment rate" and you'll see what I mean.

Posted by: bwshook1 | April 15, 2010 5:21 PM | Report abuse

I am not saying I agree with the path way of the OBAMA administration .However ,most of the criticism should be aimed at the criminals who robbed AMERICA and those who allowed it to happen.The Bush administration allegedly thought the economy was fundamentally sound until he was packing his bags to leave and happen to notice that his banker friends needed a very large loan.The Bush administration never saw the high foreclosures,high unemployment,high deficit,low wages and high prices for goods and services.The recession had nothing to do with unions, spending on entitlement or illegal taking AMERICAN jobs.So far, not one republican has addressed the policies that were enacted by the BUSH administration which nearly destroyed the economic foundation of this country.The republican party seemed as if it is controlled by a dictator ,for if one dare to not follow party line ,he would be consider a traitor whether it was true or not.

Posted by: mars7578 | April 15, 2010 6:03 PM | Report abuse

Sub missions are costly and time consuming. If she's worth ten million, she might as well be worth 100 million. Her happiness is priceless. For accounting purposes put the kids down for 50 million dollars each. That's positive, not in debt for the idiotic losses. People are going to get killed or hurt. It's a rough business as usual. We need recreation for our money. It's some beach and benefits unlimited. We're in fantasy is land now. What would Grandmother thing? Grand Cayman!

Current: Rain Showers
Wind: E at 13 mph
Humidity: 94%

Pack rain gear.

Posted by: tossnokia | April 15, 2010 6:05 PM | Report abuse

Think. Oops. Interesting typo. Perfect now.

Posted by: tossnokia | April 15, 2010 6:10 PM | Report abuse

Think. Oops. Interesting typo. Perfect now. Slow it down and screw it down. Speed it up and screw it up. This shouldn't be legal.

Posted by: tossnokia | April 15, 2010 6:14 PM | Report abuse

Think. Oops. Interesting typo. Perfect now. Slow it down and screw it down. Speed it up and screw it up. This shouldn't be legal. Good thing we have the best lawyers.

Posted by: tossnokia | April 15, 2010 6:15 PM | Report abuse

Big Ben is drawn, quartered and soon to be hanged. Dolts rep for a bad rep. We're badder than you. Give the fools more millions idiots. UE headed up and headless horseman time. You won't escape with your money. You'll have your worthless life to look back on. Sports agents. What can you do? The game is deadly.

Posted by: tossnokia | April 15, 2010 6:27 PM | Report abuse

The Post is lively and life is good. I have a few brain dead neighbors. Arlington or bust. This neighborhood is too stucko and the school is going bust on fraud.

Posted by: tossnokia | April 15, 2010 7:02 PM | Report abuse

The new "normal" rate of unemployment in a 3>4% GDP growth US economy is going to be 8%. Get used to that. There is no way we'll ever see a "normal" of 5% again. Too many firms have realized they were "over-manned" and now with fewer are driving higher levels of productivity. The numbers it would take per month between now and 2015 to achieve anywhere near 5% prove the point; ain't gonna happen. What's really required is export growth--anything that can assist that to happen will be beneficial.

Posted by: dana843 | April 15, 2010 9:00 PM | Report abuse

How can we possibly be surprised at increasing jobless numbers? Corporate America will not employ Americans who are not willing to work for near slave labor wages, nor until Congress eliminates child labor and pollution control laws, and until we essentially return to the glory days of human exploitation prior to the Civil War.

Humans are god's gift to enterprise. God intended that most humans be enslaved by the elite, that the wealthy might prosper and live lives of luxury and profligacy beyond the imagination of most Americans.

An acquaintance receives $50,000 per month pursuant to being the heir of a fast food mogul. The people who support her lavish lifestyle make $8 per hour, work in heat, grease, and stink with no benefits. She needs help tying her shoes, has no marketable skills, and uses the money to fuel her gas-hog cars and run her four homes and two boats.

She does contribute to the Republican Party, however, so there is a redeeming feature.

Posted by: rwruger | April 15, 2010 10:28 PM | Report abuse

Could it really be true, that giving a financial elite the power to determine the quantity of money created out of the vapors of our debt whenever we sign interest-laden promissory notes to them, is not the most stable long-term solution to the question of what constitutes a valid medium of exchange in a division of labor economy?

Naaaah, they're the experts, imbued with probity and ethics and intelligence galore, they wouldn't screw us over for gobs of ill-gotten interest payments to fund a lavish and venal lifestyle.

We're just the dumb beasts who labor and produce, we couldn't possibly understand their abstruse manicured world.

I be so grateful to you, Massas!

Posted by: acudoc | April 15, 2010 10:50 PM | Report abuse

come on november 2010 they are going down it fells like 1776 by berry!2012

Posted by: sorryhaters | April 19, 2010 9:49 PM | Report abuse

The comments to this entry are closed.

 
 
RSS Feed
Subscribe to The Post

© 2010 The Washington Post Company