This is getting so old. Initial jobless claims last week jumped to 428,000. As usual, economists were caught off guard.
Bloomberg: US Jobless Claims Unexpectedly Rise to 428,000, Highest Level Since June
Applications for U.S. unemployment benefits unexpectedly rose last week to the highest level since the end of June, underscoring the risk of further weakness in the labor market.
Jobless claims climbed by 11,000 to 428,000 in the week ended Sept. 10 that included the Labor Day holiday, figures from the Labor Department showed today in Washington. Economists surveyed by Bloomberg News projected a drop in claims to 411,000, according to the median forecast.
Reuters: US jobless claims post surprise increase last week
Applications for unemployment benefits climbed to 428,000 in the week ending Sept.10 from an upwardly revised 417,000 the prior week, the Labor Department said.
It was the second straight week in which claims rose. Wall Street analysts had been looking for a dip to 410,000.
Excluding one week in early August, claims have held above 400,000 since early April. A Labor Department official said there was no discernible effect from Hurricane Irene or other storms
Had it not been for Labor Day, it may have been even worse, since there was one less day to file claims.
The president will be delivering another finger-pointing speech any moment now.
Tags: jobless claims, surprise, unexpected
Another really bad number. Yeah this “unexpectedly” business gets old fast.
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So, it looks like the Wall Street analysts were wrong for the umteenth time. Would that be the same WS Analysts who were thinking that screwy mortgages were “unexpected” ?
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This confirms by way of these continuous indications of how worthless the great majority of these government “departments” are. We pay for them to be “right” and this level of performance isn’t tolerated in the free market private sector without consequence. It certainly follows that promotions at the Labor Department must be in order.
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After consuming a plate of sausage gravy and homefries for breakfast , then a couple of fish sandwiches at lunch followed by Marion Ohios own Tubbys pizza for dinner I unexpectedly had a huge bowel movement . Who could have predicted such sh!t?
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