Jobless Claims Jump

[mikesilvia]

What we need is another $4 trillion stimulus. It worked so well last time ...

The number of Americans filing for jobless aid rose last week to the highest level since January, a development that could raise fears the labor market recovery was stalling after job creation slowed in March.

http://www.cnbc.com/id/47027476

[Star_Cards]

did this article even state the rate? I didn't see it so not sure if I just overlooked it. I do find it odd that instead of saying the rate they deem in "the highest since" january. I'm not sure if that was used to make it sound like it had risen a ton or not because I didn't see the rate.

god no! no more stimulus unless it's stimulus in the form of individuals getting back actual tax dollars they paid into the system back.

[duane1969]

I said a long time ago that this whole "creating jobs" thing was going to be a fiasco. You can not create jobs. All of the jobs that were created were funded by temporary funding. As that funding runs out the employers will not be able to keep those employees. The net result will be a bunch of unemployed people who were working "created" jobs.

[pghin08]

You guys know that the typical action used to bring an economy out of recession is more spending and lower taxes, right? But oh yeah, nevermind the fact that we've seen decent job growth this year, and that many economists say the unemployment rate would have gone well over 10% with no stimulus at all. Things are bad because the jobless claims jumped 13,000 in a week. Come on guys.

[duane1969]

did this article even state the rate? I didn't see it so not sure if I just overlooked it. I do find it odd that instead of saying the rate they deem in "the highest since" january. I'm not sure if that was used to make it sound like it had risen a ton or not because I didn't see the rate.

god no! no more stimulus unless it's stimulus in the form of individuals getting back actual tax dollars they paid into the system back.

It isn't the unemployment rate that they are talking about, it is the number of claims for unemployment benefits that rose which implies a rise in the number of unemployed. The actual unemplyment rate won't show an increse for another week or two.

According to the US Dept. of Labor the number of claims was The number of unemployment claims in January was 390,000. Since then the number has bounced between 364k and 378k. They expected it to dip to 355k for March but last weeks report of new claims reversed their thinking.

[duane1969]

You guys know that the typical action used to bring an economy out of recession is more spending and lower taxes, right? But oh yeah, nevermind the fact that we've seen decent job growth this year, and that many economists say the unemployment rate would have gone well over 10% with no stimulus at all. Things are bad because the jobless claims jumped 13,000 in a week. Come on guys.

You do know the jobless rate was over 10% until a few months ago, right? Claiming that the stimulus money, which was released 2 years ago is what is "fixing" the unemployment rate now is a stretch. From what I have read and heard, this is just all part of a natural fluctuation that would most likely occur with or without stimulus. As the economy goes through it's dips and rises so will the unemployment rate.

I don't think that "things are bad" because of a jump, but it contradicts the Obama administration's claim that we are experiencing a steady improvement in the jobs market.

[pghin08]

You do know the jobless rate was over 10% until a few months ago, right? Claiming that the stimulus money, which was released 2 years ago is what is "fixing" the unemployment rate now is a stretch. From what I have read and heard, this is just all part of a natural fluctuation that would most likely occur with or without stimulus. As the economy goes through it's dips and rises so will the unemployment rate.

I don't think that "things are bad" because of a jump, but it contradicts the Obama administration's claim that we are experiencing a steady improvement in the jobs market.

I disagree with that in a big way. I'm pretty much a Keynesian economist. A mixed economy works best, where the government steps in as a stabilizer when needed. That's what happened here, the markets were spiraling out of control, and the government/taxpayers had to clean up the mess. The stimulus doesn't anger me half as much as the fact that those on Wall Street who helped cause this mess got off without even a slap on the wrist.