Aug 11

Jobless claims in U.S. rise to 417,000

By Jeffry Bartash | MarketWatch | Aug 25, 2011

The number of Americans seeking new jobless benefits rose for the second week in a row as thousands of phone workers at Verizon Communications filed claims, government data showed.

New applications for U.S. unemployment compensation rose 5,000 to 417,000 , the Labor Department said Thursday. Initial claims from two weeks ago were revised up to 412,000 from an original reading of 408,000. Continue reading →

Jun 11

Jobless claims hold above 400,000 for 9th straight week.

Initial jobless claims came in at 427,000 last week – more than expected of course.  This is the ninth straight week that the number has exceeded the key psychological level of 400K.

Unemployment ticked up to 9.1% in May.  During that month 54,000 jobs were created.  Better than half of those we’re jobs at McDonald’s.

May 11

Unemployment back on the rise

The unemployment rate for April rose to 9.0% reversing the ever so slight down trend seen since November.  Of course, our friendly league of economic forecasters was expecting the number to hold at 8.8%.  The upside is 244,000 new jobs were created.  Unfortunately, 62,000 of them came from McDonald’s.

I guess the Fed & C0. were hoping that so many who left the workforce did not return to looking for a job.  The headline unemployment number does not include those that have given up looking for a job, nor those that have settled for part time work.  When including them, the real under/unemployment is closer to 22 or 23%.


May 11

Can you say Stagflation?

Bloomberg:  First-Time Unemployment Claims in U.S. Unexpectedly Increase to 474,000 -That’s a 10% jump from the previous week and the highest since August.  It’s also 64,000 higher than so-called economists expected.  The four-week moving average climbed to 431,250.

Bloomberg:  Food Prices Rise to Near-Record as Inflation Accelerates – But since we exclude food from the “core” inflation rate, nothing to see here …. keep it moving.

Apr 11

Economic Update

For the week ending April 23, 429,000 people applied for new unemployment benefits.  This is a jump of 25,000 from the previous week.  It is the highest total since January.  The four-week average rose for the third straight time to 408,500.  Economists – you know, the ones like Ben Bernanke – expected claims to drop to 390,000. Continue reading →

Apr 11

Jobless Claims rise as expected; Inflation Pressure Grows

by Reuters | CNBC | April 14, 2011

New claims for unemployment benefits unexpectedly rose last week, bouncing back above the key 400,000 level, while core producer prices clumbed faster than expected in March, government reports showed on Thursday. Continue reading →

Apr 11

Gallup: Underemployment Rises to 20.3% in March

by Jenny Marlar | Gallup | April 1, 2011

Unemployment saw a slight but insignificant decline

Gallup Daily tracking finds that 20.3% of the U.S. workforce was underemployed in March — a slight uptick from the relatively flat January and February numbers. Continue reading →

Mar 11

Oil Ends at 2 1/2 Year High Near $107 a Barrel

by Reuters | CNBC | March 31, 2011

U.S. crude oil futures closed Thursday at a fresh 2 1/2 year high, as Middle East protests and the conflict in Libya fueled supply worries in crude markets. Continue reading →

Mar 11

Weekly U.S. jobless claims dip 6,000 to 388,000

by Jeffrey Bartash | MarketWatch | March 31, 2011

New applications by people seeking unemployment benefits edged lower last week after taking into account revisions in the how the U.S. government calculates the dataContinue reading →

Mar 11

ADP Estimates U.S. Companies Added 201,000 Jobs in March

by Bob Willis | Bloomberg | March 30, 2011

Companies in the U.S. added more workers in March, a sign the labor market may be strengthening, data from a private report based on payrolls showed today. Continue reading →