{"id":3421,"date":"2010-07-01T10:39:36","date_gmt":"2010-07-01T14:39:36","guid":{"rendered":"http:\/\/www.jasetaro.com\/blog\/?p=3421"},"modified":"2010-07-01T10:44:33","modified_gmt":"2010-07-01T14:44:33","slug":"weekly-initial-jobless-claims-rise-unexpectedly-yet-again","status":"publish","type":"post","link":"https:\/\/www.jasetaro.com\/blog\/2010\/07\/01\/weekly-initial-jobless-claims-rise-unexpectedly-yet-again\/","title":{"rendered":"Weekly Initial Jobless Claims Rise… Unexpectedly… Yet Again…"},"content":{"rendered":"

This is getting silly, it seems like every time new jobless claims rise the media uses words like “unexpected’ or “surprising” to describe the news… There’s nothing surprising or unexpected about this week’s jobless report, not after reports on plunging new home sales<\/a> in May, and the sharp drop in consumer confidence<\/a>.<\/p>\n

Suffices to say and up tick in new jobless claims was entirely expected by anyone with half a brain… and that’s exactly we got<\/a>:<\/p>\n

WASHINGTON (MarketWatch) — The number of people filing first-time claims for unemployment benefits climbed 13,000 in the latest week to 472,000, indicating continued weakness in the labor market.<\/p>\n

Although claims have fallen 22% from one year ago, they are up 4% since the start of 2010, according to data from the Labor Department. Weekly claims typically would have to fall below 400,000 to signify improved nationwide hiring trends.<\/p>\n

Economists surveyed by MarketWatch had expected initial claims to fall to 455,000. See our complete economic calendar and consensus forecast.<\/a><\/p>\n

The four-week average of initial claims — a better gauge of employment trends than the volatile weekly number – rose by 3,250 to 466,500, the highest level in almost three months.<\/p>\n

While claims tend to align with job growth over the longer term, the weekly data is prone to sharp fluctuations. A clearer picture of job growth will emerge Friday when the government releases its monthly employment report for June.<\/p><\/blockquote>\n

Tomorrow’s monthly unemployment report should be interesting, economists are reportedly expecting the economy will have added 110,000 jobs in June, excluding the departure of temporary Census workers from government payrolls. Personally, I’m kind of pessimistic about about those forecasts, most of today’s economic news today is discouraging… Manufacturing declined<\/a> in June, so did construction spending<\/a>, and pending home sales<\/a>. All in all this is look more like a dead cat bounce than a recovery.<\/p>\n

Ed’s got a great chart illustrating just how unexpected today’s news is over at Hot Air<\/a>.<\/p>\n

What say you:<\/p>\n

[poll id=”14″]<\/p>\n","protected":false},"excerpt":{"rendered":"

This is getting silly, it seems like every time new jobless claims rise the media uses words like “unexpected’ or “surprising” to describe the news… There’s nothing surprising or unexpected about this week’s jobless report, not after reports on plunging new home sales in May, and the sharp drop in consumer confidence. Suffices to say […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[26,7],"tags":[1025,1023,1026,1024,706],"class_list":{"0":"post-3421","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-economy","7":"category-politics","8":"tag-construction","9":"tag-consumer-confidence","10":"tag-home-sales","11":"tag-manufacturing","12":"tag-unemployment","13":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/pfpI7-Tb","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":3239,"url":"https:\/\/www.jasetaro.com\/blog\/2010\/02\/25\/initial-jobless-claims-rise-unexpectedly-again\/","url_meta":{"origin":3421,"position":0},"title":"Initial Jobless Claims Rise… Unexpectedly… Again","author":"Jeff","date":"February 25, 2010","format":false,"excerpt":"Here we go again, another week and another, um, \"unexpected\" rise in initial jobless claims: The number of new claims for unemployment benefits jumped unexpectedly last week as heavy snows caused layoffs to rise. In addition, many state agencies in the mid-Atlantic and New England regions that process the claims\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3199,"url":"https:\/\/www.jasetaro.com\/blog\/2010\/02\/04\/first-time-jobless-claims-rise-unexpectedly-again\/","url_meta":{"origin":3421,"position":1},"title":"First-time Jobless Claims Rise Unexpectedly… Again","author":"Jeff","date":"February 4, 2010","format":false,"excerpt":"This is getting ridiculous, and as predictable as sunrise... Just how many times can new jobless claims rise \"unexpectedly\" before the Associated Press realizes there's nothing unexpected about it: The number of newly laid-off workers filing initial claims for jobless benefits rose unexpectedly last week, evidence that layoffs are continuing\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3225,"url":"https:\/\/www.jasetaro.com\/blog\/2010\/02\/18\/new-jobless-claims-rise-unexpectedly-again\/","url_meta":{"origin":3421,"position":2},"title":"New Jobless Claims Rise… Unexpectedly… Again…","author":"Jeff","date":"February 18, 2010","format":false,"excerpt":"Here we go again... another week, another \"unexpected\" rise in new jobless claims: The number of U.S. workers filing new applications for unemployment insurance unexpectedly surged last week, while producer prices increased sharply in January, raising potential hurdles for the economic recovery. Initial claims for state unemployment benefits increased 31,000\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2602,"url":"https:\/\/www.jasetaro.com\/blog\/2009\/08\/13\/retail-sales-fall-jobless-claims-and-foreclosures-rise-in-july\/","url_meta":{"origin":3421,"position":3},"title":"Retail Sales Fall, Jobless Claims and Foreclosures Rise In July","author":"Jeff","date":"August 13, 2009","format":false,"excerpt":"Recovery, what recovery??? There's no good news in the economic data released today... If President Obama and the Democrats in Congress where hoping improving economic indicators would help rescue their health care reform plans there out of luck. Retail Sales fell 0.1 percent last month, while new jobless claims increased\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3175,"url":"https:\/\/www.jasetaro.com\/blog\/2010\/01\/14\/train-wreck-retail-sales-fall-jobless-claims-rise-foreclosures-set-record-and-the-dollar-crisis\/","url_meta":{"origin":3421,"position":4},"title":"Train Wreck: Retail Sales Fall, Jobless Claims Rise, Foreclosures set Record and the Dollar Crisis","author":"Jeff","date":"January 14, 2010","format":false,"excerpt":"Whew, I can't believe I got all that in headline! Anyone who has read this blog for any period of time knows I'm a pessimist on the economy, in short I don't see any reason to be hopeful: Retail sales unexpectedly fell in December, leaving 2009 with the biggest yearly\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3819,"url":"https:\/\/www.jasetaro.com\/blog\/2011\/03\/04\/jobless-rate-falls-to-8-9-as-192k-jobs-added\/","url_meta":{"origin":3421,"position":5},"title":"Jobless Rate Falls to 8.9% as 192K Jobs Added","author":"Jeff","date":"March 4, 2011","format":false,"excerpt":"Today's jobless report is a good news bad news thing, first the good news... From Bloomberg: U.S. employers added 192,000 workers in February, amid an improving economy and more seasonable weather, and the unemployment rate unexpectedly declined to 8.9 percent, the lowest level since April 2009. So what's the bad\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/posts\/3421","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/comments?post=3421"}],"version-history":[{"count":0,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/posts\/3421\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/media?parent=3421"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/categories?post=3421"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/tags?post=3421"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}