Overall Jobless Rolls Top 5.5 Million

[sabra]

Source: CBS News/AP

652,000 First-Time Filers Push Total Figure To 5.56 Million, Far Beyond Analyst Expectations

(AP) The number of laid-off Americans filing initial jobless benefit claims rose slightly last week while the number of people continuing to claim benefits set a record for the ninth straight week, the Labor Department said Thursday.

The figures indicate that the labor market remains weak even as some other recent economic indicators have come in better than expected.

The Labor Department said first-time claims for unemployment insurance rose to a seasonally adjusted 652,000 from the previous week's revised figure of 644,000, slightly higher than analysts expected. A year ago, the number stood at 367,000.

The total number of people claiming benefits for more than a week jumped 122,000 to 5.56 million, significantly higher than analysts' projections of 5.48 million and the highest on records dating back to 1967. The continuing claims data lag initial claims by a week.

Read more: http://www.cbsnews.com/stories/2009/03/26/business/main4894158.shtml?tag=topStories;secondStory

[Hassin Bin Sober]

1. But but but.. I thought the stock market was up and happy days were here again.

[northernlights]

2. 5.56 million is NOT the total jobless

It's the total collecting unemployment.

It doesn't count those of us who fell off the unemployment rolls last week.
It doesn't count those of us who fell off the unemployment rolls long ago.
It doesn't count those who are working part time and desperately need full time to support themselves.

[LiberalEsto]

3. And that doesn't count those of us who can't collect

My last work assignment was in September. I'm employed as a part time paid-per-diem writer at a small pr firm, but the clients just aren't coming in. Can't find freelance work this year because there are literally hundreds of unemployed journalists searching for the same thing. Can't work at the supermarket because I have arthritis and fibromyalgia (and they're cutting the hours of their regular employees). Fortunately my husband has a job, but I'm 57 and don't know whether I'll ever find work again. Forget about going back to newspaper reporting -- 5 of the 6 papers I once worked for have gone under.

I can't file for unemployment benefits because I'm not actually unemployed. Even if I could collect, it would be a pittance, because I earned less than $2000 last year.

Now figure in the hundreds of thousands of people in similar types of situations, and those whose benefits have expired. And the college students who can't find even part time jobs.

My daughter, a college student, is trying to get a job as a dog walker. She found out yesterday that she is competing with a number of other candidates for a single opening at the dog walking business. What are we coming to when people are lining up to be dog walkers?

I am so depressed about everything.