Jobless claims rise -350,000 filed - expected was only 338,000

[papau]

The number of people who remained on state unemployment rolls after claiming an initial week of jobless claims edged up to 2.883 million in the week that ended Sept. 11 from 2.878 million the week before.

Peoples Energy Corp., owner of Chicago's natural gas utility, cut 110 jobs.

First Indiana Corp., the holding company for First Indiana Bank, said last week it eliminated about 70 jobs.

Kerry has noted that the payroll report shows that 913,000 jobs have been lost since Bush took office in 2001.

Bush/Treasury Secretary Snow continue to focus on the payroll reports 1.7 million jobs created since August 2003 - but half those jobs are a Bush guess that almost 800,000 new "at home"jobs have been created during that period.

http://www.dol.gov/opa/media/press/eta/ui/current.htm

September 23, 2004 UNEMPLOYMENT INSURANCE WEEKLY CLAIMS REPORT

SEASONALLY ADJUSTED DATA

In the week ending Sept. 18, the advance figure for seasonally adjusted initial claims was 350,000, an increase of 14,000 from the previous week's revised figure of 336,000. The 4-week moving average was 341,000, an increase of 2,000 from the previous week's revised average of 339,000.

The advance seasonally adjusted insured unemployment rate was 2.3 percent for the week ending Sept. 11, unchanged from the prior week's unrevised rate of 2.3 percent.

The advance number for seasonally adjusted insured unemployment during the week ending Sept. 11 was 2,883,000, an increase of 5,000 from the preceding week's revised level of 2,878,000. The 4-week moving average was 2,881,500, a decrease of 1,000 from the preceding week's revised average of 2,882,500.


UNADJUSTED DATA

The advance number of actual initial claims under state programs, unadjusted, totaled 275,103 in the week ending Sept. 18, an increase of 24,374 from the previous week. There were 301,217 initial claims in the comparable week in 2003.

The advance unadjusted insured unemployment rate was 2.0 percent during the week ending Sept.11, unchanged from the prior week. The advance unadjusted number for persons claiming UI benefits in state programs totaled 2,479,663, an increase of 13,617 from the preceding week. A year earlier, the rate was 2.4 percent and the volume was 3,034,012.

http://money.cnn.com/2004/09/23/news/economy/jobless_claims/index.htm

Jobless claims rise
Labor Department shows 350,000 filed for initial benefits, topping forecasts for period.
September 23, 2004: 8:33 AM EDT

NEW YORK (CNN/Money) - <snip>
The Labor Department report showed 350,000 filing initial jobless claims in the week ended Sept. 18. That's up from the revised 336,000 who filed the previous week. Economists surveyed by Briefing.com had a consensus forecast of 338,000

[bluestateguy]

1. One more jobs report before the election

I wonder if the Bush people have been planning to put the fix in for this one. In other words, have the jobs reports for the summer be mediocre, and then have the statisticians "create" 500,000 jobs for the October report, so as to make the "recovery" all the more amazing.

[ps1074]

9. of course they plan to do it

Why else do you thnik they changed the first debate from economy to foreign policy and left the economy debate for after the September jobs report?

You would think they will go with their weakness first and then in the closing weeks of the campaign go with their 'strenght'. they flipped this one, so they can be seen strong both with foreign policy and with economy, as the jobs report will be nothing less than rosy rosy rosy...

[JohnnyCougar]

22. the sky is falling!

They're not always the ones in control. What if our side changed that as a trade off for the sit down debates? That would be fair. I doubt the jobs report will be very good.

[mhr]

2. Well, Well, Well - Seems That The Optimists Be Damned

Still Unemployed Here.

Going on 52 months. Sent three resumes this morning. Well Past 2,500 resumes out the door. Feedback, NONE.

If anyone is interested in hiring a starving professional, please PM.

CV includes:
BSEE
MBA
Commercial Pilot
Honorably Discharged Naval Officer (I did serve BTW)

[MARALE]

7. Get a job at a defense contractor

Really, I am a EE that worked for one. If you want to move I may be able to get you one there. I work as a Civil now at a municipal plant because there were no EE jobs where I wanted to live. I like the change though, don't make half the money I used to. My brother is a ME looking for work in Chicago, no luck for him yet. Good luck and keep trying.

[kysrsoze]

3. I don't know how they could show 1/2 million jobs created

when we're still at the 350K per week level. There's no way it could add up. Besides, many of the "new jobs" are low-paying and that's been in the news the last couple of weeks. Although I hate to see bad news, in the long run we may be much better off for it.

[papau]

5. I agree - GDP growth without jobs = "productivity" - but that is just

words.

It is not likely in real life.

[ozone_man]

18. Jobs created is a different statistic than new unemployment claims.

I think 300,000 new claims per month is typical in a normal economy and 150,000 new jobs per month is necessary to keep pace with population growth. So 300,000 jobs would be a very good report or fewer than 300,000 new claims.

[cthrumatrix]

4. Economy is the number 1 issue in the latest NBC poll...above terror

[nickinSTL]

6. 'at home' jobs?

'but half those jobs are a Bush guess that almost 800,000 new "at home"jobs have been created during that period'

Right, like my fiancee is now a 'writer', because she wrote a novel, which might soon be e-published and earn her a whopping $45.

Opposed to her $60000/year programming job she lost 3 years ago.

So, they 'guess' that new 'at home' jobs have been created...so their jobs numbers don't look like such sh!t.

[mrbassman03]

20. Like my new janitorial job...

Cleaning my toilet and picking up my living room... what a living.

[spinbaby]

8. Have they blamed hurricanes yet?

[Beetwasher]

10. Yup, They Sure Did

Hurricanes Lead to Spike in Jobless Claims

http://story.news.yahoo.com/news?tmpl=story&ncid=716&e=6&u=/ap/20040923/ap_on_bi_go_ec_fi/jobless_claims

[gratuitous]

11. Caught about 30 seconds of CNN this morning

You know the line: "Well, the president doesn't have as much effect on the economy as people think. He gets more praise than he deserves when the economy is going well, and more blame than he deserves when it's not going so well."

Yup, we at CNN can't tell the difference between the booming economy of the 1990s, when Greenspan kept raising interest rates to head off "irrational exuberance" and Clinton's policies kept paying off even so, and the economy under Stupidhead, which has seen a net loss of jobs for the first time since Hoover, despite Greenspan lowering interest rates to absolute rock bottom.

I propose that CNN just quietly disband and release its cable slots to new outfits that will hire people who can actually distinguish their ass from a hole in the ground.

[sandraj]

23. lol, great post

n/t

[Wendigo]

12. Last month

Did the claim of 144,000 new jobs in August (reported Sept. 3) ever get adjusted downwards?

[papau]

13. The next two months will "adjust" the August report - so first week in Oct

(meaning the first Friday) we should see the first "adjustment".

[newyawker99]

16. Hi Wendigo!!

Welcome to DU!! :toast:

[Supersedeas]

14. Adjust adjust adjust -- while the Networks scream about Rather

[HysteryDiagnosis]

15. You can add 1 more to that list..... n/t

[mbperrin]

17. Look at that * job machine go!!!!

There go more jobs!!!

[trueblew]

19. They Are Just Guessing...

President Flop will be taking credit for the roaring economy once President Kerry is elected. Has there ever been a President who has said "um", "uh" and "ah" more than Dubya?

[dflprincess]

21. And I was one of them

UnitedHealth Group laid off 250 - 300 people the count depends on if you take the number they gave us (250) or the one printed in the Minneapolis paper (300). Rumors are there are more layoffs planned there in the next couple of months.