Jobless Claims Explode To Highs Not Seen Since Last August!!!

DJ DATA SNAP: US Jobless Claims +43K To 474K In Apr 30 Week

By Jeff Bater and Luca Di Leo
Of DOW JONES NEWSWIRES

WASHINGTON (Dow Jones)--New claims for jobless benefits unexpectedly surged
last week to their highest level since last summer, according to data giving
another sign of the economy's struggle in creating jobs.

Initial unemployment claims increased by 43,000 to a seasonally adjusted
474,000 in the week ended April 30, the Labor Department said Thursday in its
weekly report.

The prior week's figure was revised to 431,000 from an originally reported
429,000.

Economists surveyed by Dow Jones Newswires had forecast claims would fall by
19,000 in the latest week. The level of 474,000 was the highest since the week
ending Aug. 14, 2010.

A Labor Department analyst attributed the surprising increase to one-time
administrative factors, including additional layoffs in New York state due to
spring break, which doubled the number of claims in the state. Other reasons
cited were a new emergency benefit program in Oregon, and additional automobile
industry claims.

"I don't think it's economic factors," the analyst said.

http://www.bloomberg.com/news/2011-05-05/jobless-claims-in-u-s-unexpectedly-jump-due-to-special-factors.html
http://www.reuters.com/assets/print?aid=USTRE73D8GJ20110505

HAHAHAHA how did adding additional weeks to existing claims, become new claims???? Something doesn't seem right with that statement.... Spring Break layoffs??? So isn't Spring break like a week to 2 weeks???? How can you claim UI for a 1-2 weeks break???? Okay I get they have to come up with different reasons for "The UNEXPECTED rise in new claims". The last statement is proof that they can't tell the truth.... It IS ECONOMIC FACTORS.....

I think the first 4 letters in ANALyst best describe his statement!!

I'll do it on this forum too.... I told you, I told you!! Watch the unemployment new claims cycle now hat gas prices has risen to out of control prices. The drivers have cut back driving and spending and Obama better wake up and smell the roses. As I said Bin Ladens death was a temp. victory and will not save his presidency, its time to control gas prices with something more than saying stop driving those SUV'S! As I said that doesn't fix gas prices and its another Obama quick fix that does nothing. But it allowed him to make another speech.. He is so egotistical he honestly thinks his speeches create magic and fixes things! American's are patient but not stupid Mr. President. Things .. Its time for congress and the president to turn things around and fast! Or they'll all be fired.. And 12 yr. olds may become president, maybe they can do a better job!

I do not apologize for my harshness.... After I and many more are suffering from failures, no reason to say I am sorry! Its a Over promise and under deliver president... Its suppose to be under promise and over deliver!!!!!

I think Friday they reveal the new unemployment rate??? Watch it will go down among the 4 weeks of higher new jobless claims..
When new claims went down to 379,000 a few weeks ago, the unemployment rate went from 9.6% down to the 8.8%.. Now that we have had 4 weeks in a row with new claims to see the new unemployment rate will be interesting. They will figure out how to make it go down. But add all of the statistics new jobs created are out paced X2 and yet new job creations 179,000 in April is nothing when new jobless claims were over 200K. More losing jobs than finding them.

nuttin2lose wrote:I think the first 4 letters in ANALyst best describe his statement!!

Heads up their butts!

Quiet, Did i read that you found employment... If so that is great!!!!

unemployed2long/1208 wrote:
Heads up their butts!

AKA Cranial rectum inversion.

Really.....like we all did not see this coming....I mean......gas prices are rising......did they really think that this would not affect the economy......I am sick of them spinning these numbers as always being surprising or unexpected......Surprising or unexpected for whom.....The economy is going down the drain and there is no way that they are going to be able to keep sugar coating it.......

They went up because people are losing the only jobs that they could get which were temporary. Noone sees the thousands that have run out of unemployment still looking for jobs. What a shame that the public doesn't see the real job situation.

they'll see it soon enough!

KSCHIEF522 wrote:They went up because people are losing the only jobs that they could get which were temporary. Noone sees the thousands that have run out of unemployment still looking for jobs. What a shame that the public doesn't see the real job situation.

More people need to speak up!!!! We need to be heard!!!

" UNEXPECTED " and " SURGED ". Who reports this crap, Biden ?