Jobless Claims Move Higher

[OhioChick]

Source: AP

08.09.07, 10:15 AM ET

WASHINGTON - The number of newly laid off people signing up for jobless benefits rose last week, suggesting that employment conditions while softening a tad still remain good.

The Labor Department reported Thursday that new applications filed for unemployment insurance increased by a seasonally adjusted 7,000 to 316,000 for the week ending Aug. 4. The increase left claims at their highest point since late June.

Economists were predicting claims would be lower, around 310,000 for last week.

Still, claims are lower now than they were a year ago, when they stood at 319,000.

In other economic news, the back-to-school shopping season had a disappointing start in July as people turned cautious amid turmoil on Wall Street, harder-to-get credit and the worsening housing slump.



Read more: http://www.forbes.com/feeds/ap/2007/08/09/ap4003888.html

[zabet]

1. They always fail to acount for..

the unemployed workers who no longer are eligible for unemployment.
Since they no longer draw benefits, it gives the false impression that
they are no longer un-employed.

Just some more of that mathemagician work to fool the general public.

[OhioChick]

2. You're Absolutely Right. n/t

[CrispyQ]

3. I know three of them. --nt

[Megahurtz]

4. Oh but what about all that "Robust Growth in Jobs"

>>>"Mr Bush pointed to robust growth in jobs, wages and gross domestic product since 2003 as evidence that his administration's tax-cutting agenda was working."<<<

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x2946567

and:

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x2946819

:rofl: Seriously I don't know whether to laugh or cry. :cry:

:dilemma: