Weekly Initial Unemployment Claims: 502 Thousand
Submitted by
CalculatedRisk on Thu, 11/12/2009 - 5:38am (39 comments)
in
Shopping at Amazon?
Wait! If you click on the Amazon banner link at the top of the page first, HCN will get a percentage of anything you purchase for 24 hours!
Open predictions
Our local book authors
User login
Who's online
There are currently 41 members and 180 guests online.
Currently online
- Rob Dawg
- Comrade Alexei Mikhailovich
- Gatsby
- fudge_hend
- CalculatedRisk
- poic
- Cobradriver
- shill
- Gary
- Mook
- Pearl
- JP
- azurite
- 1 currency now -yogi
- Basel Too
- Snakeeyes
- Vic
- ac
- ResistanceIsFeudal
- Whiskey
- NGBROI
- Cinco-X
- Mert717
- sum luk
- Speed
- curious
- Elvis
- MikeCLT
- otishertz
- energyecon
- JBR
- Plains Paris
- Dickeylee
- Comrade Elmer Fudd
- Tool of the Fed
- Eric
- Comrade Janošik
- Buck Eschaton
- dingojoe
- Antipodes
- Bubblisimo Gerkinov
Recent Recommendations
grinding to a fine consistency
Prosperity is right around the corner.
Another week, another half a million jobless - UGH!
Got cardboard living quarters?
"The Great Depression, like most other periods of severe unemployment, was produced by government mismanagement rather than by any inherent instability of the private economy."
-- Milton Friedman
Do these figures include reductions in hours?
Agreed. We're only slightly above the peak level of the 1983-2007 period.
the key is "saved and or created" blah blah blah
Sometimes there is such a thing as too much information
I think economists make this mistake continually.
Oh...and I am getting SICK of the "better than expected" crap.
Things need to actually get BETTER...not less WORSE less faster
DOW 6000 wrote:
One can easily have a massive amount of information and virtually no knowledge. I see it all the time.
At this point, I think we're experiencing survivor bias, since the weakest companies (besides the banks) have already fallen. The real question is going to be job creation. Does that come out tomorrow, and if so, why? Do they want to be able toot their horn about fewer losses without having to explain an even greater number of people without jobs, and fewer people working and paying taxes?
DOW 6000 wrote:
Applause!
DOW 6000 wrote:
"less WORSE less faster"- LOL
Shill--You do realize that the government that got us into this situation is not the same one struggling to get us out of it?
Comment by shill from thread 'Fannie, Freddie, Counterparty Risk and More'
Shill,
Is this due to more people working (probably not) or more folks dropping off the other side?
Here are the ACTUAL unemployment numbers, YTD, not seasonally adjusted. Please note that for the FIRST time this year, this week the number is actually LOWER than this week last year. Small consolation when you see the numbers, and it tells you that at this time LAST year people knew there was NO holiday season - just like this year. Think about it, people ARE NOT hiring for a season that won't exist, so these numbers are the continuation of a horrific trend. Also, we broke 25,000,000 filings this week:
W/Ending … 2009 … 2008 … 2007 … 2006 … 2005
1/3/2009 … 731,958 … 521,311 … 499,979 … 475,889 … 540,927
1/10/2009 … 959,791 … 547,506 … 506,059 … 555,114 … 693,776
1/17/2009 … 763,987 … 415,149 … 506,709 … 439,873 … 467,862
1/24/2009 … 620,143 … 369,944 … 367,583 … 317,926 … 360,583
1/31/2009 … 682,176 … 380,138 … 359,959 … 318,805 … 364,704
2/7/2009 … 710,152 … 377,457 … 339,018 … 321,527 … 347,391
2/14/2009 … 619,951 … 325,754 … 363,018 … 310,078 … 309,290
2/21/2009 … 605,668 … 329,925 … 305,945 … 269,571 … 303,814
2/28/2009 … 645,827 … 345,165 … 299,000 … 272,478 … 290,776
3/7/2009 … 652,636 … 341,685 … 320,194 … 301,867 … 332,067
3/14/2009 … 601,193 … 335,917 … 298,927 … 294,764 … 307,061
3/21/2009 … 590,067 … 316,598 … 277,187 … 269,237 … 290,719
3/28/2009 … 599,299 … 341,846 … 273,432 … 265,370 … 291,378
4/4/2009 … 623,630 … 357,206 … 268,218 … 253,985 … 294,994
4/11/2009 … 610,522 … 370,949 … 328,266 … 314,696 … 339,709
4/18/2009 … 596,564 … 328,346 … 317,917 … 268,472 … 285,657
4/25/2009 … 580,377 … 337,858 … 303,984 … 291,349 … 299,891
5/2/2009 … 537,539 … 335,547 … 267,672 … 279,715 … 290,824
5/9/2009 … 570,412 … 325,480 … 274,801 … 317,239 … 297,347
5/16/2009 … 540,925 … 319,694 … 258,516 … 288,972 … 275,524
5/23/2009 … 538,268 … 326,518 … 270,446 … 277,168 … 276,761
5/30/2009 … 500,383 … 300,989 … 273,397 … 292,714 … 304,306
6/6/2009 … 581,080 … 373,046 … 263,527 … 260,263 … 289,914
6/13/2009 … 558,407 … 349,255 … 302,368 … 285,892 … 315,938
6/20/2009 … 568,552 … 358,159 … 290,951 … 277,441 … 289,831
6/27/2009 … 559,894 … 368,544 … 292,583 … 287,503 … 286,681
7/4/2009 … 581,145 … 401,672 … 300,348 … 304,638 … 327,268
7/11/2009 … 671,242 … 483,981 … 417,554 … 418,363 … 427,323
7/18/2009 … 585,575 … 411,408 … 383,839 … 377,115 … 374,665
7/25/2009 … 511,628 … 376,123 … 257,426 … 288,875 … 295,026
8/1/2009 … 466,695 … 382,792 … 270,563 … 259,974 … 261,906
8/8/2009 … 482,590 … 373,858 … 266,420 … 275,430 … 269,746
8/15/2009 … 457,985 … 343,169 … 257,573 … 256,259 … 257,151
8/22/2009 … 457,269 … 345,127 … 266,179 … 252,357 … 252,016
8/29/2009 … 456,682 … 358,730 … 257,454 … 251,275 … 251,642
9/5/2009 … 466,277 … 336,733 … 245,526 … 259,539 … 271,613
9/12/2009 … 411,126 … 382,249 … 261,971 … 240,231 … 322,387
9/19/2009 … 437,543 … 398,070 … 247,643 … 267,036 … 326,204
9/26/2009 … 445,618 … 392,515 … 255,431 … 261,396 … 292,435
10/3/2009 … 451,883 … 426,789 … 298,317 … 249,288 … 313,847
10/10/2009 … 509,730 … 454,065 … 306,519 … 307,646 … 380,093
10/17/2009 … 460,430 … 416,111 … 307,675 … 271,863 … 303,158
10/24/2009 … 494,394 … 449,389 … 303,357 … 291,372 … 304,733
10/31/2009 … 482,542 … 466,341 … 325,831 … 301,079 … 294,736
11/7/2009 … 529,446 … 539,787 … 351,760 … 326,711 … 340,491
YTD Totals 25,510,467..17,138,895..14,011,042..13,568,355..14,614,165
Per. Irish a blogger.
Nanoo and g., I left a comment for you on the last thread.
Mel wrote:
could you list the way they differ?
....and lets not forget the BIG 800K "adjustment" coming up when? By March?......It must be PTSD.....I'm already numb today.
.
Question - how can you set aside a chunk of money that doesn't exist yet? Why not just NOT spend it?
"The administration wants to keep some of the unspent [TARP] funds available for emergencies, but is considering setting aside a chunk for debt reduction, according to people familiar with the matter."
if you want to listen to a BBC radio play called The Day Lehman Died (60 minutes)
BBC iPlayer - BBC World Drama: The Day That Lehman Died
they have various actors playing Thain, Fuld, Timmy, Paulson, Lewis
it's about the negotiations over Lehman that one fateful weekend
Black Star Ranch wrote:
Dark magic?
so as not to hijack this thread...energycon and traderwalt...left a reply in last
thread.
Shill -
Interesting data. Thanks for posting. Less worse less faster, indeed. Let's get spinning, it's holiday season!
11/7/2009 … 529,446 … 539,787 … 351,760 … 326,711 … 340,491
YTD Totals 25,510,467..17,138,895..14,011,042..13,568,355..14,614,165
speaking of magic:
MarketWatch.com
Although both have major GS components, the Bush government fostered the laissez faire that got us into this situation--and the exclusion of the Iraqistan war expenses in the budget--Obama is the surgeon dealing with the resultant gangrene--maybe not doing too great, but not the incubator of this disease.
@Mel:
"You do realize that the government that got us into this situation is not the same one struggling to get us out of it?"
Meet the new boss, same as the old boss...
Jeeminy, Mel, gimme a break!
mel
i disagree it is the same government just different name
Would it be a good photo op if O gives away dollar store toys at a ghetto 2AM in the morning?
At what point do we call the US third world? The corporatists have told the masses that those lost jobs are never coming back. The standard of living in a country is based not only on the number of jobs and percentage employed, but also on the quality of those jobs. All the hoopla over healthcare is a side show to what happened a year ago when Paulson and Bernanke created the Economic Stabilization Act. I would be willing to bet that even if there is no healthcare package with a public option approved because of lobbying by the drug, insurance companies, and AMA, the salaries of hospital workers including doctors and nurses will ultimately go down. Why? Because the number of hospitals that are going broke is rapidly increasing because of the number of people who are underinsured or uninsured and can't pay their bills and the bankrupt US can't fund these extreme costs for long.
duke
thanks for link to the iplayer, going to listen and see how much compares with "house of cards" (got that in audio).
Boom2Bust.com (homepage, profile) wrote on Thu, 11/12/2009 - 10:07 am
"Mel:
"You do realize that the government that got us into this situation is not the same one struggling to get us out of it?"
Meet the new boss, same as the old boss.."
If that's so, how come the Republicans are calling his actions socialism--and putting us at so much terrorism risk? There's nothing O could have done now that caused the shit hitting the fan in 2007--own up to your guy, and his buds, screwing us royally.
Fake stimulus jobs:
Stimulus fund job benefits exaggerated, review finds - The Boston Globe
All the news about the job creation of the stimulus jobs are fake.
Elephants and Asses
Trampling the Masses
Does it matter who steals from you?
Red? or Blue?
theoretically, the red steal for the rich, the blue for the poor. The red has done its job, the blue hasn't--if you want to look at it that way.
one small question. if you carefully look at the graph, you see the unemployment peek ending simultaneously than the so call "recession period", but not in today case.....
Any explanation so far ?
Giving out LESS handouts is not stealing, when those handouts are funded by people actually working.
Pelosicare is another tax on the working population - rich or not - to pay for people too lazy to make healthy decisions, too selfish to emigrate here properly, or too complacent to get ahead under their own volition.
Red party, blue party, who gives a $#)+, they're both dysfunctional, dellusional, and disconnected from reality.
Find me one person who has a new or saved job from Obama's $800,000,000,000 China Equity Line of Credit, and I'll find you 2 out of work because of it.
Black Star Ranch, as regards keeping some of the unspent funds for emergencies, may I translate...the emergency will be the 2010 congressional elections.
Mel wrote:
Absolutely false. The Dems have been pushing loose lending standards and loose money for decades. It was a Democratic administration that nuked Glass Stegal, for example. I don't blame this crisis on the CRA like some conservatives I know, but there is plenty of blame to go around. Chris Dodd is obviously compromised. Barney Frank is, quite literally, taking it up the a** from a Freddie Mac executive.
Looking at this through partisan glasses obscures the truth: the political establishments in both parties have been totally co-opted by Wall Street.
As a side note, I'm trying to make sense of this laissez fair you speak of. I see a centrally managed money supply, government incentives and tax breaks as far as the eye can see for housing, massive moral hazard, huge government run investment shops (pensions and SWFs) and so on. Does laissez fair not mean what I think it means?
Cheers,
prat
Mel, come on, there is no need to gush about Obama. Sure the previous administration was at the helm and drove us into the storm, but now we have a new captain. Unfortunately, this isn't the time of the Love Boat. Look who Obama picked to help through this crisis: Larry Summers and Timothy Geithner, and the latter had serious tax issues with the IRS. "Change," right! Obama started loosing me with those picks.
Read Maureen Dowd's piece in yesterday's NY Times. Even she has seen the light and is no longer waxing orgasmically about Obama.
Right now we need a really strong, mature leader, not a rhetorically sharp man who would be statesman and nobel laureate. I have been unemployed for a while and am really worried about the country.