U.S. Jobless Claims Climb

Labor Department Reports Unemployment Filings At Highest Level Since Mid-September 2005

(AP)  The number of new people signing up for unemployment benefits last week shot up to the highest level in more than two years, fresh evidence of the damage to a national economy clobbered by housing, credit and financial crises.

The Labor Department reported Thursday that new applications filed for unemployment insurance jumped by a seasonally adjusted 38,000 to 407,000 for the week ending March 29. The increase left claims at their highest point since Sept. 17, 2005, following the blows of the devastating Gulf Coast hurricanes.

"This report supports the view that the jobs market is deteriorating toward recessionary conditions," said T.J. Marta, a fixed-income strategist at RBC Capital Markets.

The latest snapshot of labor activity was worse than economists had anticipated. They had predicted claims would be much lower, around 365,000.

A government analyst said some of the big increase in claims may have been related to an early Easter holiday this year, where claims that weren't filed or processed during the holiday week were pushed forward into the following week.

Still, looking at the longer-term trend there was little doubt of the pickup in unemployment filings. A year ago, new claims stood at 319,000.

Meanwhile, the number of people continuing to collect unemployment benefits rose by a sharp 97,000 to 2.94 million for the week ending March 22, the most recent period for which that information is available. That was the highest since July 17, 2004.

The economy is suffering from a trio of mighty blows - a housing collapse, a credit crunch and a financial system in turmoil. That's causing people and businesses to hunker down, crimping spending, capital investment and hiring. Those things in turn further weaken the economy, in a vicious cycle.

For the first time, Federal Reserve Chairman Ben Bernanke acknowledged on Wednesday said the country could be heading toward a recession. Many other economists and the public believe it's already there.

Employers cuts jobs in January and February, and economists are predicting more losses when the government releases the March employment report on Friday.

The nation's unemployment rate, now at 4.8 percent, is expected to rise to 5 percent in March. The jobless rate could climb to 5.5 percent or higher by the end of this year, according to some analysts' projections.

To bolster the economy the Fed has been cutting a key interest rate to induce people and companies to boost their spending. Many analysts still predict another reduction to that rate when the central bank meets later this month, although Bernanke didn't tip his hand about the Fed's next rate move.

[speakinup]

And, so if you want the REAL facts, instead of CBS''s slant, read the Employment Situation Summary form the Department of Labor. http://tinyurl.com/t68g

Of course, that would give you far left folks a whole lot less to b|tch about, as it shows the reason the jobless rate is up, and doesn''t use inflamitory phrases like "shot up", and say things like, "The latest snapshot of labor activity was worse than economists had anticipated." Which neither tells WHO these ''economists'' were, or when their ''anticipations'' were prognosticated (1897?).

But, what the heck - it makes a nice pro-liberal headine, right ?

[simonsez40]

Oh the 28% that actually ''support'' Bush are out in force today - all two of them.....

[mjvw2]

from USA Today...typical right wing publication

Clinton''s campaign manager, Maggie Williams, earned at least $175,000 serving from 2000-07 on the board of Long Island-based Delta Financial, which filed for bankruptcy last year after a history of high-cost loans to low-income borrowers, according to public records.

Obama''s national finance chairwoman, Penny Pritzker, was chairwoman of the board of a Chicago-area bank in 1993 when it adopted a subprime business strategy that regulators say ultimately led it to collapse in 2001.

[slaphappy86]

continued...

According to Clinton administration official Richard Clarke:

''extraordinary renditions'', were operations to apprehend terrorists abroad, usually without the knowledge of and almost always without public acknowledgment of the host government%u2026. The first time I proposed a snatch, in 1993, the White House Counsel, Lloyd Cutler, demanded a meeting with the President to explain how it violated international law. Clinton had seemed to be siding with Cutler until Al Gore belatedly joined the meeting, having just flown overnight from South Africa. Clinton recapped the arguments on both sides for Gore: Lloyd says this. *** says that. Gore laughed and said, ''That''s a no-brainer. Of course it''s a violation of international law, that''s why it''s a covert action. The guy is a terrorist. Go grab his ***.''[16]

Put that in your Crack pipe and smoke it!

Spirirt of 88!

[slaphappy86]

Maybe, Instead of B*tching and moaning in true liberal Kook fashion, you can find a Solution. I have yet to hear a Kook-o-crat come up with sane solutions for anything. You love passing the buck and blaming everything on Bush. When in fact the Democratic Party is the biggest Hypocrites of them all, For Example: during the civil war, The confederacy (southern democrats) were pro-slavery and now they are for a utopic society, Welfare handouts for the leechs to suck the livelyhood out of every hard working american..isen''t that the typcal liberal way?..Affirmative Action, one of Slick Willy''s Screwups..and last but not least, your blame for bush and the republican party for approving torture?..maybe you should thank Wackjob Willy for that one...Just read...

[benjones1366]

As proven by the FDA, FEMA, FTC, and other government departments...

...this Neo-Con/Nazi administrations plan of nearly disbanding the government for the sake of corporate interests is going full steam.

The plan:

1. Appoint and recruit completely incompetent industry insiders into the governing departments designed to regulate and oversee the companies that Americans are exposed to everyday.

2. Ensure the incompetent heads of said governing departments places the interests of corporate "America" over the interests of the American people that the departments are supposed to protect.

3. When Americans are put in danger and/or harmed by the unscrupulous corporations, ensure that the various governing departments appear to be incompetent and lacking authority... for the sole purpose of Neo-Conservatives to claim the typical retarded Reagan BS line of "...government is not the solution, government is the problem."

4. Continually (try to) convince the American people that government is "the problem" when the evening news points out the lack of action by said governing departments.

[dennishart4]

Bush is the REASON! www.theoandavirus.com

[hypnotoad72]

Boeing v Airbus

Posted by zoe2006
------------------

Wasn''t Candidate McCain in France, hyping up Airbus, claiming to be a Reagan Republican, American, and so on?

[sgtrds]

Just a word to you posters out there. Do not use the word "moron" in a post. I just refered to one of the posters as a moron and CBS took down my post. Just thought you should know.

Posted by Element51 at 01:25 PM : Apr 03, 2008

I have used the word moron many times posting here (usually in reference to that moron Bush) and they haven''t taken down any of my posts for it. They have taken down a few of mine because moron right wingers here whine to the moderators until they get sick of hearing their baby cries and take down the posts just to shut them up. Sort of like giving an infant a pacifier.

[dzapple]

Stan Meyer''''s Dune Buggy that ran on water. Hydrogen/Oxygen fuel in an ICE motor. On board electrolysis, no hydrogen tanks, no bombs on-board, just water. (1998) It ran 100 miles per gallon! Stan is the mustard seed of Water Powered Cars!He was a shame to hear that he was poisoned (March 98'''') and longer with us. He died in the parking lot of a restaurant in his home town of Grove City, Ohio. Sharks came a week later and stole the the dune buggy and all of his experimental equipment, according to his brother, Steve. Stan said while he was alive, that he was threatened many times and would not sell out to Arab Oil Corp.s The Military was going to use this technology in their tanks, jeeps, etc. He had patents on his invention and was ready for production. Only $1,500 to equip your car! No gasoline, just water. Stanley said he was offered a billion dollars from an Arab to basically shelf his idea. Stan said, "no, this technology is for the people." Who you suppose poisoned Stan? A jealous onlooker? Do you think the Oil Corp.''''s are happy to see a converted car running for FREE?? If GW wanted my respect,I''''d have inventors like Stan on TV and with me in the White House, discussing how to save this dying planet and break the bonds of ruled corruption and greed. I have read the DOE''''s hydrogen & fuel cell technology and they don''''t mention making hydrogen from pure water, until the last page. They talk about Hydrogen Gas Stations at how much per gallon?