WASHINGTON, April 9, 2009
New Jobless Claims Drop To 654,000
Dip Is Greater Than Analysts Expected, But Continuing Claims Set 11th Record
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(CBS)
The Labor Department said Thursday the tally of initial jobless claims fell to a seasonally adjusted 654,000, down from a revised 674,000 the previous week. Analysts expected claims to drop to 660,000.
But the total number of laid-off Americans receiving unemployment rose to 5.84 million, from 5.75 million. That was the most on records dating from 1967 and higher than analysts expected.
The four-week average of claims, which smooths out fluctuations, fell slightly to 657,250, the first drop after 11 straight increases.
Still, the declines are from very high levels. The 674,000 figure was the highest number of initial claims in the current recession and the most in 26 years, though the labor market has grown by half since then.
Initial claims reflect the pace of layoffs by companies and are considered a timely, if volatile, measure of the economy. A year ago, claims stood at 358,000.
The 5.84 million continuing claims lag the initial claims data by a week and doesn't include 1.54 million Americans that received benefits under an extended unemployment compensation program approved by Congress last year. That adds 20 to 33 weeks of benefits on top of the typical 26 weeks provided by states.
The high level of continuing claims is a sign that many laid-off workers are having difficulty finding new jobs.
(AP/Department of Labor)
Among the states, Kentucky saw the largest jump in claims for the week ending March 28, an increase of more than 5,000 due to layoffs in the auto and manufacturing industries. Michigan, Illinois, Ohio and Tennessee reported the next largest increases.
California had the biggest drop in recipients of more than 7,000, which it said was due to fewer layoffs in the service and manufacturing industries. Pennsylvania, Missouri, Kansas and Minnesota had the next largest drops.
More job losses were announced this week. Newspaper publisher A.H. Belo Corp., which owns the Dallas Morning News, said it would eliminate 500 positions, or 14 percent of its work force. Goodyear Tire & Rubber said it will cut 5,000 jobs, or about 7 percent of its employees, this year. Equipment maker Deere & Co. said 160 employees at its plant near Des Moines, Iowa, will be laid off later this month due to reduced demand.
© MMIX, CBS Interactive Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.
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- The main problem is with the government is that We the People let the right wing corporations institute fascism and buy the government. Now is the time to re-regulate, nationalize and de-centralize big corporations. Some that don't work for the common good, like oil companies and health insurance companies should be take over for the common good by We the People.
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- What we have here now is an entire generation of people who will never trust this government again, and they shouldn't.
Posted by cjs_cnet_xyz at 9:34 PM : Apr 9, 2009
Madoff is living proof of what our government really is.
We no longer have a functioning governemnt that stands for the people.
The only function of our government is to commit crimes against the people to keep themselves in power over us, and to help their ultra wealthy friends do the same.
To them, we are just sheep to be fleeced and cattle to be slaughtered.
Look at the photos of the Madoffs smiling and living it up at their big parties, with their lavish lifestyle financed by money he stole from charities. And Madoff has not one ounce of guilt in his mind over it.
Remember, ALL of our leaders are criminals like Madoff. Sending Madoff to prison, after he got an 8 year free pass from Bill Clinton, was only a drop in the ocean of crimes against the people.
When will the people say enough is enough????
They already hate the Republicans. But that only makes them love the Democrats more. When will they realize they should hate the Democrats just as much as they hate the Republicans.
Our government IS our enemy:
http://www.riseupforamerica.com/treasondemandsaction/ourdomesticenemy.html - Reply to this comment
- Bush deserves some credit for encouraging or ignoring the forces that brought our economy to its knees.
Posted by idlepugilist at 8:15 PM : Apr 9, 2009
On the other hand, Bill Clinton actually SIGNED INTO LAW many of those forces.
Such as NAFTA and free trade, and the 1999 Gramm-Leach-Bliley banking deregulation that passed with overwhelming support from Democrats as well as Republicans in Congress. Only 8 senators voted against the final version.
Clinton also ignored Madoff when he was turned in to the SEC in 2000. After that, the staunch Democrat Madoff made large campaign contributions to Hillary Clinton's campaign.
Clinton also ignored Enron, Worldcomm, Andersen Accounting, the 9/11 pilots taking flying lessons here...
But yah, let's blame only Bush. LOL! - Reply to this comment
- Some CEOs made a hundred million dollars in this economy. Six million others had their paycheck yanked away from them. What we have here now is an entire generation of people who will never trust this government again, and they shouldn't.
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- Great. Temporary good news. Obama doesn't get credit for this reduction. On the other hand, Bush deserves some credit for encouraging or ignoring the forces that brought our economy to its knees. Thankfully, you and your neighbor, regardless of bias, are making this economy work towards recovery. It'll a slow journey back to the top. And if you decide to forego the pig roast this year and have a banker roast instead, invite me over.
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- So what you are saying is that OUR GOVERNMENT RUN SCHOOL SYSTEM can not produce enough high tech employees???
Posted by jonesjep at 2:47 PM : Apr 9, 2009
Who said a stupid thing like that?
There are huge numbers of former high-tech workers starving for work.
Believe me, whoever told you they need H1b visas to find high-tech professionals is lying to you. - Reply to this comment
- So what you are saying is that OUR GOVERNMENT RUN SCHOOL SYSTEM can not produce enough high tech employees???
Hmmmmmm. Maybe we should let the government run more stuff? - Reply to this comment
- Did you know that Microsoft sent 5000 jobs to India while laying off American workers?
Posted by lost_america at 12:10 PM : Apr 9, 2009
Yes. The high-tech company I used to work for did the same thing. So did most high-tech companies.
I also remember Bill Gates asking Congress for more H1b visas because he couldn't sem to find any qualified IT professionals available.
Our government gave all those H1b visas for companies that weren't sending jobs out of the country. It was an orchestrated crusade against the high-tech workers of this country. We were making too much money for them, so they destroyed our careers.
Our government is our enemy. It was an intentional crime against all the highly capable professionals who are now scraping for work in sales somewhere. - Reply to this comment
- The fact that you paid into the system and did your part for 30 years means nothing at all.
If you get sick, you just die
welcome to my world
Posted by lost_america at 12:29 PM : Apr 9, 2009
Mine, too. - Reply to this comment
- I'm concerned to be an American, because there's too much greed
And the rich don't care if we die, they will never have to bleed
And they'll gladly scam you and screw you, every single day
Cause there ain't no doubt lobbyists own this land
God Bless the U.S.A.
Posted by melchg at 12:51 PM : Apr 9, 2009
melchg, I'm surprised at you!
Good job. - Reply to this comment
- Wait for the seasonal adjustment; it'll be more than 670K.
They always wait to print that until they think nobody's looking. - Reply to this comment
- The only way to effectively lower costs without incurring a lot of costs would to be to eliminate healthcare for the elderly and let them die off after age 70. ; )
Posted by melchg at 11:43 AM : Apr 9, 2009
It's not a joke in Europe. There was a government study there that actually recommended this as a way of reducing health care expenses for their socialized medical system.
The report actually recommended withholding treatment from the elderly so they'll die sooner and reduce the cost to society.
Welcome to socialism.
Posted by weedapeapl at 12:08 PM : Apr 9, 2009
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In our system we close the public cancer care ward and all those depending on it regardless of age are sentenced to death.
Is using age anymore offensive than using poverty?
Loose your job and suddenly you realize you can't afford to go to the doctor. Even if you could afford the 1k a month cobra payment you can't afford the 30% you have to pay
The fact that you paid into the system and did your part for 30 years means nothing at all.
If you get sick, you just die
welcome to my world - Reply to this comment
- Read up on India's debt slaves.
That's where the ruling elite want us.
Obama promised change. Instead, he's just the next lapdog of the ultra wealthy.
Posted by weedapeapl at 12:00 PM : Apr 9, 2009
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Speaking of Inda, (The country my job went to)
Did you know that Microsoft sent 5000 jobs to India while laying off American workers?
This all the while 11 million dollars of bailout money was going to them to pay for a foot bridge on their campus.
All this while they have Billions in the bank - Reply to this comment
- The only way to effectively lower costs without incurring a lot of costs would to be to eliminate healthcare for the elderly and let them die off after age 70. ; )
Posted by melchg at 11:43 AM : Apr 9, 2009
It's not a joke in Europe. There was a government study there that actually recommended this as a way of reducing health care expenses for their socialized medical system.
The report actually recommended withholding treatment from the elderly so they'll die sooner and reduce the cost to society.
Welcome to socialism. - Reply to this comment
- "Its all Obama's fault! He has been President for 100 days, plenty of time to turn around 8 years of Republican failed policies that have brought us to this moment. Darn Obama, should have had this fixed by now."
You should know that the Dems were in control of the House and Senate since 2007. Therefore in charge of the budget. When they took over they had 4.5% unemployment and 14,000 stock market. This is directly the Dems financial mess. Especially since they were the ones who pushed the 100% home mortgages in the first place. It was Chirs Dodd and Barney Frank running interference for Fannie and Freddie. Why do we not have more oil and natural gas drilling...Democrats. Why do we not have more nuclear power plants.....Democrats. Why do we not have wind generating tubines off of the Mass. coast......Ted Kennedy.
I agree 100% that Bush pushing the first bailout was HORRIBLE. It was a stupid decision that produced no results. Obama has racheted that failed policy up by a factor of 20. Obama has thrown trillions of dollars at the problem and jobs are continuing to fall at a record pace. Obama has declared war on the job creators. If you have been successful as a individual, he is telling people you are the enemy to promote his class warfare. If you are a company being threatened by higher taxes and "card check" unions, you will not be be hiring anyone. You will most likely be looking to move your company to a country that is not actively hostile to you. - Reply to this comment
- Madoff is living proof of what BOTH parties really think about us common folk.
We exist only for them to rob us and then go buy a yacht and smile for the camera at the big party. They don't care that he robbed people of their life savings and their retirement, so they all have to work when they're 90 while he and his wife grin.
Clinton let Madoff go free even when he was turned in. Bush continued to do the same.
The wealthy see us only as sheep to be shorn and cattle to be butchered.
And they totally control our federal government.
Why? Because the people failed to vote them out when they had the chance. They allow themselves to be bribed with drugs and political pandering.
It's the failure of the people, because the wealthy have always tried to do this. Up to now, the people always stopped them. That's the people's job.
The people didn't do their job. Now this. - Reply to this comment
- There is too much money to be made on both sides of the aile to change this system.
Posted by lost_america at 11:56 AM : Apr 9, 2009
Exactly. Our government is bought and paid for by the ultra wealthy, who want nothing more than to enslave us and bury us with eternal debt that we can never repay.
Read up on India's debt slaves.
That's where the ruling elite want us.
Obama promised change. Instead, he's just the next lapdog of the ultra wealthy. - Reply to this comment
- The only way to effectively lower costs without incurring a lot of costs would to be to eliminate healthcare for the elderly and let them die off after age 70. ; )
Of course that statement was a joke. I'm not that cruel. LOL.
Posted by melchg at 11:43 AM : Apr 9, 2009
There are solutions; and have been for decades. All you hear is talk from politicians is talk. I haven't seen any real action yet. No one will make hard choices; only talk about it.
You may be joking but socialized medicine in other countires are already making life and death decisions based on cost. I understand that few, if any, pregnant women are allowed songrams (spelling?) or the necessary medicines for breat cancerl. Nameless, faceless, people decide what's the use and doom people to death where under our system many are saved. - Reply to this comment
- The two party system is a joke. The only thing that both Dems and the GOP agree on wholeheartedly is that they want to ban lobbyists. However neither party makes any real attempt.
For them......washington d.c. is always up for sale.
Posted by melchg at 11:47 AM : Apr 9, 2009
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Congrats! You now understand the truth.
Millions feel the exact same way. Unforturnately they (and you) have no voice beyond the internet. Don't expect any national movement or leader to get any press or platform from which they can speak.
There is too much money to be made on both sides of the aile to change this system. - Reply to this comment
- Free trade, anyone?
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