Unemployment Claims Continue Plateau

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Thursday, May 27, 2010 at 11:24 am

Weekly initial jobless claims fell to 460,000, down 14,000 from the prior week, the Labor Department announced this morning. Economists had expected unemployment claims to fall to 455,000. The four-week average fell a bit to 456,500. The drop is good news, in some sense, but the plateau in new jobless claims is worrying. The unemployment and underemployment rates remain very high, high enough to stall out the recovery. And initial jobless claims need to drop for the unemployment rate to recede. Joe Weisenthal at Business Insider shows the plateau with this graph:

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Noontime News Roundup – 05/27/2010 | BPI Campus
Pingback posted May 27, 2010 @ 12:41 pm

[...] Unemployment Claims Continue Plateau “Weekly initial jobless claims fell to 460,000, down 14,000 from the prior week, the Labor Department announced this morning. Economists had expected unemployment claims to fall to 455,000. The four-week average fell a bit to 456,500. The drop is good news, in some sense, but the plateau in new jobless claims is worrying.” [...]


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Pingback posted May 27, 2010 @ 4:06 pm

[...] Unemployment Claims Continue Plateau « The Washington Independent [...]


timOregon
Comment posted May 27, 2010 @ 4:13 pm

Yahoo we are only loosing 450,000 jobs a week. Washington you take that break because you have been doing such a great job in helping your country.

Support those that are telling Congress what a great job they are doing here.

http://www.change.org/petitions/view/the_99ers_…

They have screwed up at every step and are getting ready to do it again! You would think that they would want unemployment as they will all be out of job come election time. But wait they have predicted everything wrong thus far…


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Pingback posted May 28, 2010 @ 6:17 am

[...] Unemployment Claims Continue Plateau « The Washington Independent [...]


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Pingback posted May 28, 2010 @ 12:53 pm

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