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Big Jump in Jobless Claims After the Election
Applications for jobless benefits increased by 78,000 for the week ending November 10, bringing the total to 439,000, up from 361,000, the Labor Department announced on Thursday.
This is the highest it has been in 18 months.
The four-week moving average, a “less volatile” figure, increased by 11,750, bringing the total to 383,750, up from 372,000.
“The advance seasonally adjusted insured unemployment rate was 2.6 percent for the week ending November 3, an increase of 0.1 percentage point from the prior week’s revised rate,” the Labor Department report added.
The surge in unemployment claims is being blamed on Superstorm Sandy.
“Superstorm Sandy pushes US jobless claims to 439K,” reads one Associated Press headline.
“Sandy Spurs Jump in Jobless Claims; Inflation Nudges Up,” reads one CNBC headline.
Now, to be fair, Superstorm Sandy did close many businesses along the east coast. And for each business closed, whether permanently or temporarily, its employees are entitled to unemployment benefits. So the narrative this morning from many media outlets is that Sandy closed a lot of businesses and that’s why unemployment applications are at an 18-year high.
However, according to Bloomberg, there’s more to this story:
The Labor Department spokesman did not name the affected states, citing agency policy not to single out any one area. Today’s report showed a loss of electricity prevented New York offices from taking claims two weeks ago.
In addition, since Monday was a government holiday, three states and territories — Hawaii, Oregon and Puerto Rico — didn’t report claims data, causing the Labor Department to estimate their totals, the spokesman said. Two others, California and Virginia, provided their own estimates.
California provided its own estimates? Oregon didn’t even turn in their numbers? Seems legit.
Furthermore, according to the Labor Department’s press release, the two states with the largest increases in initial claims were Ohio (+6,450), which experienced some of the effects of Sandy, and Pennsylvania (+7,766).
Are these numbers to be blamed on Sandy as well?
“What is truly amusing is that the same Wall Street ‘experts’ who set expectations were unable to foresee the Sandy effect that every ‘macrotourist’ on Twitter apparently is so very aware of,” Zero Hedge writes.
“Also, it is apparently also ‘Sandy’s fault’ (now that the Bush excuse is back in retirement) that the prior week’s claims were revised from 355K to 361K. Basically, just as we said 3 weeks ago, ignore every negative data point: it is Sandy’s fault,” the report adds.
Final Thought: Remember when Sandy first hit and all those analysts were saying that this would be a good thing for the economy? They claimed that money spent repairing the damage would boost GDP.
They also said that the storm would definitely result in layoffs.
So here’s the thing: Disregarding the fact that this is also known as the “broken window” fallacy, how does a natural disaster resulting in an exponential jump in jobless benefits “boost” the economy? That is, how does a multibillion-dollar superstorm directly responsible for thousands of people collecting government checks increase economic growth?
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Front page photo courtesy the AP. Carousel image courtesy shutterstock.com This story has been updated.
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Comments (195)
RIGS
Posted on November 15, 2012 at 9:32amI guess the democraps could’nt fake the numbers anymore. You know just like the voter lists. This dictatorship is a joke.
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Female
Posted on November 15, 2012 at 9:55amStill FIXED! People still being rolled off list, joining disability, or retirement. Plus the young not getting jobs and elderly taking PT minimum wage. Twinkies is going out of business. BB says hardest hit is OH and PA by new unemployment.
Which states are the right-to-work states? AZ, TX
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oldguy49
Posted on November 15, 2012 at 9:58amwhen our restaurant closed for the season here in florida and we filed for unemployment we were made to wait 3 weeks to apply until the election was over……………………..never happened before
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Al J Zira
Posted on November 15, 2012 at 10:12am@FEMALE: And which two states voted for Obama? PA and Ohio, I don’t get it. There was either no logic used by anyone in this election or the fraud was outright ramped.
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2MINUTESTOMIDNIGHT
Posted on November 15, 2012 at 10:17amAL, it was both, in very high doses.
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Anonymous T. Irrelevant
Posted on November 15, 2012 at 10:27amSpecifically, NORTHERN Ohio. Here in SOUTHERN Ohio, we voted against Zero. I have written to our SoS asking them to recount the votes. No response.
From what I have heard, Cuyahoga County (Cleveland) and Wood County (Bowling Green) cheated big time.
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turkey13
Posted on November 15, 2012 at 11:03amI bet those 500 folks at NBC all listened to their Liberal leaders and voted for Obama. Same thing over at Stryker. If all those college kids talked to to the ones that voted for Obama in 2007 and found out they were still looking for a job and living at home it would have been a Romney landslide. When we go to a barter system – food, gold, silver, guns and ammo will be recognised as currency. Thats why George Soreass bought $$ 1 Billion Bucks worth of gold 2 years ago = + he doubled his investment.
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Cavallo
Posted on November 15, 2012 at 11:15amTwinkies is threatening to liquidate the company because of Unions. Denny’s is going to charge a 5% Obamacare surcharge.
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JRook
Posted on November 15, 2012 at 11:49amNo No No beckett you got the scoop it was definitely because the PRESIDENT won.
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doomytram
Posted on November 15, 2012 at 11:53amLet the healing begin Amerika! ***** y’all, I won and you lost working people! I’m flying to NYC for burger and fries and playing video games and watching sports center on air force one……while you suffer people… ***** y’all Saltines….
Obozo loves flying in his air plane, because he can sit back relax not work and play games and watch bball….. that’s who you voted for you ridiculous Obozoids.
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mersey
Posted on November 15, 2012 at 12:14pmWow, who would have seen this coming? Oh yeah, just about everyone who DIDN’T vote for Obama.
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banjarmon
Posted on November 15, 2012 at 12:29pmThe BLAME GAME….Did Sandy effect the WHOLE COUNTRY or just New York and New Jersey?
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General K
Posted on November 15, 2012 at 12:51pmI am from Pennsylvania the entire rest of the state voted overwhelmingly for Romney but he cities, Pittsburgh, Erie, and Philly cancelled out the rest of the state. Philly alone had 500,000 votes for Obama ( 59 precincts Romney got zero votes ). The rest of the state must suffer from the votes of the famed 47% who would not work no matter what that vote for a living. They all seem to know how to get a check. I live in a small ex mining town with about 90 homes over half of the families here are getting some kind of a government check and darn few are social security. The demographics are mostly younger families with children all the old people are long gone.
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GhostOfJefferson
Posted on November 15, 2012 at 1:05pmAnonymous,
Same I’m hearing. I know people in Cuyahoga county that were staunch GOP supporters that voted for Romney. Apparently they “voted” but were counted for Obama, and they’re not happy at *all*.
Southern Ohio, eh? I’m just north of Columbus in Delaware county proper.
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Silversmith
Posted on November 15, 2012 at 1:42pmUnfortunately, this just goes on to show that the numbers….all the numbers, are fixed. Votes, Data, Finance…..The digital age presented an opportunity too tempting for the morally weak to pass up – the opportunity to cheat and get away with it. I really am beginning to think it will get a lot worse before it gets better….a lot.
Silversmith
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PoorKnightofKingSolomon
Posted on November 15, 2012 at 1:49pmHuh,I’m in Clark County,Ohio,and I only count 16 of 88 counties that Obama won.Only four located south of Akron.Hamilton,Montgomery,Franklin,and Athens.
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Cavallo
Posted on November 15, 2012 at 2:26pmHong Kong overtakes 5th Avenue. The decline of NY and the rise of Asia.
USA RIP
http://newyork.cbslocal.com/2012/11/15/fifth-avenue-no-longer-the-worlds-top-retail-address/
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Thomas_Jefferson
Posted on November 15, 2012 at 2:46pmLets see,
Bush cuts taxes & employers have money to hire many people.
Obama raises taxes & employers lose money & layoff many people.
Ye shall reap what ye sew
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Mil-Dot
Posted on November 15, 2012 at 3:03pmAttention all business owners. You MUST make every clandestine attempt to discover the political loyalties of the people applying to your companies for employment. Do everything you can to expose the progs. If they apply for a job, no matter how “qualified” (yeah right) pass them over. There are plenty of conservative patriots that could fill those jobs. Here are a few giveaways: minorities, fresh out of college, young women, Obama stickers on cars. Make sure you weed out the progs. Make them hurt bad. Sounds cruel, but does anybody have a better idea to make them realize what the consequences of their votes are? Please enlighten me if you do.
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Think_4_yourself
Posted on November 15, 2012 at 6:48pmFace it, Oblamo (boy king) out witted, outplayed, outlasted the Rep campaign. There is not doubt the “fix” was in. I suspect that is why he never hit his “stride” during the campaign until very late, he knew it was already over.
Just my opinion, Benghazi was a political move, kidnap of Stevens, the boy king comes to the rescue and shows he is strong in international stuff, went south on him, 4 Americans died. Those darn seals couldn’t stand down and screwed it up. But all is good, he won so it doesn’t matter anymore. Story over. Hope everyone has metal as the new currency, LEAD, SILVER, and GOLD. Buy motor oil, food supplies, medical supplies, liquer…..have fun “folks”.
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rickc34
Posted on November 15, 2012 at 7:26pmSo much fraud…so many lies..this is Obamas American dream lie and when your caught change your lie and never accept responsability for your actions blame someone else. Obam be a man and grow up and quit the blame game its is your fault.
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Darkvista
Posted on November 15, 2012 at 10:28pmno they just don’t have to fake it anymore.
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mikem1969
Posted on November 15, 2012 at 9:31amFirst off, the numbers they put out before the election were fake to cover for little hitler. Second, these numbers are fake as well. There have been far to many layoffs and business closings for it to still be this low.
It will only get worse from here people. In 2008 people were duped into voting little hitler, in 2012 the same people get what they deserve, to bad the rest of us have to suffer because of it.
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barber2
Posted on November 15, 2012 at 9:46amMIKE: Agree. Doesn’t it stink that the law abiders suffer because of criminals and that the smart suffer when they become the minority in a society.
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mikem1969
Posted on November 15, 2012 at 9:58amSo very true Barber.
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chucksue351
Posted on November 15, 2012 at 10:05amlittle hitler, don’t complement hitler, this guy is worse
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PresidentRomney
Posted on November 15, 2012 at 12:00pmReally? Obama is “worse” than Hitler?
Are you out of your everloving mind?!?!
I can not even believe anyone would make such a ridiculous statement!
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skiz
Posted on November 15, 2012 at 12:31pm@PRESROMNEY~ You have obviously NEVER looked at what hitler and the nazis’ (brown shirts) did just before hitler took over Germany. Go buy a damn book! Look it up on the internet! The shock you show tells me that you are strickly talking about the murders that hitler and the nazis’ committed. Our president has been doing the exact same thing, without the murders, YET! The funny thing is, just like the brown shirts, the inner cirle are the ones that are killed off FIRST! The night of long knives is coming for these people soon. MORONS!
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mikem1969
Posted on November 15, 2012 at 1:04pmSorry chuck, did not mean to complement hitler.
@presrom, as skiz said get a book and read about hitler and compare the brown shirts to the new fema youth grads, then read about stalin, then read about mao. You may learn a thing or two but I doubt you could get past the lib progressive talking points.
skiz, thanks for the defense nuff said.
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Proverbs17-12NLT
Posted on November 15, 2012 at 9:29amUnder Obama
Going UP- Unemployment, jobless claims, Misery index, personal debt, National debt, Taxes, Gun Sales, Bankruptcies, Foreclosures, Dr.’s leaving the workforce, Failed Green Jobs, Fox News viewership, Suicides, Business closures, Gov. Regulations, Audits, Democrat media manipulation, innocent dead Americans, Immorality, food bank lines, food stamps recipients, the price of Gas, Homelessness, Abortions, indoctrination.
Going DOWN- home equity, race relations, business growth, credit scores, charitable giving, Private health Ins. co., Paychecks, Bank accounts, Birth rates for democrats, Tax revenue.
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MsMonsoon
Posted on November 15, 2012 at 11:04amalso Going UP: experienced combat generals purged.
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Lady_of_the_Lake
Posted on November 15, 2012 at 9:28amIts great to see the Union suckers finally getting thrown under the bus….non union workers got the boot the last 4yrs…and now that their votes are no longer needed the Union bosses take their kickbacks and workers get the axe…….welcome to life outside the bubble now go fight your way through the unemployment lines and meet the REAL America you helped build…….justice is served cold because you can’t buy heated pre cooked food with EBT/SNAP…..eat up you fecken losers…
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skiz
Posted on November 15, 2012 at 12:50pmAmen!!!
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pamela kay
Posted on November 15, 2012 at 12:58pmLADY-OF-THE-LAKE…………….., you nailed it.
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kissmygritsextremists
Posted on November 15, 2012 at 3:36pmAmen sistah!!!
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Wedge
Posted on November 15, 2012 at 4:44pmI want to know why the peeps using the ebt/snap cards, can buy anything? It should be limited to FOOD, that actually keeps and feeds people. soda, potato chips, candy bars, etc.. should not be allowed.. and to be able to go to burger king and eat out when you dont have a job and taking the gubnt dime is just fricking ridiculous! Actually able to use a food stamp to eat out! makes my damned blood boil
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HKS
Posted on November 15, 2012 at 9:25amLike Duh, Obame had like a million people on the election payrol.
“Remember Benghazi”
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Go Glenn
Posted on November 15, 2012 at 9:22amNo one ever saw this coming. I am shocked. Literally shocked!!!!!
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SamIamTwo
Posted on November 15, 2012 at 9:22amThey need to do a recall of the election and have a do-over since el presidente held back critical numbers. JIMFHO.
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Texas Hills Patriot
Posted on November 15, 2012 at 9:21amI’m shocked! Shocked I tell you. No surprise that Obama had his little news conference the day before the numbers came out. Wouldn’t want to give the press the opportunity to ask him about the “surprising” jump right after the election.
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johnpaulkuchtajr
Posted on November 15, 2012 at 9:20amThere is an old fashioned Roll-a-Dex in the White House with a catalog of lies that any staffer can avail themselves of before a press release showing less-than-desirous results.
The Sewer Rat Gang consults the index for lies to tell about Fast and Furious, unemployment, Benghazi, et al.
Need a lie? Go to source. Did I mention that Bill Clinton started the file?
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Pork_Anvil
Posted on November 15, 2012 at 9:19amWho cares? People need to go out and find or create a job for themselves and stop blaming the government. This site is no exception, it’s littered with people who blame the government for not creating jobs for them. Take responsibility for yourselves, people!
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Popp40
Posted on November 15, 2012 at 9:23amYou tell us to stop blaming the government when the job numbers are bad, however, you want us to give Obama credit for “jobs created” when the numbers come out….sorry you can’t have it both ways.
Why do you and this administration only take credit for the good things but when bad news come out you can’t blame this administration….
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rickc34
Posted on November 15, 2012 at 9:26amHey Obama..here’s your sign (of things to come) it is Obamas fault. What’s funny the left cried like babies for every little thing Bush did..where is that same outrage. Hypocrites.
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Pork_Anvil
Posted on November 15, 2012 at 9:29amPopp40, who are you talking about? Did you read what I typed? Why would I give the government credit for “creating” jobs? Where or when have I done that?
You’re projecting. Battling imaginary creatures. Your comment has no base in reality.
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spfoam1
Posted on November 15, 2012 at 9:31amYou bob for Bozo.
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Zipit
Posted on November 15, 2012 at 9:33amYou’ll never admit it, But the truth does hurt, doesn’t it there Porky! Who’ s blaming who now! Buttmunch! Your right, this site is littered with people who blame the government for not Creating jobs! We call you guys trolls. Your guy can’t create jobs while he is standing in the way of creating jobs! Get used to it! The truth will continue to hurt you!
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Pork_Anvil
Posted on November 15, 2012 at 9:38amWay to pay attention there, Zipit. You sound like another moocher looking for a government hand out. “Waaa, where’s my job?”
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Proverbs17-12NLT
Posted on November 15, 2012 at 9:40amWe are Pork but the Gov. keeps taking what we are Making. We did build that.
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spfoam1
Posted on November 15, 2012 at 9:43amThe government is destroying the existing jobs and the ability of individuals to create jobs. I don’t want the government to create jobs, I want them to get out of the way and stop punishing job creators.
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The Jewish Avenger
Posted on November 15, 2012 at 9:45amHow much red tape you go through to buy a parcel of land?
How much red tape you go through to build a building on that land?
How much red tape you go through to be a small business?
How much red tape you go through to be a large business?
How much red tape you go through to export?
How much red tape you go through to hire?
How much red tape you go through to purchase materials?
How much red tape you go through to pass EPA, OSHA, etc. standards?
How much red tape you go through to compete within labor union zones?
Government throws a monkey wrench in everything.
“Handing out jobs” is headline fodder.
We are more restricted in “creating jobs” than ever before
But your right. Try now, because the next bill will CERTAINLY cost more and require more loops to hop through.
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GhostOfJefferson
Posted on November 15, 2012 at 10:08amWow, that’s some dizzying spinning there, Pork ol’ buddy ol’ pal.
It’s true government doesn’t create jobs (except for government jobs of course, like working for the county auditor, etc). But they DO place a very hard burden on private enterprise that causes the free market to not be able to create jobs or grow. Taxes, regulations, minimum wage, etc. all place a burden on the market. The more burdens, the less employment. Basic math.
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Tractorboy
Posted on November 15, 2012 at 11:28amPork, Yes we do blame the government……how does 68 new regs a day help business exactly? How does that make it easy for business to grow, and hire…….68 new regs a day is a noose, your ignorance, should be embarrassing to you.
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Mil-Dot
Posted on November 15, 2012 at 11:47amPork Belly,
We are not blaming the govt for not creating jobs. Govt does not create jobs, it destroys jobs through over taxation and regulation. Just watch the 28 hour work weeks that pop up because of Obamacare. Pretty soon the only folks that will have full time jobs and be able to retire are the govt goons-mostly minorities, and defense contractor employees. You know, the ones that get their money from the taxpayers? The rest of us will have to work till we drop. And the govt goons like that just fine.
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BlackCrow
Posted on November 15, 2012 at 9:19amDuh! How many CEO’s and business owners came righ out and told their employees that if Odumber was re-elected there were going to be lay offs or business closings? The idiots voted for Obummer anyway.
“Stupid is as stupid does” Forest Gump
Mil-Dot
Posted on November 15, 2012 at 11:51amI have actually talked to union hacks that told me to my face that they don’t care if a company goes out of business and they lose their jobs. They say they will get 2 years pay from “the hall”. They are so dogmatic they they would rather be unemployed than work in a non-union shop. Union employees and supporters are the most dispicable people-unfriendly, rude, stupid, etc. that I have ever met in my entire life. Total fricking commies that our grandfathers would have shot on sight. Almost like Russians.
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barber2
Posted on November 15, 2012 at 9:19amOf course. All of the ” shhhh….. Gotta Get Obama Re-elected ” stuff can now be released. Like the Petraeus Media Witch Hunt. Same old Obama Administration. Figure the Supreme Court must be their next American target. Time to pull out the old Target Roberts Talk. Big Brother ALWAYS has to have a target..unfortunately, it seems to always be in America !
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IndyGuy
Posted on November 15, 2012 at 9:19am‘Big Jump in Jobless Claims After the Election’…..What? Did they finally count California???
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wingedwolf
Posted on November 15, 2012 at 9:19amBwaaaaaaaaaaaahahahahahahahahaha!!!!! I’m sure it’s part of some vast, right wing conspiracy. And also the fault of George Bush! ROFLMAO!!!!
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kickagrandma
Posted on November 15, 2012 at 9:19am“PAY BACK” …..
~~~valerie jerrett
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wingedwolf
Posted on November 15, 2012 at 9:24amVery possibly. You wonder when people are going to learn. A friends told me that barry got re-elected because people aren’t hurting enough yet. After giving it some thought, I agree.
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Vickie Dhaene
Posted on November 15, 2012 at 9:18amHow so convenient that the numbers drift into a more realistic number AFTER THE ELECTION. Hmmmm
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TelepromoterNChief
Posted on November 15, 2012 at 9:17amWhoah.
This must be the fault of “the previous administration.”
Isn’t that right Barack?
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bobdudley
Posted on November 15, 2012 at 9:17amEveryone is thinking the same thing – this election trulely WAS stolen. the real question is, what are we going to do about it?
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Mil-Dot
Posted on November 15, 2012 at 11:56amTypically, when a country’s elections are “stolen” , the military steps in and takes over. They are the only ones capable of penetrating any defenses that are set up to protect the cheaters. But, our military does not have the honor or balls to protect and defend the people or constitution any more. They are more interested in furthering their careers so they follow orders the goons to stand down like the little boot lickers they are.
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raderby
Posted on November 15, 2012 at 1:23pmthe election, somehow, was engineered… just like the “financial collapse” of 2008. I do not know how, exactly, or who all was working on it. Some we know- others? unknown – yo utell me what we can do about it, except watch the nazis as closely as we can, and make their lives as miserable as we can make them be.
Perhaps we will get info – perhaps not. But I do not trust gov’t. And the one we have now is a nightmare.
Chin up – they are not that smart…. just sneaky rotters. Their day will come.
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zman173rd
Posted on November 15, 2012 at 9:04pm@ Mildot You’re right in many areas. Unions AND the military. I’ve said for years that “it’s too late” for us to keep trying to work the system. The union worker wants to keep his job and he does so by hijacking the company they “work for”. They actually work for the union. The company just pays the union and the union in effect pays the worker. Remove the union and put the government in its place and you have communism. Wonder how he got the vote? He didn’t steal it; Too, too many government checks to pepole who want to keep that golden goose in office. Construction/Shovel/ highway type jobs are mostly paid by gov’t anyway.
The military will be the thumb on the people’s back in a few more years. You’ll always find someone who will be willing to pull the trigger on you. Your local guard will be mobilized to another area of the country so you’ll be facing a rifle barrel from another state. Or another country, because you’ll soon see soldiers from other countries “playing war games” on our soil. Then they’ll start manning bases like we do on others foreign soil. Laws in the background make it harder to do many of the things we took for granted in past years. Big Brother everywhere in EVERY aspect of your lives. The really scary and sad part is they have our children now because the schools are no longer under control of the individual. It’s only a matter of time and NO ONE wil be able to stop them. That’s why It’s Too Late.
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sflamom
Posted on November 15, 2012 at 9:17amThis is news to whom? The other numbers were fudged… not surprising.
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barber2
Posted on November 15, 2012 at 9:40am“Fudged numbers”…in addition to the Left’s ” We are the 99%” fuzzy math…I think there were some other fudged numbers lately..
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HKS
Posted on November 15, 2012 at 9:16amNow is anyone surprised, I’ll just bet that unemployment rate takes a hit as well. Obame was just funnen ya.
“Remember Benghazi”
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Cavallo
Posted on November 15, 2012 at 9:16amIt is only going to get worse. Welcome to post-America America. Welcome to Oceania, Bobo’s Land.
USA RIP
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Spankster
Posted on November 15, 2012 at 9:16amOf course,the election is over,who is surprised that the numbers jumped,certainly not I….
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Proverbs17-12NLT
Posted on November 15, 2012 at 9:14amIt’s Bush’s Fault.
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contkmi
Posted on November 15, 2012 at 9:14amLet me show you my surprised look…
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RightUnite
Posted on November 15, 2012 at 9:18amHehehehehe! I still can’t see it!! I’m trying really hard too!
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Popp40
Posted on November 15, 2012 at 9:14amAP is saying the big jump is due to Sandy….and if you believe this you are dumb as h ell!
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TelepromoterNChief
Posted on November 15, 2012 at 9:18amI believe you.
I’d write more, but it’s hard to text from my Obama phone while driving my Chevy Volt.
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Small World
Posted on November 15, 2012 at 10:37am@ frontporchpolitics C.Christi warns of tax hikes due to Sandy. Bend forward NJ.
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