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Business

Unemployment Aid Claims Jump By 20K

Feb. 21, 2013 8:34am Becket Adams

Oh, yes. It’s that time again. It’s time for your weekly unemployment claims report.

Applications for jobless benefits jumped by 20,000 for the week ending February 16, bringing the total to 362,000, up from last week’s revised figure of 342,000, the Labor Department announced on Thursday.

The four-week moving average, a “less volatile” figure, increased by 8,000, bringing the total to 360,750, up from last week’s revised average of 352,750.

“The advance seasonally adjusted insured unemployment rate was 2.4 percent for the week ending February 9, unchanged from the prior week’s unrevised rate,” the report reads.

“The advance number for seasonally adjusted insured unemployment during the week ending February 9 was 3,148,000, an increase of 11,000 from the preceding week’s revised level of 3,137,000. The 4-week moving average was 3,186,250, a decrease of 6,750 from the preceding week’s revised average of 3,193,000,” the report adds,

The states with the largest increases in initial claims for the week ending February 9 were Kansas (+2,344), Puerto Rico (+492), Virginia (+465), Indiana (+205), and Rhode Island (+176).

Meanwhile, California (-4,830), New York (-4,401), Oregon (-2,211), Pennsylvania (-2,020), and Wisconsin (-1,670) posted the biggest decreases in initial claims.

So the seasonally adjusted total is up by 20K and the four-week four-week average is up by 8K. What headlines are mainstream outlets running?

Screen grabs.

“Claims for US jobless aid suggest modest hiring,” The Associated Press reports.

“Jobless claims jump, but hiring remains slow, steady,” reads the headline on NBC News’ site.

“Inflation Was In Check Last Month; Jobless Claims Jumped Last Week,” reads the NPR headline.

“Jobless claims rise more than expected,” reads the official Reuters headline.

Yeah.

Oh! Also, as Zero Hedge notes, today’s estimate of 362K puts us back exactly where we were at this point last year:

Courtesy Zero Hedge

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Comments (33)

tacticalobserver.com
Posted on February 21, 2013 at 7:32pm
To Obama this is just a numbers game. Unemployment is out of control. Just like the national debt.

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niterider
Posted on February 21, 2013 at 6:04pm
But, but, but…….the recession is over…

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wilbstal
Posted on February 21, 2013 at 12:14pm
Obama is so great nice job barry

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just_around
Posted on February 21, 2013 at 9:55am
that spike in the graph is most likely attributed to the trillions of stimulus dumped into infrastructure & union wages & pensions. The resulting dive is proof that **** don’t work.

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Cavallo
Posted on February 21, 2013 at 9:43am
The new normal in ObamaLand. High unemployment, high regulations, high taxes, high energy costs, low standard of living, low opportunity, low liberty, low freedom. The Leftist utopia cometh, prepare thyselves to watch as the first families and politburo live in luxury off your money and insider graft, while you starve, go bankrupt, and your children starve.

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- NewMedia
  Posted on February 21, 2013 at 9:50am
  Unfortunately none of this stuff even matters anymore. The media will spin this into how it shows that the economy is in recovery. Between the media and the administration, nobody really even cares about the unemployed anymore. http://www.youtube.com/watch?v=RExLzaQ3NMU
  
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FiscalBill
Posted on February 21, 2013 at 9:43am
Is this the way Forward?

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mrja
Posted on February 21, 2013 at 9:16am
One has to wonder what the ‘actual’ numbers are……..

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huey6367
Posted on February 21, 2013 at 9:07am
Wait until the sequester hits. Can you say double digit unemployment (U3) or U6 unemployment in the 20th percentile.

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- biohazard23
  Posted on February 21, 2013 at 9:19am
  The regime will just blame Bush, Congress, Republicans in general, Palin, Fox News, El Rushbo, (insert favorite straw man here) and deflect it all away from the fact that the sequester was dear leader’s idea after he got all stompy-footed and pouty about no one wanting to play with him.
  
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- Outlaw_Josey_Wales
  Posted on February 21, 2013 at 9:54am
  If we count the long term unemployed who’s benefits have ran out, the U3 would numbers would be over 10%. The White House is fudging the unemployment numbers, to make the economy look good. It’s not going to work, the economy is going to function like there is +10% unemployment. 70% of the United States economy is consumer spending, can’t have a recovery with +10% unemployment. $1.5 trillion deficit spending for the last 4 years, is what kept the economy going. When government spending slows so will the economy.
  
  This is how I see it. $1.5 trillion in annual deficit spending is about 10% of GDP. For the last 4 years U.S. GDP was around 2% – 3%. Take away the $1.5 trillion deficit spending, GDP would be -8% per year. Increasing the national debt by $6 trillion over the last 4 years, is what kept the U.S. economy from crashing. Think 2009 was bad, you ain’t seen nothing yet.
  
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- huey6367
  Posted on February 21, 2013 at 11:00am
  @josey and Bio
  
  I understand that the actual unemployment numbers are much higher than are reported. I put no trust in those numbers at all. I look at the U6. It is around 14.4% or so at the moment. When you look at just minority unemployment, it is much higher. But I say let the sequester happen. Obama wanted it so give it to him. Go here and read this if you have not http://www.bestofbeck.com/wp/activism/saul-alinskys-12-rules-for-radicals
  Read it. Understand it. It explains Obama completely.
  
  Outlaw – I agree with you that the 6 trillion in new deficeit helped the economy not completely implode but it is the long term effects of such spending that scar the s*** out of me. They should just let economics govern economics and not politics. Kind of like slowly peeling off the band aid and ripping it off – Long term pain (that is not too bad but hurts over a longer period) v. short term pain (hurts like a SOB but stops shortly)
  
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TOPOFTHEGAME
Posted on February 21, 2013 at 9:06am
Talking about the sequester for a moment, do any of you remember the speech by Donald Rumsfield on Sept. 10th 2001 ??????? He announced the Dept. of Defense couldn’t find 2.3 Trillion dollars. Then the next day 911 happened.. Google it. And or Defense Dept. can’t get by with 44 billion less money this year????? Give me a break………………

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RR1
Posted on February 21, 2013 at 9:05am
Surprise, well not really at all

Layoff List
http://www.dailyjobcuts.com
.

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mikem1969
Posted on February 21, 2013 at 9:00am
Imagine that, the little hitler administration lied again. They said things were getting better. LOLOLOL. Still, they will deny, deny, deny as they always do even when facts hit them like a ton of bricks.

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progressiveslayer
Posted on February 21, 2013 at 8:59am
Looks like the Marxist mulatto’s plan is shaping right up huh?

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SocialistSlayer
Posted on February 21, 2013 at 8:58am
On the positive side – Chinese Unemployed actually dropped – Thanks Communist obama !

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Snowleopard {gallery of cat folks}
Posted on February 21, 2013 at 8:56am
The lies of the administration continue, they claim all is getting better, when its getting worse.

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biohazard23
Posted on February 21, 2013 at 8:44am
Shocked face.

Again.

http://themacadvocate.com/Home/wp-content/uploads/2012/03/shocked.jpg

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- Gonzo
  Posted on February 21, 2013 at 8:52am
  Is that the “Clockwork Angels” album cover Bio?
  
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- biohazard23
  Posted on February 21, 2013 at 9:00am
  Yes it is. Great album! Took the kids to see them play last November. It was awesome and the kids liked it.
  
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- RJJinGadsden
  Posted on February 21, 2013 at 9:12am
  You can tell how old I am. I had never even heard of them until GONZO just mentioned them. Will have to put You Tube on overtime today and give a listen.
  
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- biohazard23
  Posted on February 21, 2013 at 9:23am
  RJ, my honey got me listening to them. I mean, I’ve always liked their music, but I was always more of a U2/Ramones kinda girl. Now we have the kids listening to Rush. The music is waaaay older than all 3 of their ages put together, but they still love it. The Garden, The Wreckers, Headlong Flight, and the Anarchist are my favorites off of Clockwork Angels.
  
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- Gonzo
  Posted on February 21, 2013 at 9:24am
  R.J. It’s a Rush album, you’ve heard of them. Thanks Bio, I hadn’t heard much about it, I may pick it up on your recommendation. I’ve seen them probably 5 times starting in the 70′s . One of those bands people same to love or hate, not much middle ground.
  
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- The-Monk
  Posted on February 21, 2013 at 9:35am
  Ever heard of “Baron Von Tollbooth and the Chrome Nun”?
  
  http://www.youtube.com/watch?v=3thciHZ8Ve4
  
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- biohazard23
  Posted on February 21, 2013 at 9:42am
  Monk, can’t say that I’ve heard of them, but I’ll have a listen.
  
  Gonzo, my husband and I are going to see The World’s Biggest Cult Band again in April. This will be our second time to see them on this tour. Hubby has seen them, like, 10 times. This will be my 4th. And I highly recommend the album. Definitely worth it. :)
  
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- The-Monk
  Posted on February 21, 2013 at 9:44am
  How about 801…..
  
  http://www.youtube.com/watch?v=-Usb26HywtU
  
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- biohazard23
  Posted on February 21, 2013 at 10:00am
  Brian Eno?? Egads!!! He’s responsible for The Unforgettable Fire!! Not one of U2′s best albums. Good track, though.
  
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- RJJinGadsden
  Posted on February 21, 2013 at 10:27am
  GONZO, Okay, that clears that up. I remember Rush, but was just never a fan. As for Clockwork Angels, I cut and pasted that in You Tube and got the warning to sign in, that it is age rated. Just didn’t bother after that.
  
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hempstead1944
Posted on February 21, 2013 at 8:41am
Okay, everyone get their “shock faces” on……..Obama, you first.

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Gonzo
Posted on February 21, 2013 at 8:39am
Well, I guess this what the majority of American voters wanted. Thanks A-holes.

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- Your_Senile
  Posted on February 21, 2013 at 9:05am
  This is what you must know
  
  Unemployment Checks Stimulate the Economy
  
  it is so
  
  Your Senile
  
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- huey6367
  Posted on February 21, 2013 at 9:17am
  @semile
  
  That’s what piglosi says. Later she said jobs stimulate the economy. My head hurts.
  
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