Jobless Benefits Claims Stuck Above 400,000 for 12th Straight Week
- Posted on June 30, 2011 at 9:12am by
Jonathon M. Seidl
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WASHINGTON (AP) — The number of Americans seeking unemployment benefits was mostly unchanged last week, evidence that the struggling economy isn’t generating many jobs.
Unemployment benefit applications ticked down 1,000 to a seasonally adjusted 428,000, the Labor Department said Thursday.
Applications have topped 400,000 for 12 straight weeks. Applications had fallen in February to 375,000, a level that signals sustainable job growth. They stayed below 400,000 for seven of nine weeks. But applications then surged to an eight-month high of 478,000 in April and have shown only modest improvement since that time.
The four-week average, a less volatile measure, has been stuck at about 426,000 for a month.
High gas prices have cut into consumer spending and prompted many companies to cut back on hiring. A parts shortage stemming from the March 11 earthquake in Japan has also slowed job growth.
Employers added only 54,000 net new jobs in May, much slower than the average gain of 220,000 per month in the previous three months. The unemployment rate rose to 9.1 percent.
The economy needs to generate at least 125,000 jobs per month just to keep up with population growth. And at least twice that many jobs are needed to bring down the unemployment rate.
The U.S. economy isn’t growing quickly enough to generate that many jobs. The government said last week that the economy grew only 1.9 percent in the January-March quarter. Most analysts expect the economy is growing at about the same weak rate in the April-June period, which ends Thursday.
The economy typically needs to grow at 5 percent for a year to reduce the unemployment rate by one percentage point.
The International Monetary Fund on Wednesday became the latest institution to forecast weak growth for the U.S. economy this year and next. The lending organization said it expects growth of 2.5 percent this year and 2.75 percent in 2012.
Unemployment will still average 8.4 percent in 2012, the IMF predicted in its annual report on the U.S. economy.
Last week, the Federal Reserve acknowledged that the economy has slowed in recent months. Fed officials said that “recent labor market indicators have been weaker than anticipated.”
The central bank reduced its forecast for employment and growth this year. It projects that unemployment at the end of 2011 will be 8.6 percent to 8.9 percent. That’s worse than a Fed forecast two months ago, which put the unemployment rate at 8.4 percent to 8.7 percent.
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Founding Dad
Posted on July 1, 2011 at 6:25amIn 1982 the unemployment rate was over 10%. Here we are 29 years later, we have 20 million more citizens, and the total number of people working today is LESS than in 1982! And yet we’re supposed to believe the unemployment rate is only 9.1%??? How can we have more citizens, fewer workers, and a lower unemployment rate????? I’m a mathematics major with 3 degrees from major universities, and I can’t figure that one out. What do you mean 9.1% is a lie???? :)
Report Post »progressiveslayer
Posted on June 30, 2011 at 7:28pmEverything the ant-colonialist in chief has done since elected by the sheep has been designed to destroy the croney capitalism that we had.From the government take over of health care,it always amazes me progressives believe we have a right to health care,to the take over of GM to the financial regulation overhaul ie more government control.Unemployment will continue to climb and the trick for Barry is to keep it low enough to convince the mindless sheep to prove their stupidity again and vote for the worst president we’ve ever had.
But Barry has a problem the drones who voted for this fraud are waking up and seeing the destruction
Report Post »he and his minions have done,.
ICEDRAGONNITE
Posted on June 30, 2011 at 6:18pmWhat is of concern to me is that we don’t want to jump the gun. Things are bad but they still have to get worse. MORE GARBAGE IS ON THE WAY. tHEY SAT AROUNG IN THEIR IVOR TOWERS AND THUNK ALL THIS JUNK UP TO DESTROY TH NATION, AND WE PAID FOR IT, LIKE REAL IDIOTS.
Report Post »HOWEVER DON’T GET AHEAD OF THE GAME. ORGANIZE GET EARLY WARNING SYSTEMS IN PLACE. SUCH AS COPS ATTACKING AND GRABBING GUNS. HAVE CITIZEN RESPONSE READY. ATTACKS ON CHURCHS BY COPS ATTORNYS HAVE CITIZEN RESPONSE READY, MOST HAVE SEEN HOW THEY USE THE NET TO CALL FOR MOBS. WE CAN DO THE SAME. Start your preps.
They are going to be needed, because the attacks will be spread over large areas so as not to alarm us and wake us up to soon. so we need a fast reaction citizenry p;lugged in.They will test the waters first they they will get serious. Remember keep your cool and use your head.Vote for those that think like us not them.
ICEDRAGONNITE
Posted on June 30, 2011 at 6:20pmSorry about the spelling puter went nuts, hand was where it wasn’t supposed to be.
Report Post »ICEDRAGONNITE
Posted on June 30, 2011 at 6:03pmEVERYONE THAT THINKS BO AND HIS people ARE DOING THE BEST THEY CAN TO CREATE JOBS PLEASE STEP OUT OF THE UNEMPLOYMENT LINES AND GIVE, THREE CHEERS TO THE DEMS. FOR DOING SUCH A GREAT JOB. Just kidding. As long as bo is in commie mode this country will not make new jobs and he knows it. The plan is to shut us down, with him as the great ruler of the USA. Notice i did not say leader. Some day a will tell you what I really think of bo.
Report Post »thegreatcarnac
Posted on June 30, 2011 at 2:20pmThe obama-depression carries on. How‘s that socialist ’hope and change‘ crap going for ya’?
Report Post »Gonzo
Posted on June 30, 2011 at 11:04amOuch, tough luck Barry. Don’t worry though, you’ll be eligible for unemployment when we fire you in 2012.
Report Post »saranda
Posted on June 30, 2011 at 11:01amHas anyone noticed we are in a global recession? Creating jobs is not for the faint of heart, which is proven by the fact the extension of the Bush tax cuts has done nothing either.
As for the Reagan comparisons, lets compare apples to apples. Reagan took office in Jan 1980 with unemployment at 6.3%. that rate hit 9% in March 1982 and stayed above 9% until June 1983 and never dropped below 8% until Jan 1984. All this also in a global recession. We were patient with Mr. Reagan and let him use his 11 different tax raises to get out the problems. When do we show the same patience with Obama?
Report Post »Blackhawk1
Posted on June 30, 2011 at 1:15pmReagan endeavored to encourage entrepreneurship and limit the growth of social spending. In addition he reduced not just inflation but also regulations. By the mid-1980s, the economy had recovered substantially and was growing. Reagan also didn’t blame Carter even though the deep recession Reagan inherited was a direct result of Carter socialist policies. Top tax rate was 70%, interest rates were 20%, inflation was astronomical.
BTW Reagan too office 20 Jan 1981, not 1980. Carter was still screwing up the economy in 1980.
Obama has gone in the opposite direction
Report Post »saranda
Posted on June 30, 2011 at 2:26pmOuch, brain fart on the 1980 date…good catch Blackhawk. Still points to requiring the same patience we gave Mr. Reagan. Both inherited a crappy economy from a poor president and both had to deal with global issues that made domestic solutions almost impossible.
Report Post »Didn’t the reduction in regulation lead to the S&L crisis which took the wind out of the sails of a growing US economy in the 80′s. And didn’t the deregulation of Wall street lead to the recession we now find ourselves in. Yeah that dereg stuff has worked wonders for us.
montana-bill
Posted on June 30, 2011 at 10:32amNo suprise, our so called leaders have done nothing to increase employment. Things like cutting pay roll tax, riening in the e p a , d e q, osha and fighting radicle enviromentalist. There are two things killing this economy, solcializm and enviromentalizm.
Report Post »liberalsarealiens
Posted on June 30, 2011 at 10:30amI’m so tiered of all the lies! All we hear is saved and created! RIGHT!!!!! Well, save this Obama, nlh.
Report Post »BuckleUpAmerica
Posted on June 30, 2011 at 10:26amIt won‘t be long before we don’t even know what the unemployment number is because the people who keep up the unemployment number will lose their jobs as well.
Report Post »SHARPCUT
Posted on June 30, 2011 at 10:20amclearly printing more dollars and raising the dept ceiling isn’t working, whats the next move ben? or is this the new norm
Report Post »Blackhawk1
Posted on June 30, 2011 at 12:57pmThis is the new Norm. All the other socialist countries have hovered around 10% unemployment for decades.
Report Post »cntrlfrk
Posted on June 30, 2011 at 10:09amNow what we need?
Higher taxes!!
/
Report Post »turkey13
Posted on June 30, 2011 at 11:36amWhat we need is a real IRS package – woops we had one when every worker paid taxes. Now 45% pay no taxes. If you want to live in America you need to pay a elevated tax. That 45% is a trillion dollars if they all pay $20.00 to the IRS each year. Also here in Oklahoma unemployment is 5.6%. Solo cup company here in our town is always trying to hire. Of course it only starts out at $8.00 per hour and most folks would rather collect wellfair and be like retired folks. They can go fishing or whatever.
Report Post »Mr.ManZ
Posted on June 30, 2011 at 10:07amThis is not New News to anyone with even and ounce of intelect. Odumbo and his faithfully corrupt administration has been churning the numbers for along time now to make it look like things are starting to get better, but it’s became unsustainable even for the dumbazz administration. Now we are seen the raw data and its scary
Report Post »ConservativeAndProud
Posted on June 30, 2011 at 10:04amOh, yes! I’m added to this weeks numbers. Yeah for me!
Thanks, Obama. My job layoff is directly related to your stupid anti-business agenda. Thanks for destroying my profession and job!!!
Report Post »NOBALONEY
Posted on June 30, 2011 at 9:53amObama owns this.
Report Post »nomercy63
Posted on June 30, 2011 at 9:44amWhat # of summer recovery are we in?? Can’t keep track!
Report Post »Blackhawk1
Posted on June 30, 2011 at 9:52amWait for it……………………………………………………………………………..It‘s Bush’s fault.
When does the Bush derangement syndrome end? 2020?
Report Post »OH, I Get It!
Posted on June 30, 2011 at 9:43amObama “JOBS” Strategy: You can’t argue with that 3-letter word.
Report Post »Citrus93TA
Posted on June 30, 2011 at 9:40amWell if it wasnt for the BUSH this would be the roaring 20s all over again LOL , Obama is such a loser .
Report Post »Mr. Oshawott
Posted on June 30, 2011 at 9:39amAnd to think that that Pork-U-Lus Bill (a.k.a. the Stimulus) would produce those “shovel-ready” jobs after throwing hundreds of billions of dollars stright into the black hole…
Report Post »What a joke.
Erabin
Posted on June 30, 2011 at 10:16amAnd now think how bad the situation would be without the stimulus spending and how many jobs it saved.
Report Post »becauseitmatters
Posted on June 30, 2011 at 11:52amPeople say Bush lied about wmd’s.
Obama lied about “shovel ready jobs”.
Report Post »Jenny Lind
Posted on June 30, 2011 at 9:28amNo one needs to tell my family that the jobs aren’t there. We definatly need change, starting with the marxist in the white house.This is exactly what he wants, the financial destrution of our country.
Report Post »Richard Compton
Posted on June 30, 2011 at 9:26amWeek after week the numbers remain above 400,000, yet Obama clains to have created 2.5 million jobs, really, who got these jobs where are they what field of work etc. are these jobs. Do you know anyone who got an Obama job?
Report Post »I think Obama is doing an job on all of us!
RepubliCorp
Posted on June 30, 2011 at 9:24amHe has been the anti-Reagan ……and the results prove who had grip on how a economy works
Report Post »MikeinIdaho
Posted on June 30, 2011 at 10:10amI believe that Obama knows EXACTLY what he is doing. I believe that he is knowingly and purposefully tanking the economy so as to “transform” us into a soviet-style marxist economy that is totally owned and controlled by himself, Soros and their buddies. Each move he has made was calculated to move us further in the direction of marxism in America. I just hope we all wake up before he’s able to completely deflate the economy and enslave us all. God help us as we work to restore the Republic!
Report Post »Erabin
Posted on June 30, 2011 at 10:20amYou know, it’s quite funny that the real-life Reagan is actually the anti-Reagan because you’re worshiping an illusion, not a real person.
Reagan would be way too far to the left on the political scale for your tastes, trust me. Just read about the REAL policies of the guy and their effect, not what you think his policies were.
And you know what? He wasn’t a great president. Yeah yeah, this comes close to uttering a blasphemy on this site, I’m aware of that.
Report Post »Blackhawk1
Posted on June 30, 2011 at 12:46pmErabin
Your right. The largest peacetime growth of the economy, freeing the hostages in Iran that Carter let sit for over 400 days (just by getting elected), negotiating and demanding the removal of the Berlin Wall, Creating 17 million new jobs. One-fourth of the new jobs were created in 68 consecutive months. Black unemployment was cut in half, The inflation rate decreased to less than 4.4%. Family income rose 12%, A return to traditional values. Under Reagan, there was a cut in federal funding of abortions; emphasis on a strong family unit; and the development of family-oriented public policy. A united America.
Yup Reagan was a lefty alright. Where do you liberals come up with this crap?
Report Post »yubba
Posted on June 30, 2011 at 5:29pmIf he knows exactly what he is doing then he is a TRAITOR.
Report Post »Blackhawk1
Posted on June 30, 2011 at 9:23amObama wants to get credit for creating 2.1 million jobs. WHERE??????
Report Post »Superman
Posted on June 30, 2011 at 9:38amHe created those jobs in states 51-57
Report Post »NJTMATO
Posted on June 30, 2011 at 10:06am@ Superman
Report Post »Thanks for the good laugh!!!! Even though it’s really sad, it made me laugh hard!
Living In NYC
Posted on June 30, 2011 at 3:14pmWait for a few days and a “new adjusted” report will come out with more job losses….who believes the fools who “create” this report!
Report Post »I.Gaspar
Posted on June 30, 2011 at 9:20amThanks, Mr. O,
Report Post »Keep up all your great efforts…and we’ll have 100% private sector unemployment before we know it.
You’re right on track with the transformation.
You make Jimmy Carter look smart.
vennoye
Posted on June 30, 2011 at 10:45amWith the decisions this administration is making……….we are going to look back at 400,000 as the “good old days”.
Report Post »commonsenseguy
Posted on June 30, 2011 at 9:18ambut how can this be true,when obama said that spending this country into communism would save or create millions of jobs. how is that hope and change working out for us??? hope obama can run this country into the ground and change it to a communist country in less that 4 years,
Report Post »tower7femacamp
Posted on June 30, 2011 at 9:23amIt’s all good right ?
Thank God Glenn saved us from voting in Ron Paul
in 2008, everyone knows McCain could be this nobody from Illinois
http://www.informationliberation.com/?id=24276
good thing we got TARP passed, that’s to GW Bush
Report Post »hauschild
Posted on June 30, 2011 at 9:43amWhat’s the difference between 2011 and 1979? Back then, the majority of people had the sense and common decency to admit Carter was a complete failure. Now, we’ve got half the country with their heads stuck in the sand. Despite overwhelming evidence that Obama has no idea what he is doing, and worse, seems to embrace that notion, half of our fellow citizens are hell-bent on allowing Obama to finish off what’s left of America.
Report Post »Cobra Blue
Posted on June 30, 2011 at 10:04amWait until they are stuck above 500,000 or more. Then what? Can you say mob rule and PANIC. Tension is building. The country is breaking apart like the Titanic and the main stream media is the orchestra that played until the last possible moment (reference the comment “unexpected”). FOLKS it will forever and always be “unexpected” as far as the main stream media. . With scared politicians on the right and defiant one’s on the left, the die has been cast and the march is on. Collapse is inevitable. Better get prepared. Practice self-reliance. Don’t wait for someone to help you or protect you. Prerpare for the worse case scenario…then anything better than that no problem. When things get bad enough you better be know how to take care of yourself and your family.
Report Post »sWampy
Posted on June 30, 2011 at 10:04amhauschild plus one, well said.
Report Post »jnobfan
Posted on June 30, 2011 at 10:10amThe numbers may be worse because the Obama usually includes summer jobs as new created jobs. If I recall he did exactly that last year.
Report Post »We have one way out of this IMO.
Open up the energy fields in the West/Mid-West to American companies for harvest.
The young folks need jobs and we need to reduce the size of the old cities – they are not practical in 2011. The amount of jobs created by the harvesting, support industries and infrastructure would be enormous and lasting. The price of oil would drop dramatically just by announcing the program so everybody wins. (except the treehuggers)
TomFerrari
Posted on June 30, 2011 at 10:16amPUHLEEEZE, mr. obama…
PLEASE STOP “CREATING OR SAVING JOBS”!!!
We can’t afford it anymore!!!!!!!!
It’s going to be a BAAAD summer, folks!
Many companies have stated they are going to lay off.
MySpace is about to lay off dozens if not hundreds more employees.
What is surprising, is that Murdoch found somebody to buy the myspace dog.
It failed to innovate and keep up with consumer trends.
Software development is EXPENSIVE.
Over-commitment to a specific design/architecture allows for more rapid development and lower cost maintenance of the software, but, it also makes major changes in struture VERY difficult and VERY EXPENSIVE.
Especially when dealing with a social media site, flexibility is crucial – consumers are fickle. You need an underlying engine that is capable of significant changes via changes to the UI (user interface) without significant changes to the underlying database/hardware/engine/etc.
Okay, I got off topic. Sorry!
LOTS of layoffs coming this summer in BIG companies.
Be prepared and HANG ON!
Report Post »ConsiderThis
Posted on June 30, 2011 at 10:17amHey, Liberals, before you get too excited about the awesome 54,000 new jobs, remember that 50,000 came from MacDonald’s adding low pay and limited hour positions. Bravo for MacDonalds but hey, that means Obama only gets to crow about the other 4,000.
Report Post »nysparkie
Posted on June 30, 2011 at 10:38amDaaaaa, ahhhhh, hmmmmm, where’s my teleprompter? Ahhhhh, daaaaa, hmmmmm, We need more “INVESTMENT”. more “STIMULUS”. more “SPENDING”. All you doinks, errrr, I mean rich guys and corporate jet flyers…..open your wallets……I’m here for ya…….I am YOUR President.
Report Post »RAS
Posted on June 30, 2011 at 10:53amImagine what the figure would be if the Obama administration had not “created” jobs by expanding government. Government jobs, of course, are overhead. They don’t contribute to the economy except in places with big government employee colonies, like for example in and around Washington, DC, where the average income is well above the national average and where, except for rising costs of goods and services, prosperity flourishes. One of the many reasons why the Democrats don’t want to cut spending beyond the loss of the ability to stuff gobs of money into their pockets and those of their cronies, is because if they do, government employees will be fired by the thousands and the resulting increase in unemployment statistics will further expose the failure they are and continue to be with the economy. What likely happens then is they lose big in 2012 and beyond.
On an unrelated thing, I want to take this opportunity to say goodbye to Glenn on this, the last day for the Glenn Beck Show on Fox News. He has been a great help educating us about what the Obama administration was up to and the history behind it. I’ve learned a lot from him and I think most of those who have listened to what he has had to say have too. If this Great Nation survives this internal assault on our Constitution and traditional moral values and future generations portray this part of out history faithfully, I’m confident that Glenn will be remembered as a hero of our times. God bless you Glenn!
Report Post »hauschild
Posted on June 30, 2011 at 11:12amI still say it‘s very telling about our citizenry that Obama’s approval numbers remain remarkably high for a dude that has TANKED everything he’s tried, except for Bin Laden (and who really knows if he ordered that, or if it was somebody else’s call.).
I listen to the way he talks in his speeches and when he’s off the prompter and explaining things, he’s a complete moron. It’s like a 12 year old child that has no working knowledge of anything is addressing the nation on any given day.
It’s gone from comical to pathetic.
Report Post »HKS
Posted on June 30, 2011 at 11:41amThis hope and change thing is not working well. The real insanity is that we keep doing it and now they want to do it again.
Report Post »Oldphoto678
Posted on June 30, 2011 at 12:32pmYou can thank the party of no, and the tea party for what has happend to the jobs. News flash…Only 1 in 12 blame President Obama. That means 11 of twelve blame the republiCONs and Wall street. The tea party by default= republiCON. You’re gonna pay 11/12. The majority isn’t standing with you.
Report Post »Blackhawk1
Posted on June 30, 2011 at 12:34pmHere is a message for all the liberals that read the Blaze comments. We don’t want to hear one complaint from you about not having a job, or enough money, or you didn’t get a raise in 2 years, or your healthcare costs are going up, or your taxes are going up, or your 401K isn’t doing to well, or basically anything that happened in your life that put you in a hardship………….YOU VOTED FOR THIS!
Thanks a bunch for nothing you fools!
Report Post »Blackhawk1
Posted on June 30, 2011 at 12:49pmOldphoto678
Where do you live in the land of Fruits and Nuts (San Francisco)? You really have to stop repeating MSNBC statistics, it make you look foolish.
Report Post »Blackhawk1
Posted on June 30, 2011 at 12:52pmOldphoto678
Oh yeah I forgot. The Republicans need to nominate a guy/gal named Generic. The last 3 election polls the Generic Republican beat Obama hands down.
Report Post »JRook
Posted on June 30, 2011 at 2:54pmAnd what did they track a for the last 18 months of Bush and the Republicans masterful handling of the economy??? Let’s put things in perspective.
Report Post »Showtime
Posted on June 30, 2011 at 2:57pm@hauschild
Posted on June 30, 2011 at 9:43am
What’s the difference between 2011 and 1979? Back then, the majority of people had the sense and common decency to admit Carter was a complete failure. Now, we’ve got half the country with their heads stuck in the sand. Despite overwhelming evidence that Obama has no idea what he is doing, and worse, seems to embrace that notion, half of our fellow citizens are hell-bent on allowing Obama to finish off what’s left of America.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Great comment!
My thought, though, about this –
“Last week, the Federal Reserve acknowledged that the economy has slowed in recent months. Fed officials said that “recent labor market indicators have been weaker than anticipated”
– is that the Fed’s goal is weakness, not strength. They would love for unemployment to grow more rapidly in order to crash this country and get it over with. Patience is not a virtue of Progressives.
Report Post »JRook
Posted on June 30, 2011 at 5:42pm@Showtime Which group are you referring to the one‘s who wouldn’t admit Bush Jr. wrecked the country and the economy or the one’s now who blame Obama for not doing more than stopping the free fall Bush left him, or the Republicans who won’t let any job creating legislation get through.
Report Post »SPOT_OF_TEA
Posted on June 30, 2011 at 8:30pmIf everything goes as planned,Obama willl create over 300 million minimum wage jobs and the new American motto will be bust your ass or we bust your head.
Report Post »saneasylum
Posted on July 1, 2011 at 2:42pmHOPE and CHANGE…………Hope and CHANGE….. how’s it working out for you???????????
Report Post »