Posted September 25, 2008 9:59 AM
by Frank James
The U.S. Labor Dept. reported that weekly unemployment insurance claims were up last week by 493,000, an increase of 32,000, the highest level in seven years. Nearly a tenth of the claims were estimated to be the after effects of Hurricanes Ike and Gustav.
According to the Associated Press:
Even excluding the effects of the hurricanes, jobless claims remain at elevated levels. Weekly claims have now topped 400,000 for ten straight weeks, a level economists consider a sign of recession. A year ago, claims stood at 309,000.
The number of people continuing to draw jobless benefits last week was 3.54 million, up 63,000 from the previous week and nearly a five-year high. The four-week average of continuing claims was 3.49 million.
Comments
It's actually worse.
As the "shadow statistician" C Span had on this morning pointed out.
Bush forced the agencies to overstate GDP figures and understate numbers like the unemployment stats.
More lies from the lyingest administration ever. Worse even than Nixon.
Posted by: ornery | September 25, 2008 10:23 AM
You believe those numbers and have I a bank, I would like to sell you, cheap !! Yet, another reason we can thank the Republican Party for giving us George Bush and Rich Cheney !! Now, they want to gift us with John McCain and Sarah Palin !! Can they get any more generous ?!! Actually, they want to finish the job, to dismantle all of those programs, enacted in response to the great depression, that helped the people of this country. Those people that do not want to, nor will they, participate in this " cannibalistic " capitalism, in which some, in this nation, are now engaged !! Feeding on the our own, they are worse than bottom-feeders, the Bush-McCain Republicans!! They should be impeached !! Where's Bob Barr or Lindsey Graham or Newt Gingrich, when a real impeachment is called for !!! Counting their money, or should I say, our money, the taxpayer's money !!!
SUPPORT OUR TROOPS, BRING THEM HOME, ALIVE AND WHOLE. NOW.
Posted by: Don Fitzgerald, Chicago | September 25, 2008 10:42 AM
We need to create more jobs; not make it easier to unionize the remaining ones. Don't bail out unions at the cost of employee voting rights:
http://www.oregonlive.com/news/oregonian/david_reinhard/index.ssf/2008/09/an_attack_on_the_secret_ballot.html
Posted by: Protect Employees' Right to Vote in Private | September 25, 2008 11:55 AM
I would stuff my mattress with cash if I had any. Bush has really left us with a mess. Obama has that right.
http://www.boppoll.com
Obama '08
Posted by: Stash the Cash! | September 25, 2008 12:20 PM