WASHINGTON -- The number of newly laid-off workers filing initial claims for jobless benefits rose unexpectedly last week, evidence that layoffs are continuing and jobs remain scarce.
The rise is the fourth in the past five weeks. Most economists hoped that claims would resume a downward trend that was evident in the fall and early winter.
The Labor Department said Thursday that new claims for unemployment insurance rose by 8,000 to a seasonally adjusted 480,000. Wall Street economists had expected a drop to 460,000, according to Thomson Reuters.
The four-week average, which smooths fluctuations, rose for the third straight week to 468,750.
The figure is the highest in the past two months. Initial claims dropped sharply in late December, raising hopes among economists that layoffs were nearing an end and the economy would soon start generating net gains in jobs.
The figures come a day before the Labor Department is scheduled to report the January employment figures, which are expected to show a tiny gain in jobs. The unemployment rate is forecast to rise to 10.1 percent.
The number of people continuing to claim benefits was unchanged at 4.6 million. That data lags initial claims by a week.
But the so-called continuing claims do not include millions of people who have used up the regular 26 weeks of benefits typically provided by states, and are receiving extended benefits for up to 73 additional weeks, paid for by the federal government.
More than 5.8 million people were receiving extended benefits in the week ended Jan. 16, the latest data available, up from about 5.6 million the previous week. The extended benefit data isn't seasonally adjusted and is volatile from week to week.
Still, the increasing number of people claiming extended unemployment insurance indicates hiring hasn't picked up. That leaves people out of work for longer and longer periods of time.
Some employers are continuing to cut jobs. Wal-Mart Stores Inc. said Wednesday that it will eliminate 300 administrative jobs at its headquarters. The company has cut almost 14,000 jobs in the past 13 months, including 11,200 positions at its Sam's Club stores.
Sony Pictures Entertainment Inc., a unit of Japan's Sony Corp., said Tuesday it is laying off 450 people and eliminating 100 open positions.
Among the states, Oregon reported the largest increase in claims, with 4,336. Puerto Rico and Hawaii also reported increases. The state data lags initial claims by one week.
California reported the largest drop in claims, a decline of 22,674. Michigan, North Carolina, Georgia and Missouri also reported decreases.
More Here..
Groceries To Be Taxed!
Link Here..
Regardless of depression, this is the best moment in human history to innovate beginning with food production.
ReplyDeleteBasically nature automates every process. Plant a seed and it shall well supply us with free food for years to come.
How about transforming all vacant houses and buildings into residential vertical farms? Google vertical farm images.
Tax, tax and more tax, when is enough enough...
ReplyDeleteTax his land,
Tax his bed,
Tax the table
At which he's fed.
Tax his tractor,
Tax his mule,
Teach him taxes
Are the rule.
Tax his work,
Tax his pay,
He works for peanuts
Anyway!
Tax his cow,
Tax his goat,
Tax his pants,
Tax his coat.
Tax his ties,
Tax his shirt,
Tax his work,
Tax his dirt.
Tax his tobacco,
Tax his drink,
Tax him if he
Tries to think.
Tax his cigars,
Tax his beers,
If he cries
Tax his tears.
Tax his car,
Tax his gas,
Find other ways
To tax his a--.
Tax all he has
Then let him know
That you won't be done
Till he has no dough.
When he screams and hollers;
Then tax him some more,
Tax him till
He's good and sore.
Then tax his coffin,
Tax his grave,
Tax the sod in
Which he's laid.
Put these words
Upon his tomb,
'Taxes drove me
to my doom...'
When he's gone,
Do not relax,
Its time to apply
The inheritance tax.
Accounts Receivable Tax
Building Permit Tax
CDL license Tax
Cigarette Tax
Corporate Income Tax
Dog License Tax
Excise Taxes
Federal Income Tax
Federal Unemployment Tax (FUTA)
Fishing License Tax
Food License Tax
Fuel Permit Tax
Gasoline Tax (currently 44.75 cents per gallon)
Gross Receipts Tax
Hunting License Tax
Inheritance Tax
Inventory Tax
IRS Interest Charges IRS Penalties (tax on top of tax)
Liquor Tax
Luxury Taxes
Marriage License Tax
Medicare Tax
Personal Property Tax
Property Tax
Real Estate Tax
Service Charge Tax
Social Security Tax
Road Usage Tax
Sales Tax
Recreational Vehicle Tax
School Tax
State Income Tax
State Unemployment Tax (SUTA)
Telephone Federal Excise Tax
Telephone Federal Universal Service FeeTax
Telephone Federal, State & Local Surcharge Taxes
Telephone Minimum Usage Surcharge Tax
Telephone Recurring & Non-recurring Charges Tax
Telephone State and Local Tax
Telephone Usage Charge Tax
Toll tag Tax
Transportation Tax
Utility Taxes
Vehicle License Registration Tax
Vehicle Sales Tax
Watercraft Registration Tax
Well Permit Tax
Workers Compensation Tax
This has been circulating on the internet. Not my work, but I approve.
9:30 is spamming.
ReplyDeleteRe: "But the so-called continuing claims do not include millions of people who have used up the regular 26 weeks of benefits typically provided by states, and are receiving extended benefits for up to 73 additional weeks, paid for by the federal government."
You have to remember though that people like myself, who got laid off in August, don't even get the extensions. It's a trick. Right now Congress has not extended the extensions for most people who were laid off next year, that means once I drop off the unemployment, I no longer count as unemployed, even though I could very well be on the streets.
Correction to 10:29
ReplyDeleteI meant to say: Congress has not extended the extensions for most people who were laid off LAST year, that means once I drop off the unemployment, I no longer count as unemployed, even though I could very well be on the streets.
People, the extensions are basically a hoax. When they say you can be on them for nearly 73 or even 99 weeks, remember please that most people are not even getting them! They make cut-off deadlines strict so that we cannot get the extensions!!!!!!!!!!!
I HAVE BEEN OUT OF WORK FOR TWO YEARS. AND DON'T FOR A MOMENT THINK I AM NOT EDUCATED AND I USED TO WORK AT WAL-MART OR KENTUCKY FRIED CHICKEN.
ReplyDeleteI HOLD A DEGREE IN ELECTRONIC ENGINEERING. I WAS LAID OFF/CANNED TWO FUCKING YEARS AGO. AND I STILL HAVEN'T FOUND A JOB.
THE AMERICAN ECONOMY HAS TO EXPAND AGAIN. IT WILL BUT EVEN I NEVER ANTICIPATED BEING OUT OF WORK FOR TWO FUCKING YEARS. AND NOW, A LOT OF EMPLOYERS ARE HIRING ENGINEERS FROM INDIA. THAT IS UNFAIR TO AMERICANS.
Lost my job in Sept of 2008. I'm still jobless.
ReplyDeleteHas everyone forgotten NAFTA? That huge sucking sound? How is this free trade sounding now? No one seemed to be concerned about it during the 90's but now it's coming home to roost. All good jobs have been outsourced along with most of our industry. Who's to blame? The American populace for being apathetic and not protesting against this move to a free trade debacle. Now it's too late to recover - the horse is out of the barn and it will be many painful years before America becomes a sovereign nation again.
ReplyDeleteYes i was laid laid off in june of 2008.at age 62 I have no luck finding a job,After being employed for thirty years at the same good paying job.The only jobs are low paying part time.Also i will not be able to draw full social security,because of my age.
ReplyDeleteDoesn't NAFTA = North American Free Trade Agreement? I don't think all the jobs are going to Canada or Mexico, they're going to China and India.
ReplyDeleteMexico has a massive amount of products produced that were formally produced in the US prior to NAFTA. When NAFTA was approved, the sucking sound started and Mexico sucked a huge number of jobs out of the US. Check it out. So not ALL the jobs are going to Mexico, but those combined with China and India insures that we are in a world of hurt.
ReplyDeleteCASH WILL ALWAYS BE KING
ReplyDeleteYes, by all means hang on to as much cash as you can. When the SHTF commodities like toilet paper may be hard to come by, and that's when your cash will come in handy.
ReplyDeleteCollege kids are going to have hell getting a college entry level job in this depression and will mostly have to flip burgers and wait tables but even those tip restaurant jobs will be hard to get with all the unemployed. The health field will be the only place hiring much.
ReplyDeleteThis is scary. I am in my thirties, also have a degree, and there are no jobs. Sure, some jobs are listed, but when you go to the interviews you're told that they have HUNDREDS of applicants.
ReplyDeleteI know someone who has gone to interview after interview and nothing ever happens. It's kind of like playing at a casino -- if you're lucky, you might get the job out of hundreds or thousands of applicants.
And no, there is no recovery from this. These jobs will NOT be back again.
The government will be the ONLY employer in most countries. Why? So they can have TOTAL control of you, your finances and your lives. They will own every restaurant, property and business. Sort of like they do now but by a MUCH WIDER MARGIN SOON.
ReplyDelete3:58 I hear the same thing. The only college grads getting a job are in nursing or something like that or they have a great connection to get them inn somewhere. It has never been this bad before. I think I read 80% are having to move back with their parents and almost half of that 20% that didnt are just waiting tables or some other job like that. Some are adding to the debt they will never be able to pay back by going for a Masters Degree which isnt getting anyone hired either.
ReplyDelete8:31 is a riot !
ReplyDeleteNever farmed and couldn't grow crown vetch on a mountain of cow manure.
Vertical farms ! get real pie in the sky from downtown manhattan. It's right up there with the ole Bio Dome 20 year ago - yeah baby; that was the answer.
People who have never actually farmed or raised crops for a living have no clue - none.
One example out of One Thousand i could site.
You get ONE - just one unfriendly bug in that sumbitch and you are D - O - N -E and I don't mean maybe. If you think mother natures a bitch; wait until you have to deal with her sisters !
Ha! That's a scream - you actually made my week - thank you !
Who is this King Cash? What country does he rule. Sure is hell isnt king in America.
ReplyDelete