U.S. weekly initial jobless claims rise to 407,000

[Amerigo Vespucci]

Source: Marketwatch

WASHINGTON (MarketWatch) -- First-time applications for state unemployment benefits rose last week, the Labor Department reported Thursday -- the eve of the release of pivotal data on the state of the nation's job market.

Claims for the week ended March 29 rose by 38,000 to reach 407,000, marking the highest level seen for this economic indicator since mid-September 2005.

The four-week average of initial claims also rose, increasing by 15,750 to 374,500, and thus hit the highest since the beginning of October 2005.

Economists see readings consistently higher than 350,000 as signaling significant weakening in the labor market. Initial claims ranging from about 300,000 to 325,000 are consistent with a healthy rate of U.S. employment growth.

Read more: http://www.marketwatch.com/news/story/weekly-us-jobless-claims-highest/story.aspx

[dkf]

1. I've noticed a string of business shutdowns locally.

Its beginning to hit close to home.

[Amerigo Vespucci]

5. I met with a client on Monday...

...who provides finishing services to the semiconductor market. He had learned of another one of his clients that's going to be packing up and heading overseas. He looked at me like he had just stepped out of a car crash and said "ALL of the semiconductor companies are LEAVING..."

[magellan]

2. But recession is still only a "possibility" according to Helicopter Ben

:eyes:

[Yavin4]

10. To Be Fair, Ben Was Talking About His Wall Street Cronies

not us working vermin.

[global1]

3. With The Sub-Prime Problem; Jobless Rate and Impending Recession.....

all of a sudden it makes sense that *Co changed the 'bankrupcy' rules.

It's like this was all planned.

[Mountainman]

4. I heard a bit of wing nut radio this morning. The guy from the administration was talking about the

unemployment numbers and his conclusion is that we need to cut taxes for the wealthy again!

[Amerigo Vespucci]

6. YES! So they'll use that money to create new jobs...

...or maybe just spend it on themselves. Hard to predict.

:rofl:

[Mountainman]

7. They will create new job, just not in this country

[fasttense]

8. It's worse then the bush numbers make it appear.

The number of people holding part time jobs that want full time jobs has risen, and the number of people holding more than one job have increased. The number of people, like myself, who have just given up looking for a job has increased. Also the number of seasonal and part time jobs being offered has declined. My local paper's classified adds for jobs has been reduced to a half page. It use to be two pages.

The underemployed are rarely counted.

[My Good Babushka]

9. It's our first time application

After nine years with the same mutual fund company,my husband told me last week after we'd put the kids to bed that he'd been let go. No severance. No nothing, and our health insurance ran out four days later. We just don't know what's going to happen next.

[Supersedeas]

11. nothing to see here -- feed them more Naomi

[Megahurtz]

12. This Country is crashing.

:nuke: