Jobless Claims, Inflation Jump as Economy Wobbles

[The Northerner]

Source: CNBC with wires

Both the number of workers filing new applications for unemployment insurance and producer prices unexpectedly surged, dealing a setback to hopes the economy was showing a strong recovery.

Initial claims for state unemployment benefits increased 31,000 to a seasonally adjusted 473,000 in the week ended Feb. 13, up from an upwardly revised 442,000 the prior week, the Labor Department said.

Meanwhile, producer prices rose faster than expected in January as higher gasoline prices and unusually cold temperatures helped boost energy costs.

More Jobless Claims

Analysts polled by Reuters had expected claims to drop to 430,000. The prior week was initially reported as 440,000.

A Labor Department official said the weather did not deter people from filing claims because at least 95 percent of initial claims are now filed on line or by telephone. Claims for four states, including California and Texas, were estimated.

Read more: http://www.cnbc.com/id/35457298

[ixion]

1. it's always "unexpectedly" that these PLAIN AS DAY things happen

what idiots.

[proudohioan]

3. +1 !!!!!

[OhioChick]

5. +2 n/t

[Joanne98]

2. Producer prices are rising thanx to the hedge funds speculating up

the price of basic materials and commodities.

CNBC NEVER explains this.

[No Elephants]

4. I don't trust CNBC, Faux Business. WSJ. or most major media.

[OnlinePoker]

9. So where do you get your unbiased info from? n/t

[flyarm]

6. now ,where oh where, are all the DU'ers who have told us over and over again..the economy is in

RECOVERY????????

Recovering what?????????...oh and the number of small businesses that have closed up shop where i live..the only thing recovering is the "AVAILABLE" SIGNS PLASTERING MY TOWN .on window fronts everywhere..yes the company making those signs is recovering..and doing quite well!.oh and the forclosure sign makers!!

Oh and i was just in LA and i saw the same recovery in "Available" sign companies there as well..

oh and another recovery is the sign companies that make the signs.."AUCTION" for new condo's sitting empty..by the thousands and thousands!!

[Romulox]

7. Thank GAWD for them GREEN SHOOTS!!!! nt

[Romulox]

8. PS: It *IS* logically possible for payroll numbers to go down and unemployment to drop

at the same time.

I swear!

[bvar22]

10. But Obama and Bush "saved the economy"....

...by "bailing out" a handful of FAILED Wall Street banks.
...didn't he?
Didn't these TRILLIONS Trickle Down on us Working Class folks?

Has to be true.
Obama said so.
Hank Paulson said so.
The Wall Street Bankers said so.
and I read it on DU.
.
.
.
.
Everyone who got Free Money, and the politicians on their payroll ALL agree
that they saved The Economy....
so it MUST be true.

[tabasco]

11. Better a wobble than the free fall we had under AWOLBush

How soon we forget.