Unemployment Insurance Weekly Claims Report (02/10/2011)

[mahatmakanejeeves]

Source: Department of Labor, Employment and Training Administration

UNEMPLOYMENT INSURANCE WEEKLY CLAIMS REPORT

SEASONALLY ADJUSTED DATA

In the week ending Feb. 5, the advance figure for seasonally adjusted initial claims was 383,000, a decrease of 36,000 from the previous week's revised figure of 419,000. The 4-week moving average was 415,500, a decrease of 16,000 from the previous week's revised average of 431,500.

The advance seasonally adjusted insured unemployment rate was 3.1 percent for the week ending Jan. 29, unchanged from the prior week's unrevised rate of 3.1 percent.

The advance number for seasonally adjusted insured unemployment during the week ending Jan. 29 was 3,888,000, a decrease of 47,000 from the preceding week's revised level of 3,935,000. The 4-week moving average was 3,932,250, an increase of 250 from the preceding week's revised average of 3,932,000.

Read more: http://www.dol.gov/opa/media/press/eta/ui/eta20110154.htm

[dmallind]

1. More terrible doom-sounding news

at least I'm sure someone will explain why soon. We should start a pool. Will it be:

There is nobody left to lay off

It needs to be (some number lower than this, regardless of what "this" is)

It's all fake numbers made up by the corporatist banksters and their peons anyway

They will just revise it up next week as always

[Thor_MN]

2. As long as idiots keep believing in supply side nonsense...

Let's see, if I toss money at corporations that are laying off people because no one is buying the crap they make, the overpaid execs are going to decide to ramp up porduction, bring back the workers to make more crap that no one can afford to buy, right?

Supply side just doesn't work. You can't bring back the buggy whip industry by giving them tax breaks. They have no demand, so stimulating supply is just plain foolish.

Stimulate demand, either by giving money to low income people or by directly purchasing infrastructure (which we need anyway). Either on puts money in the pockets of people that will spend it. That increases demand, which means that the f'ing corporations will see more sales and do what they do. Supply will take care of itself if there is demand.

[russspeakeasy]

4. As long as the banks are o.k. we have nothing to worry about...

Now if we could just reduce the taxes on the uber rich.

[saras]

5. It takes supply and demand

You create the demand by making it legal for the rich to horsewhip the poor, THEN you give tax breaks to the whip manufacturers.

[bossy22]

3. GREAT NEWS!!!!!!

i know the doom and gloomers will be here soon to tell us but we have to remember that before we can go fowards we must stop going backwards first

i would also like to add that even in good times the weekly unemployment rate was about 200,000 filings a week- why?- because there's always job turn over- even in good times. The difference between good times and bad times in this respect is that in good times more jobs for every 200,000 new jobless filings there are 250,000 new jobs.