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Jobless claims rise by largest amount in 3 months

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http://news.yahoo.com/s/ap/20100520/...V0A2FwLzIwMTAw

 

 

By MARTIN CRUTSINGER, AP Economics Writer, Thu May 20, 4:29 pm ET

 

 

WASHINGTON, The number of people filing new claims forunemployment benefits unexpectedly rose last week by the largest amount in three months. The surge is evidence of how volatile the job market remains, even as the economy grows.

 

 

Applications for unemployment benefits rose to 471,000 last week, up by 25,000 from the previous week, the Labor Department said Thursday. It was the first increase in five weeks and the biggest jump since a gain of 40,000 in February.

 

Ian Shepherdson, chief U.S. economist at High Frequency Economics, said one reason the improvements have stalled is that small businesses are having trouble getting loans. They create half of the new jobs in the country.

 

 

The Labor Department said the number of people receiving jobless benefits fell by 40,000 to 4.63 million for the week ending May 8.

 

 

However, that figure does not include unemployed workers who have exhausted their regular 26 weeks of benefits. An additional 5.3 million workers are receiving extended benefits paid for by the federal government for the week ending May 1.

 

 

The extended benefits have added as many as 73 weeks of unemployment on top of the 26 weeks customarily provided by the states. But jobs have been scarce for so long that many of those out of work will soon run out of the extended benefits.

 

 

For the week ending May 8, 35 states and territories saw increases in applications for new jobless benefits and 18 saw declines

 

Is it still Bush's fault ? Is making 15 to 20 million Criminal Invaders Legal going to make this better or worse?

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First 3 Weeks of May, 1.2M+ new UI Claims.

 

There is still a 'bunch' of ARM's out there, as Interest Rates go up, so Foreclosures will follow.

 

The list of Banks in 'trouble' is now over 700.

 

Yep, things are getting better all the time.....cwm31.gif

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View PostAnd the illiegal Mexicans are stealing Billions from our economy and sending it back to their families in Mexico.

 

 

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Ahhhh........ The very reason Mr. Calderon whines like a little Girl at the mention of closing our Border, he wants to keep Mexico's 'Cash Cow' accessible. Plus, that's the very reason Mexico shuts down their Southern Border as best as they possibly can. He does not want Mexico to be a 'Cash Cow' for Central America..........cwm40.gif

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