New Weekly Jobless Claims Rise by 11,000 from Previous Week to 531,000 … 10% Unemployment cannot be Far Away


More signs that the economy is getting better as per the Obama Administration. Hey Barack Obama, your stimulus bill just lost another 11,000 jobs. The US did not lose 520,000 jobs this week, we lost 531,000! Every state except North Dakota has lost jobs since the stimulus plan was enacted.

This most recent weekly addition of the subtraction of 11,000 jobs should continue to weigh down Obama’s approval ratings. Wait until unemployment hits the magic number of 10% and see what happens to The One’s approval ratings and this administrations spin that the economy is getting better. Americans have stated that job creating should be the President’s number one goal. These numbers are going to leave a mark.

The number of newly laid-off workers filing claims for jobless benefits rose more than expected last week, after falling in five of the past six weeks.

There is little sign that employers are willing to hire, even as the economy shows signs of recovering.

The Labor Department says new jobless claims rose to a seasonally adjusted 531,000 last week, from an upwardly revised 520,000 the previous week. Wall Street economists had expected only a slight increase, according to Thomson Reuters.

The number of people continuing to claim benefits dropped for the fifth straight week to 5.9 million, from just over 6 million the previous week.

And even more bad economic news as oil hits $82 a barrel as the dollar plunges.

White House economist Christina Romer says stimulus has already had its biggest impact on economic growth and will likely not contribute to significant expansion next year. Give me a break, they are still using the created or saved unsubstantiated comment regarding jobs.

Christina Romer, the chair of President Barack Obama’s Council of Economic Advisers, said Thursday that the $194 billion already spent gave a jolt to the economy that contributed to growth in the second and third quarters of the year. She told a congressional panel that by the middle of next year, the impact of the stimulus will level off. Romer said spending so far has saved or created 600,000 to 1.5 million jobs but warned that unemployment will remain high, above 9.5 percent, through the end of 2010.

If you liked this post, you may also like these:

  • Weekly Jobless Claims Rise 25,000 to 471,000
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  • Weekly Initial Jobless Claims Back Up to 424,000, Week Ending May 21, 2011
  • Initial Jobless Claims up to 454,000, An Increase of 51,000 from Previous Week
  • The Obama Job Recovery Plan … New Jobless Claims Rise to 484K, Second Straight Week, Reach Highest Level Since February

  • Comments

    7 Responses to “New Weekly Jobless Claims Rise by 11,000 from Previous Week to 531,000 … 10% Unemployment cannot be Far Away”

    1. Pat in alabama on October 22nd, 2009 8:22 am

      Pay no attention to that man behind the curtain! Things are really getting better!

    2. Scared Monkeys on October 22nd, 2009 8:41 am

      What is Obama and his minions going to do when unemployment hits 10%.

      I guess they will attack FOX News. Oh wait, they have already done that.

    3. Buster on October 22nd, 2009 9:48 am

      #2 Scared Monkeys, After we hit 10% (Friday) obongo is going to blame the Scared Monkey Forum !!!

    4. Penni on October 22nd, 2009 11:04 am

      The WH will blame The Bush Administration. This is always a good fall-back.

    5. on October 22nd, 2009 3:33 pm

      Penni: He’s done that straight for nine months and I’ll hazarded a guess that he’s not going to stop for the next 3 years.

      SM: bad mouthing Fox ain’t the first time O’s gone after the citizens and businesses of the USA that he’s paid to protect and defend. We are getting quite a list: Rush Limbaugh, Chamber of Commerce, Fox News, Chrysler Creditors and………. here comes the American Medical Association for failing to get on board obama control care.

    6. super dave on October 23rd, 2009 8:42 am

      all this stimulus money wasted on pet projects and politicians’ special interests. where are the three million jobs BARRY ?
      the obama administration has been a loser from day one.

    7. paul on October 23rd, 2009 1:47 pm

      Michigan Unemployment Trends – September 2009

      Michigan Unemployment Trends Visualized as a Heat Map:
      Michigan Unemployment in September 2009 (BLS data)

      versus Michigan Unemployment Levels 1 year ago

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