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"WASHINGTON (AP) — The number of unemployed workers receiving unemployment benefits jumped to an all-time high near 5 million, while new jobless claims remain well above 600,000. The government also announced that inflation at the wholesale level surged unexpectedly in January, reflecting sharply higher prices for gasoline and other energy products.
The Labor Department says new applications for benefits totaled 627,000 last week, the same as the previous week. But that was still more than the 620,000 claims economists expected.
The number of people receiving regular unemployment benefits edged up to 4.99 million, marking the fourth straight week those receiving benefits have been at a record level. The continuing claims figure also was higher than analysts expected..."
7 comments:
This situation is spiraling out of control.
How are we ever going to get jobs back?
Heard an economic expect saying it will take 15 years to begin to recover & if he lives another 40 years, doubts it would be restored.
Bleak!
oh thanks fran....
I am so grumpy....sorry...
hmmmm......beyond bleak....
cali is the first state to face the depression head on...one of the highest foreclosure rates and double digit joblessness...but their budget passed- with many solutions and cutbacks...
40 states are facing budget dilemmas, and are working in the red.....
40 ....that is quite a crunch....
One economist did say the silver lining is that it will force people to get real with all things financial. So many were living beyond their means.
I see the new mortgage bailout program has a strict ratio or percentage of your income that can go to housing. Responsible lending should not allow people to buy houses they really can't afford.
We still have a family member in the ranks of unemployed. The next potential return to work date is March 2. We did resort to a one time $200 utility bill assist for the unemployed.
Bush effed it up so bad, it is going to take a long time to get back on solid ground.
DK posted about how some talking heads are calling it "Obama's Depression".... I suggest we refer to it as *Bush's Bankruptcy*.
Let's be clear we inherited this mess from the shrub. That's not going to fix the problem.... but we've had enough lies from that administration...
this happened under HIS watch.
you have every right to be grumpy.... sick of the severe winter weather, this financial scene too close for comfort, things are going to be tight & a struggle for longer than any of us imagined.
"inflation at the wholesale level" ... yes prices for goods are soaring, yet housing prices are totally deflated & so is interest and dollar exchange rate ... everything's out of whack! And oh yeah, "Obama's Depression" ... that is pure repub propaganda; we can't let them get away with calling it that.
Fran and DK:::
yup...leave it to the Repugs to call it Obama's depression their delusional propaganda skills are beyond comprehension....oye....
I think reality is hitting for most folks....little things - people are not going out- and they are packing lunches and skipping Starbucks...and buying wine and beer on sale...and food in general...and I have seen all kinds of Folks Couponing....it's funny - I have been living like that for years- I never knew people needed help to learn how to live like that....
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