jobless claims not dropping much

[silk]

Anything over 500k at this point seems like a disaster.

Its June. I figured weekly jobless claims would be down toward 500k by now. Don't we need to get down to about 400k or less to keep the unemployment rate stable at best? I am guessing that 500k a week would be consistent with about a 0.15% increase in unemployment rate each month. Looks like 10.4% end of year unemployment is a lock. Seems like employment has trended worse than expected from start of year.

Also, I assume that unemployment insurance is supporting the 3 million workers layed off in last 6 months. What happens toward end of year when that runs out for these people? There will be few new jobs. Then an entire new wave of households won't be able to support themselves. More foreclosures ect.

 

[426653478]

i have an idea, the DHS can expand by hiring an additional 3 Million citizens, that way they can purchase some 2 Million GM cars, and put a DHS employee or two in each one and have them drive around, randomly selecting other citizens for screening, even search other DHS employees for hazardous material like bottled water

wow, I'm smart

 

[Eliot Hosewater]

Anyone know if last week's numbers were revised up?

 

[piggie2000]

the freakin stock mkt is priced for 400k claims yet we're still stuck over 600k. this whole rally has been a massive fraud

 

[ByLoSellHi]

Wait and watch what happens if (I say when) job losses accelerate again.

 

[MustPlayOptions]

Quote from Eliot Hosewater:

Anyone know if last week's numbers were revised up?

Aren't they always?

http://money.cnn.com/2009/06/11/news/economy/initial_jobless_claims/index.htm

 

[maxpi]

The stock rally is pointing towards the mother of all jobless recoveries..

 

[426653478]

Quote from ByLoSellHi:

Wait and watch what happens if (I say when) job losses accelerate again.

nothing will happen, DHS will keep growing and growing, eventually more than half of america will become DHS employees

we can even have DHS fast foods, maybe call it Mc DHS, and DHS box marts; DHSMart

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[peilthetraveler]

If i have a business with 10 employees and I have to cut back 7 employees 1 week and only 2 employees the next week, does that mean my business is recovering because i cut back less employees the second week even though i only have 1 employee left?

Thats what these economists are trying to spin when they say these jobless claims are down and we are recovering

 

[426653478]

Quote from peilthetraveler:

If i have a business with 10 employees and I have to cut back 7 employees 1 week and only 2 employees the next week, does that mean my business is recovering because i cut back less employees the second week even though i only have 1 employee left?

Thats what these economists are trying to spin when they say these jobless claims are down and we are recovering

if the 9 employees you lost have an IQ over 40, they will be hired by the DHS, if the market knew this S&P500 would be @ 1800