Initial Jobless Claims Break Downtrend

The weekly initial jobless claims number came in much higher than expected today at 482,000 versus estimates of 440,000.  As shown in the chart below, this jump up to 482,000 has broken the downtrend that was in place since mid-2009.

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Comments

[ask a doctor]

This is bad.. Our government must do something about it..

[Jeff Diercks]

Double dip here we come!

[robert seaman L.A. Calif]

Our federal government should drop the tax rate approx. 25 % on all domestic manufacturing, who uses at least 70% made in USA in their product. This will strengthen our manufacturing base and help with exports. This would help our employment.

[Louis Paquette]

That looks more like a counter trend up tick in an otherwise downward trend - does it not? Not cheerleading the government or the economy or anything else. But new jobless claims are down substantially around 500 from where they peaked last March around 650...

[Doctor]

for the Ask a Doctor.the goverment caused this so what do you mean they should do something? they already did.

They need to get out of the way.

[jcb]

to Ask a Doctor, elaborating on Doctor...

Yes, our government should do something about it: (1) Abolish the Federal Reserve. (2) Abolish the IRS and the Federal income tax. (3) Bring home all troops in all foreign lands and demobilize the army. (4) Cut Federal agencies, such as the Dept. of Energy, the Dept. of Education, and above all the Dept. Homeland Security and the utterly absurd TSA, which will go along way toward... (5) Stop borrowing $.50 of every dollar the Fed Gov spends.

[Leader not a follower]

The government needs to take a history lesson on 1929 to 1939, as they say history repeats itself. Here we go. They will shore up wall street and themseves and the middle class is going to feel the pain. Start paying attention to middle class America and we as Americans need to start paying attention to what is really going on. The evening news on tv does not show the whole story, read read read and make your own decision on what's happening. Vote for the best intrest of America, not just a party you may belong to. God bless America first then the rest.

[Walt D]

Government doesn't create jobs!

[Katherine]

Create a job - get together with enough people to buy a business from a Business Broker that is doing good in this market & insure your job position. It is time to up the risk to have a chance to get through this. Otherwise you will definitely go down.

Risk or Down - easy choice in my opinion.