Jobless Claims reach 26 year high

[WA_Vol]

For the week ended Feb. 21, 667,000 Americans filed initial jobless claims, up 36,000 from a revised 631,000 the previous week. That's the highest figure since October 1982.

In a sign that more jobless Americans are having trouble finding work, 5,112,000 continued on unemployment for the week ended Feb. 14, the most recent data available. That's the highest number since the Labor Department began keeping records since 1967.

Jobless claims spike to 667,000 - Feb. 26, 2009

 

[MG1968]

meanwhile, the Obama administration is rapidly implementing policy that will cost even more jobs to be lost.

Card Check
Cap and Trade
Tax increases
"green" jobs

 

[volger]

And that is just the number who could file. Many others not eligible for unemployment benifits.

 

[volinbham]

And that is just the number who could file. Many others not eligible for unemployment benifits.

This raises an interesting measurement problem. Part of the stimulus bill raises eligibility for unemployment benefits.

So if we see an increase in claims, does that mean more lost jobs or simply more of those who lost jobs accessing public assistance?

 

[T-TownVol]

This raises an interesting measurement problem. Part of the stimulus bill raises eligibility for unemployment benefits.

So if we see an increase in claims, does that mean more lost jobs or simply more of those who lost jobs accessing public assistance?

Yes

 

[vols4sure]

Yes

But, but, the stimulus is going to "save" 4 million jobs. Obama is not going to like how this will make unemployment numbers increase.

 

[T-TownVol]

But, but, the stimulus is going to "save" 4 million jobs. Obama is not going to like how this will make unemployment numbers increase.

but, but, it's W's fault