Here are the latest unemployment claims with the appropriate revisions
By Daniel at 18 June, 2009, 1:59 pm
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So don’t believe things are getting any better.
For 20 weeks now we are above the 600,000 claims per week.
19 out of the last 20 weeks were later revised upwards with additional unemployment claims (adding to a total of an additional +98,000 claims):
Initial report at 626K revised (+) at 631K for 01/31
Initial report at 623K revised (+) at 627K for 02/07
Initial report at 627K revised (+) at 631K for 02/14
Initial report at 667K revised (+) at 670K for 02/21
Initial report at 639K revised (+) at 645K for 02/28
Initial report at 654K revised (+) at 658K for 03/07
Initial report at 646K revised (-) at 644K for 03/14
Initial report at 652K revised (+) at 675K for 03/21
Initial report at 669K revised (+) at 674K for 03/28
Initial report at 654K revised (+) at 663K for 04/04
Initial report at 610K revised (+) at 613K for 04/11
Initial report at 640K revised (+) at 645K for 04/18
Initial report at 631K revised (+) at 635K for 04/25
Initial report at 601K revised (+) at 605K for 05/02
Initial report at 637K revised (+) at 643K for 05/09
Initial report at 631K revised (+) at 636K for 05/16
Initial report at 623K revised (+) at 625K for 05/23
Initial report at 621K revised (+) at 625K for 05/30
Initial report at 601K revised (+) at 605K for 06/06
Initial report at 608K for 6/13 (preliminary, to be revised upwards)
Continuing claims drop signifies only that people have started running out of the 72 week maximum payable benefits.
A reminder that during periods of low unemployment initial claims are in the range of 250K-350K per week. So we are averaging over 1.2 million of additional unemployment claims per month since the beginning of this year.
The US need to create a minimum of 100K-150K jobs a month in order to keep up with population changes.
Still, the media is missing the point — This is a JOBLESS recovery at best, as so far there are almost no trends showing folks being hired back.
In fact I count my blessings each day I can go to work. However, each day gets a little harder (with lots of OT) as the work others did gets dumped on the remaining 90% lucky enough to have a job. Hopefully, the tide will turn for some increased hiring in the future, but I ain’t seeing any signs thus far.
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