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Jobless Claims Rise Sharply - In Us - Figures Manipulated

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http://www.nytimes.com/2008/08/07/business...amp;oref=slogin

WASHINGTON — The number of newly laid off people signing up for jobless benefits last week climbed to its highest point in more than six years as companies cut back given the faltering economy.

The Labor Department reported Thursday that new applications filed for unemployment insurance rose by a seasonally adjusted 7,000 to 455,000 for the week ending Aug. 2. The increase left claims at their highest level since late March 2002.

A program to locate people eligible for jobless benefits played a role in the increase, a Labor Department analyst said. However, the analyst could not say how much of a role.

The latest snapshot of layoff filings was worse than analysts expected. They were forecasting new claims to drop to around 430,000.

The new layoff filings were distorted by the outreach program to notify people that they could qualify for additional benefits under a new law.

When people went to state claims offices to apply for these extended benefits, state officials discovered that some were eligible for — but have not filed for — their initial unemployment benefits, the Labor Department analyst said. That accounted for some of last week’s increase, he said.

Meanwhile, the four-week moving average of claims, which smooths out weekly fluctuations, rose to 419,500 last week, the highest since mid-July 2003.

The number of people continuing to collect unemployment benefits went up by 31,000 to 3.3 million for the week ended July 26, the most recent period for which that information is available. That was the highest since early December 2003.

Among the companies announcing job cuts in late July or early August were: General Motors, Weyerhaeuser and Starbucks. Bennigan’s restaurants owned by privately held Metromedia Restaurant Group, are closing, driving more people to unemployment lines.

Perhaps in the future we should just ignore the unemployed then we can claim there are no unemployed and everything will be fine. Amazing they went looking for unemployed people found them, counted them and then realised the number had gone up. I say all claims offices should be mobile, drive around the street and you can only get on when they stop at traffic lights. I predict unemployment count will drastically reduce.

Or we could use Stalin's trick and just say each month unemployment is down and house prices have increased and dissenters who dispute this will be shot. Although that may affect the numbers using this forum.

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  • 399 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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