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NEW Jobless Claims Rise More Than Expected to 584,000; Stimulus Plan Praised as a Success!

WASHINGTON -- The government said the number of newly laid-off workers filing first-time claims for jobless benefits rose last week, though the increase was mostly due to seasonal distortions.

The Labor Department said new claims for unemployment insurance increased by 25,000 to a seasonally adjusted 584,000, above analysts' estimates of 570,000.

A department analyst said the increase comes after claims were artificially lowered earlier this month by the timing of auto factory shutdowns, which happened earlier this year than usual.


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Added: Jul-30-2009 
By: jsczerby
Tags: unemployment, jobless, economy, stimulus, obamenomics, government failure
Views: 8926 | Comments: 25 | Votes: 1 | Favorites: 2 | Shared: 0 | Updates: 0 | Times used in channels: 1
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