Posts Tagged ‘Department of Labor’

“Where Are the Jobs, Mr. Speaker?”

Data from the weekly unemployment claims have a chilling affect!

The Department of Labor unemployment data for the weeks of January 13th and the 20th contained some frightening numbers, but most everyone focused on the more positive seasonally adjusted numbers in the two reports.

Seasonally adjusted initial claims on the 13th showed a large, but manageable, increase of 35,000 after the two holiday-shortened weeks. For the week of the 20th the number declined by 37,000 reversing all the negatives from the previous week’s rise. And seasonally adjusted continuing claims actually showed a surprising improvement, dropping 248,000 on the 13th and another 26,000 on the 20th.

Seasonally adjusted claims fell to the low four-hundred thousands, which is viewed by some as good news.

But, the unadjusted numbers were disturbing, showing little gain from last year’s totals. On the 13th initial claims climbed nearly 192,000; a total of 770,413 individuals filing for unemployment compensation. And though 212,504 fewer people filed on the 20th, 550,594 people signed up for benefits. Seasonal adjustments may no longer be valid given the depth of this unprecedented and lingering recession.

Over half-a-million hard-working Americans are still being laid off across the U.S. each week in construction, transportation, retail and the manufacturing and service industries. Healthcare is one of only a couple areas that are still growing and increased by 36,000 in December.

So, where are the jobs, Mr. Speaker?

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“So…. Where Are the Jobs?”

The economy has turned, and though recovery is slow, things are improving!

The recession is over!

And Nero fiddled while Rome burned.

For four straight months the economy had added jobs and expectations were high among analysts for the May report. They expected over half-a-million new jobs on Friday, and the whisper number was even higher. The number was good; 431,000 new jobs in May.

But it wasn’t exactly what the market wanted and there was a caveat. This month’s number included 411,000 Census workers hired temporarily by the government to complete the 2010 Census. These, of course, are only temporary and will be gone by the end of summer.

But, the U.S. isn’t Rome and the Obama Administration is doing all it can to put people back to work.

So…. Where are the jobs?

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