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Old 06-25-2009, 01:22 PM
 
Location: Rockland County New York
2,984 posts, read 3,692,592 times
Reputation: 1258

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The latest numbers concerning new unemployment claims rose by 15,000 to 627,000 now claiming unemployment benefits.

ETA Press Release: Unemployment Insurance Weekly Claims Report (http://www.dol.gov/opa/media/press/eta/ui/current.htm - broken link)
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Old 06-25-2009, 01:46 PM
 
Location: Portland, Oregon
7,090 posts, read 7,235,390 times
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It's still happening, but it's getting better in the two places I look at (Denver and Portland, OR) overall even with short term blips (like a company folding). I know Portland was traveling up over a percent a month for a bit (now at 12.4%), last month it went up only .3%. At work we were projecting a nearly 40 million shortfall earlier, while now it's break even for the year. It's flipping, it will be slow, but nothing is going to end society.

Last edited by subsound; 06-25-2009 at 02:33 PM..
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Old 06-25-2009, 02:56 PM
 
Location: Wouldn't you like to know?
8,521 posts, read 10,379,812 times
Reputation: 3249
The issue most are missing is not whether it rises fast or levels off.

The main problem will be how long it takes to get BACK on the road to recovery.

We could be "bouncing" off the bottom for quite a while. Many don't think of that, they are just programmed to believe that we will achieve a "V" type recovery, when in fact it could be an "L" type.....
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Old 06-25-2009, 05:48 PM
 
Location: Great State of Texas
75,281 posts, read 36,449,990 times
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I've stopped reading the numbers when they come out and instead look for the adjustments one week later. Still trending up folks and it's been that way for a while. The government is estimating based on these green shoots that don't exist.

Also people are probably falling off the rolls due to their benefits having run out..not that they found jobs because mass layoffs are still happening.

Shadowstats shows unemployment currently over 20%.
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Old 06-25-2009, 08:36 PM
 
Location: Rockland County New York
2,984 posts, read 3,692,592 times
Reputation: 1258
Quote:
Originally Posted by HappyTexan View Post
I've stopped reading the numbers when they come out and instead look for the adjustments one week later. Still trending up folks and it's been that way for a while. The government is estimating based on these green shoots that don't exist.

Also people are probably falling off the rolls due to their benefits having run out..not that they found jobs because mass layoffs are still happening.

Shadowstats shows unemployment currently over 20%.
I wonder how many people have fallen of the government’s list of unemployed after their benefits have run out.
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Old 06-25-2009, 09:47 PM
 
Location: home state of Myrtle Beach!
5,567 posts, read 10,610,920 times
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You can add me to the next available figures. My last day at work is next Tuesday. I will be applying for UE on Wednesday.
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Old 06-25-2009, 09:51 PM
 
Location: Rockland County New York
2,984 posts, read 3,692,592 times
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Quote:
Originally Posted by myrc60 View Post
You can add me to the next available figures. My last day at work is next Tuesday. I will be applying for UE on Wednesday.

Sorry to hear that. My thoughts and prayers are with you.
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Old 06-25-2009, 10:12 PM
 
5,421 posts, read 11,988,488 times
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Good luck to you... and the others out there. Remember don't limit your new career choices. Be open to anything and you will have better luck.
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Old 06-26-2009, 06:01 AM
 
12,375 posts, read 8,209,306 times
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i agree, good luck myrc60 and hope things go well for you.

as far as exhausting unemployment, people might want to look at this chart.
Continuing Claims “Exhaustion Rate” | The Big Picture
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Old 06-26-2009, 06:08 AM
 
12,375 posts, read 8,209,306 times
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you might also want to look at the credit card chargeoff rate versus the exhaustion rate:Credit Card Chargeoffs vs Exhaustion Rate | The Big Picture
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