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Those stubborn initial unemployment filings October 1, 2009

Posted by geoff in News.
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The unemployment figures for September will be released tomorrow morning. Based on the initial unemployment claims, I think there’s a pretty fair chance we’ll break 10% this time (though the experts are predicting 9.8%). Here are the data for the initial claims (seasonally adjusted):

Initial-Unemployment-Filings-September
As you can see, while we’re on a general downtrend, we’re nowhere near the normal level of 300,000 filings per month, and our rate of recovery is painfully slow. We can’t seem to get the initial filings number under half a million. That means that the economy is still losing jobs, unemployment is still rising, and that the benefits of the stimulus package remain imperceptible.

Tomorrow’s unemployment number should cause quite a stir.

Comments»

1. composmentis - October 1, 2009

Thanks goodness the Federal Government is hiring folks left and right, else this country would be in real trouble.

2. harrison - October 1, 2009

Thanks goodness the Federal Government is hiring folks left and right, else this country would be in real trouble.

The shame being they don’t actually do anything that creates capital.
So father down the tubes we go.

3. Cathy - October 1, 2009

Thanks goodness the Federal Government is hiring folks left and right…

Mostly left… and don’t forget about all those saved jobs.

4. geoff - October 1, 2009

Getting hits on last month’s unemployment chart from HotAir’s post today. Everyone’s getting hyped for tomorrow’s BLS release.

There’s blood in the water.

5. Cathy - October 1, 2009

Talk radio guys are talking about it today…

…pumped up & pissed off (but not surprised) about the bad numbers.

Might be part of the feeding frenzy, Geoff.

6. geoff - October 1, 2009

You remember when the July number went down, and the administration was patting themselves on the back for the success of the stimulus package? If the number goes up (and it pretty much has to), I’m going to hammer them for that.

7. Tushar - October 1, 2009

geoff,

Every month, I need my chart fix. I am getting withdrawal symptoms.

8. d3ft punk - October 1, 2009

I need my triangle fix!

9. September Unemployment: The Job Loss Accelerates « Innocent Bystanders - October 2, 2009

[…] Initial unemployment filings […]


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