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Mid-January Initial Unemployment Claims January 21, 2010

Posted by geoff in News.
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Economists were expecting initial unemployment claims to drop slightly for the week ending Jan 16, but they bounced up by 36,000 to 482,000. Here’s where that puts us on our “How Long Until We Stop Hemorrhaging Jobs” chart:

The end of job losses is projected for mid-summer. Just about the time when economists predicted that the economy would heal itself without the stimulus.

Of course, it doesn’t have to take that long. All the administration and Congress have to do is declare a business-friendly environment, and put a hold on legislation that’s hostile to businesses.

So, um, I guess we’ll be waiting until summer after all.

Comments»

1. wiserbud - January 21, 2010

A NEW CHART!!!! YES!!!!!!

waitaminute here…. this chart doesn’t start at zero……

no no no…something is just not right here at all……

2. geoff - January 21, 2010

Play nice.

3. Tushar - January 21, 2010

Laura, Dave, anyone else who has ace’s ear,

Dems are now saying that the larger healthcare turd is dead, and they will try to pass the more popular aspects of it piecemeal.

We should hammer them about doing something about their magical plan to save billions from medicare/medicaid by ‘eliminating waste, fraud and abuse’. They can start by slashing the budget allocation for medicare/medicaid by whateve amount they were planning to save, and go from there.

4. geoff - January 21, 2010

We should hammer them about doing something about their magical plan to save billions from medicare/medicaid by ‘eliminating waste, fraud and abuse’.

I agree, though I doubt any cost savings will result. I think a lot of the “waste” is based on Orszag’s nonsense, so we’ll save nothing. They also have to do something about the declining acceptance of Medicare patients – that’s going to cost more.

5. Tushar - January 21, 2010

http://powip.com/2010/01/the-elaborate-aoshq-pudding-hoax/

Money Quote: Ace of Spades. He puts the pud in pudding.

6. Pupster - January 21, 2010

Unexpected. Surprising. Puzzling. Bigger/Smaller than predicted.

Economists better be careful or their eyebrows will freeze in the up position.

7. geoff - January 21, 2010

I loved the one Ace did link: In Honor of Ace.

8. Tectonic Plates Shifting: Time to Short the Market? - January 21, 2010

[…] had a weekly spike, throwing cold water on the […]


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