New Jobless Claims Breach The 400k Mark

I don’t recall ever seeing a weeklynew jobless number breaking the 400,000 mark before.

In the week ending March 29, the advance figure for seasonally adjusted initial claims was 407,000, an increase of 38,000 from the previous week’s revised figure of 369,000. The 4-week moving average was 374,500, an increase of 15,750 from the previous week’s revised average of 358,750.

I bet the Republikkkans are overjoyed to have chosen a presumptive nominee who admits he knows nothing about the economy.

5 thoughts on “New Jobless Claims Breach The 400k Mark

  1. As a spouse of a laid off auto worker, I know exactly why the unemployment took a major spike this past week.
    The laid off workers are part of a ‘sub-fund’ pay plan through their union contracts, when laid off.
    Part of their pay comes from the auto company they work for and part from Unemployment. It is set up that what ever a person doesn’t qualify for in unemployment benefits is then give to the employee up to 95% of their original pay.
    But eventually your unemployment runs out…then the autoworkers company (which they are laid off from) pays the full 95%…
    WELL, who thinks that the company where they are laid off from is also ‘paying into unemployment for them’ AFTER that point?
    And the unions and companies never told us that it was happening…
    Then suddenly two weeks ago when we submitted the usual weekly form for the next week’s pay THEY (the company) DENIED payment and said we had unemployment benefits that had ‘not been exhausted’.
    This happened to EVERY LAID OFF WORKER at the Kokomo, Indiana plants and this is probably the exact same thing that happened all over the country. That’s 1000’s of workers.
    I bet phone calls at these plants ‘spiked’ too…and at the union halls, as these 1000’s of workers flew to the unemployment offices and their union halls to get the correct paperwork done so they could get a check.
    BUT with unemployment you always have to wait one week before you get a check so AFTER ‘unemployment denies’ the first week you have to go to the employer and PROVE AGAIN that you have no unemployment benefits that week to be paid by the company who denied paying you in lieu of your proof that you can’t get it that week anyway.
    They still have a full two weeks of NO money coming in to get everything cleared up and running smoothly again.
    ALL THIS is causing a MAJOR spike in unemployment and 1000’s are watching the news say, ‘what a shocker the spike is’, while all us KNOW what it is…
    AUTOWORKERS laid off are trying to get their pay straightened out! Why would anyone have thought that unemployment was being paid into while you were unemployed?
    Hope this helps to clear up the ‘shock’ that all news channels seem to have in regards to the Unemployment SPIKE!

  2. Same data point as yesterday: I’m not even in their statistics, ‘cuz I’m not on ‘the dole’. And, I’m not alone.

  3. And, what do you need to know about the economy OTHER than the unemployment numbers, when your best plan is to reinstitute the Draft?

  4. “I don’t recall ever seeing a weekly new jobless number breaking the 400,000 mark before.”
    Happened with regularity during Bush’s first term.
    Last time it occurred was a little over two years ago.

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