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Surprise! Jobless Claims Up 78,000 Week After Election; PA, OH Worst Hit

The Department of Labor has announced that new jobless claims rose by a staggering 78,000 in the first week after the election, reaching a seasonally-adjusted total of 439,000. Over the past year, and in the weeks leading up to the election, jobless claims were said to be declining, dipping as low as 339,000, with the media proclaiming that they had reached the "lowest level in more than four years." Now, suddenly, the news seems far less rosy.

From the Department of Labor press release this morning:

In the week ending November 10, the advance figure for seasonally adjusted initial claims was 439,000, an increase of 78,000 from the previous week's revised figure of 361,000. The 4-week moving average was 383,750, an increase of 11,750 from the previous week's revised average of 372,000.

Read more: http://www.breitbart.com/Big-Government/2012/11/15/Surprise-...




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Strange how gold went down

Strange how gold went a bit down despite this bad economic news and the Israel/Palestina conflict.

Cyril's picture

When gold goes down,

When gold goes down, always look at :

1. oil

- and/or -

2. uncle Ben's printing press pace of functioning.

Alternatively, it's also often useful to look at it the other way round.

Peace.

P.S.

Relevant, too :

http://www.dailypaul.com/262493/how-would-anyone-make-money-...

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

Yes, check you rear view mirror.

Set your watch & calendar to Rubin "Strong Dollar" time. The big events are scheduled well in advance. Good or bad news has entertainment value. It makes the sale. Yet, our banks have a schedule to keep.

    "Pip, pip. We mustn't dawdle." - Mary Poppins

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

On the day of Unemployment number release, Gold goes down.

[9 AM, Manhattan Coffee house private room. Rotund man speaks to a group of NY Bank Silver trading desk employees. Door slightly ajar.]

Printer-That-Be: Silver too. I don't want you to even see a newspaper, let along read one. Tripe! I print the money. May as well say I print the news... But you dare not.

Silver Trader: Sir... Boss, the numbers were really bad.

Printer-That-Be: [Roll eyes] Listen my young lad.

Silver Trader: The news was awful.

Printer-That-Be: [Furrow brow] What is it going to take? I script the narrative. Talking points. The news concocts their story. They sell it. How bad is it? Their writing is pitiful.

On Unemployment number days, I want gold & silver down. On important Fed meeting days, I want gold & silver down. On expiry, I want gold & silver down... Mid month for GLD & SLV... Last week of month, COMEX ®. Have you not heard of the Rubin "Strong Dollar?"

Are there any questions?

Silver Traders: [In unison] No sir!

[Rotund man fastens his briefcase. Makes hasty exit scurrying toward Liberty Street.]

[Traders guzzle last of their coffee.]

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

If there is a severe market drop

I would expect precious metals to drop as well,just not as much as stocks.When there is fear in the market and the general economy the average joe will hoard cash,not metals.While the obvious long term trend is inflation and weakening of the dollar,I would expect a short term strengthening of the dollar in a down market judging by recent history.If you want to make money in a falling market,the best bet seems to be shorting stocks or buying a short etf such as ticker symbol TZA.The fed has propped up the market with qe and qe infinity,but a severe market drop could happen at any time.It happened last year. Some people who are bearish on the market will be shorting stocks as well as holding some precious metals.Others who are bearish will be shorting stocks and holding mostly cash.Just my opinion.

Cyril's picture

Oh yes, surprise, surprise...

Oh yes, surprise, surprise...

Btw :

http://en.wikipedia.org/wiki/List_of_countries_by_unemployme...

Oh, and :

http://www.guardian.co.uk/world/2012/nov/16/economist-front-...

The French "elite" ... such a joke.

And an elite about ... what, exactly ?

Rent-seekers. Spreadsheets ADDICTS :

http://www.economist.com/node/4198541

and parasitic crooks.

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

Not suprised

We know better!

Make your avocation your vocation. - Mark Twain

DreamJobs: the best job in the world, probably. Portuguese w/ English subtitles. 1 minute job promotional film.

Not my cup of tea, but it's a job.

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

Hire Anny Chih for the Best Job in the World

Hire Anny Chih for the Best Job in the World 1 minute self promoting "Job Wanted" ad.

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

I own a business. What

I own a business. What business owners and executives are doing right now is preparing for what is to come with Obamacare. Many companies with over 50 employees but less than 100 are contemplating what to do...they're crunching the numbers, and the numbers don't look good so they're going to start handing out a lot of pink slips -and that's what we are starting to see.

Many businesses are planning on making many of their full-time employees part-time employees, just to get around the healthcare mandate.

But here's the big thing nobody is talking about...even after many employees are let go, they will still be required to purchase health insurance. They will not be able to get on Medicaid, because according to their most recent tax records...they make too much money to qualify.

Obamacare is going to serioulsy screw the American economy, and we ain't seen nothin' yet.

Never be afraid to ask simple questions.

Add one more to the unemployed - ME!

I lost my job because of government interference in the free markets.

I worked for American Airlines. We were the only major carrier who did not use bankruptcy 9 years ago to stiff our creditors, lessors, vendors and shareholders.

But everyone else did - United, Continental, Delta, Northwest, U.S. Air (twice), America West.

The U.S. government allowed them to continue to operate and even set fares and prices in the same markets we serviced - minus all their debts (and even pension obligations which they threw on the backs of the taxpayer's too).

THEN - to top it off, the D.O.J. allowed all the bankrupt carriers to MERGE (United with Continental, Delta with Northwest, U.S. Air with America West).

This was the final nail in our coffin.

We finally capitulated 9 years later (last November) because the playing field was so un-level and declared bankruptcy too.

This week I lost my job of 27 years DIRECTLY because of immoral bankruptsy laws (backed by our government) which allows insolvent businesses to compete with those trying to do the right thing.

It's just like Donald Trump. He toots his horn about what a great businessman he is, but he too has used bankruptcy over and over to his benefit - while screwing his competition who otherwise might have survived.

U.S. bankruptcy laws are the very ESSENCE of IMMORALITY.

"We have allowed our nation to be over-taxed, over-regulated, and overrun by bureaucrats. The founders would be ashamed of us for what we are putting up with."
-Ron Paul

I feel for you

The laws are immoral. The whole mess is the result of laws that show favoritism, bias, and disregard for justice.

"Hence, naturally enough, my symbol for Hell is something like the bureaucracy of a police state or the office of a thoroughly nasty business concern." ~~C.S. Lewis
Love won! Deliverance from Tyranny is on the way! Col. 2:13-15

Bankruptcy, how the rich stay rich.

Employees need to get business smart and get priority on any contract negotiations over the senior secured bondholders, without priority your contract is an illusion.

Senior secured bondholders get paid first, unless otherwise negotiated.

"We’re hiring!" - Southwest Airlines, December 2012

Application Fees? No Way! Southwest Airlines never charges for applying with us. View all job postings

Over the past three years, Southwest Airlines has been ranked as one of the top 20 best places to work on GlassDoor.com. In 2010, Southwest took the number one spot!

In 2011, Southwest Airlines was ranked number four by Forbes as one of the world’s most admired companies.

Southwest Airlines was recognized by J.D. Power and Associates as one of the 2012 Customer Service Champions—one of only 50 companies earned the distinction this year.
=====================================================================

Best wishes on your search.

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

Jobless figure will now be

Jobless figures will now be another 18000 higher once Hostess closes.

To climb the mountain, you must believe you can.

ummmm...how many COULDN'T file....

...because they were in devastated Hurricane Sandy areas that week as well, where the numbers were down?

C'mon...let's think a little...

Think?

Are you kidding me? Romney will win in a landslide- us - think? Thinking is for liberals.

Who exactly in those two states voted for this clown

Trying to figure that out.

"Once you become knowledgeable, you have an obligation to do something about it."- Ron Paul

the other clown would have

the other clown would have been just as bad...

Getting your money after you file a mining claim is hard digging

When some fool files an unemployment claim, they allow your government to do the digging for them... out of your pocket.

Your money was yours, once upon a time.

If you want to see who is making money, by taking yours, look here: ♔ "Money Trail" ♔ International Bank Cartel ♖ Monopoly Boyz Submitted by Mark Twain on Fri, 11/16/2012

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

You hit pay dirt there MT.

You hit pay dirt there MT. It's easy to make a claim, infinitely harder to make it worth your while. I signed up for unemployment once about 30 years ago and never went back and never collected a check. It wasn't worth the time, maybe that's why I love rockhounding!

"It is difficult to free fools from the chains they revere".
--Voltaire

It's hard not to be a menace to society when half the population is happy on their knees. - unknown

Don't worry, those 78,000

Don't worry, those 78,000 were with the bourgeois and maybe even a few kulaks. For the good of the collective, moving forward.

Southern Agrarian

yeah, and add about 18,000

yeah, and add about 18,000 workers from Hostess to this number :/

It's not Obama's fault. Look

It's not Obama's fault. Look at the new mess he inherited.

you didn't make that mess yourself...

no... somewhere along the way you had help....

lol

Maybe he can blame George Washington for starting this whole president thingy.lol

Yes I first heard of this

Yes I first heard of this from a liberal website which blamed hurricane Sandy for claims.

You haven't seen nuthin yet

After the first of the year when the reality of obummerCare sets in, businesses far and wide will be reducing people's hours to less than 30 hours per week to avoid the cost of obummerCare.

Pretty soon most Americans will be working two or three part time jobs and signing up for obummerCare.

Things are going to get worse before they get worse.

We could have had Ron Paul.

Pity.

yup, and the "greedy"

yup, and the "greedy" employers along with capitalism will be blamed for the low employment, thus leading to more regulations and govt influence. pity, indeed.

Obama Will

just blame it on Bush.

skippy