Again, we're met with more UNEXPECTED news.
By CHRISTOPHER S. RUGABER AP Economics Writer
WASHINGTON December 11, 2008 (AP)
The Associated Press
New Unemployment Claims Surge Unexpectedly
New unemployment claims rise more than expected as layoffs continue amid recession
New claims for jobless benefits rose more than expected last week, exceeding even gloomy expectations for an economy stuck in a recession that seems to be deepening.
The Labor Department reported Thursday that initial applications for jobless benefits in the week ending Dec. 6 rose to a seasonally adjusted 573,000 from an upwardly revised figure of 515,000 in the previous week. That was far more than the 525,000 claims Wall Street economists expected.
How bout'
" Man unexpectedly loses his head while looking down the barrel of a rapidly firing cannon."
Or,
" Woman experiences unexpected financial setback after waving a handful of 100 dollar bills in the face of armed crack addict in dark inner-city alley at midnight".
New York Times
By LOUIS UCHITELLE, EDMUND L. ANDREWS and STEPHEN LABATON
Published: December 5, 2008
This article was reported by Louis Uchitelle, Edmund L. Andrews and Stephen Labaton and written by Mr. Uchitelle.
The Labor Department reported Thursday that initial applications for jobless benefits in the week ending Dec. 6 rose to a seasonally adjusted 573,000 from an upwardly revised figure of 515,000 in the previous week. That was far more than the 525,000 claims Wall Street economists expected.
More significantly, the unemployment rate does not include those too discouraged to look for work any longer or those working fewer hours than they would like. Add those people to the roster of the unemployed, and the rate hit a record 12.5 percent in November, up 1.5 percentage points since September. Gee, who would have expected any of that?
Would it be too boring to write or read:
"Actual unemployment figures reached the expected 12.5% in November and analysts expect the economy to worsen rapidly, expect it to be completely trashed by the time Obama takes office and hold the expectation that the economy (as we know it today) will be effectively "beyond salvage" by June 2009."
2 comments:
You're either a "player" or you're sitting on the sidelines.
Only if you're sitting on the sidelines can you afford to speak the truth... but who's gonna hear you?
To be a player you have to hew to whatever today's prevailing illusion is. Which means having a dumbed-down, blank-slate, gee whiz attitude towards everything.
"Gee whiz, man sleeping on railroad track gets unexpectedly run over by train, who ever woulda thunk it?"
Yeah Gordon, you're right. It requires a sort of "duh" level of thinking - or, just not thinking at all.
Lao Tzu - "Stop thinking and end your problems"
Double indemnity... I'm not only thinking... I'm thinking about thinking... Back to the monastery for a few more lifetimes I guess.
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