Aug. 19 (Bloomberg) — Applications for unemployment benefits in the U.S. unexpectedly increased last week to the highest level since November, showing companies are stepping up the pace of firings as the economy slows.
Initial jobless claims rose by 12,000 to 500,000 in the week ended Aug. 14, Labor Department figures showed today in Washington.
Claims exceeded all estimates of economists surveyed by Bloomberg News and compared with the median forecast of 478,000. The number of people receiving unemployment insurance fell, while those getting extended benefits increased
The continuing claims figure does not include those receiving extended benefits under federal programs. The number of Americans who’ve used up traditional benefits and are now collecting emergency and extended payments rose by 309,334 million to 5.59 million in the week ended July 31. That was the week after legislation resuming eligibility went into effect.
Dr. Pinna says:
It is quite obvious that there are no jobs to be found.
The “jobs” were sent with the “factories” thirty years ago to China. Everything is made in China. The U.S. produces fruit in California. Where is the factory that cans that fruit? In China!
Americans must get used to unemployment as a way of life.
For centuries the people of Asia and South America had unemployment rates as high as fifty percent. We will see the same high rates in the USA. Get used to it!
Only corrupt Government employees will have jobs. The rest of the American workers will lose all their excess fat and learn how to play chess.