You would think that such a large number couldn’t go under the media radar, but somehow it has. Initial job claims for July 10, 2010 came in at 429,000, an improvement over 2009 figures and less than projected; however.this is an adjusted figure, the unadjusted figure was highe. Plus, the following week of July 17, 2010 , this figure went up again to 464,000 , both weeks seen as an indicator of an economy plagued by a poor housing market and companies stockpiling cash rather than expanding their businesses and hiring new employees–a lack of confidence and fear of an economic stall.
But As For Me…
A stimulus to the economy is needed, but Congress has no stomach for another stimulus program because of the track record of the last one, and it is doubtful that the Democrats will renew all of the tax cuts of the Bush Administration.
Tagged as:
400000+new unemployment claims,
Bush Tax Cuts,
ButAsForMe,
consumer confidence,
Economy,
Hiring,
housing market,
July 2010 Unemployment Rates,
lagging unemplopyment,
Reformed Liberal,
tax cuts
News from the web:
400,000+ File For Unemployment In One Week
by admin on July 24, 2010 · 0 comments
in Commentary, Economy, Housing, Obama, Recovery, Reformed Liberal, unemployment, Wall Street
You would think that such a large number couldn’t go under the media radar, but somehow it has. Initial job claims for July 10, 2010 came in at 429,000, an improvement over 2009 figures and less than projected; however.this is an adjusted figure, the unadjusted figure was highe. Plus, the following week of July 17, 2010 , this figure went up again to 464,000 , both weeks seen as an indicator of an economy plagued by a poor housing market and companies stockpiling cash rather than expanding their businesses and hiring new employees–a lack of confidence and fear of an economic stall.
But As For Me…
A stimulus to the economy is needed, but Congress has no stomach for another stimulus program because of the track record of the last one, and it is doubtful that the Democrats will renew all of the tax cuts of the Bush Administration.
Tagged as: 400000+new unemployment claims, Bush Tax Cuts, ButAsForMe, consumer confidence, Economy, Hiring, housing market, July 2010 Unemployment Rates, lagging unemplopyment, Reformed Liberal, tax cuts