Thursday, June 24, 2010

Job Market Less Awful? BP Scores!

By Reginald Kaigler (DEMCAD)

Initial unemployment claims dropped by 19,000 in the week that ended on June 19. What is means is that we experienced a smaller increase in people filing for unemployment for their first week. The increase is smaller, but it still exist. 457,000 initial jobless claims were filed last week. So the bottom line is that although the number fluctuates, it is still very high and no better than it was at the beginning of the year.

Read it for yourself.

The good news is that mass layoffs slowed in the month of May. According to the Labor Department, there were 1,412 mass layoffs resulting in 135,789 lost jobs. Yes, this is the good news.

Read about BP's cap.

One last thing, I gotta warn you that Israel just launched a spy satellite that is capable of monitoring Iran's nuclear program. This may not be a big deal, but it is worth looking at, because this could help Israel attack Iran's nuclear sites.

Read about Israel's satellite.


  1. I think Junes numbers are supposed to show less census hiring so there may be a negative jobs loss number overall this time. Hard to say though. I know that by Julys number though its going to show big negatives when all the census jobs are definitely gone and they can't inflate the numbers.