600,000+ people laid off 3 weeks in a row ?!?

[Hot Compost]

World Socialist Web Site had a good article about layoff statistics in the US.

US jobless benefit rolls hit record high

"The Labor Department reported that, for the second week in a row, more than 600,000 US workers filed new claims for unemployment benefits last week, bringing the total number of continuing claims—those drawn by workers collecting benefits for more than one week—to a record high of 4,810,000."

sounds extra-alarming, given that the 500,000 to 600,000 layoffs in December 2008 & January 2009 were alarming. it looks like the pace of lay-offs has increased.

so if you go to the Department of Labor, they have these statistics -

WEEK ENDING - Initial Claims (SA)

Feb. 7 623,000

Jan. 31 631,000

Jan. 24 591,000


i'm still not sure what 'SA' means.

ETA Press Release: Unemployment Insurance Weekly Claims Report


i could use some back-up. am i reading these numbers right ? about 600,000 people laid off each of the last 3 weeks ?

[Photoguy]

I checked the Bureau of Labor statistics website Employment Situation Summary and they say 700,000ish jobs were lost in January. These are non farm, your numbers might include farm, I don't know. The two sites both from the same government seem to say different things. I don't know how many seasonal workers(Christmas) are included in any numbers or not. There is no doubt that this problem is growing.

The rounder we go the faster we get
-Dennis

[Hot Compost]

there is a group called the North Bay Investor's Forum. they meet on the second Saturday of each month at the Finley Park community center. someone from the gym had invited me so i went. there were about 100-150 people there.

the speaker today was an economist who manages the Wealth Management division for Wells Fargo. i asked her about it during Q&A and she said it was updated each week, and that the numbers for January reflect January lay-offs. they revise the number each week.

i'm not sure what the numbers for February 7 mean.