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Started By
Message
U.S. jobless claims leap to nearly two-year high of 261,000
Posted on 6/8/23 at 11:31 am
Posted on 6/8/23 at 11:31 am
quote:
The numbers: The number of people who applied for U.S. unemployment benefits in early June jumped to a nearly two-year high of 261,000, but most of the increase took place in just two states: Ohio and California.
New jobless claims in the seven days ended June 3 climbed by 28,000 from the prior week, the Labor Department said Thursday. The figures are seasonally adjusted.
Layoffs rose early in the year and pushed jobless claims above 200,000, but until this week, Jobless claims has barely changed since the spring and indicated that layoffs remained low.
quote:
Key details: Of the 53 U.S. states and territories that report jobless claims, 27 showed an increase last week. The other 26 posted a decline.
Most of the increase was in California and Ohio. Minnesota also saw a sizable increase.
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Posted on 6/8/23 at 11:33 am to RLDSC FAN
Didn't we just hear about record low unemployment at the beginning of this week?
This post was edited on 6/8/23 at 11:34 am
Posted on 6/8/23 at 11:33 am to RLDSC FAN
I promise they will also quietly adjust May and April upward too.
It's a bloodbath in my industry.
It's a bloodbath in my industry.
This post was edited on 6/8/23 at 11:34 am
Posted on 6/8/23 at 11:35 am to yaboidarrell
quote:
Didn't we just hear about record low unemployment at the beginning of this week?
We're just getting started.
Posted on 6/8/23 at 11:38 am to RLDSC FAN
I like how in order for us to pay less for stuff we need to lay off hundreds of thousands.
Dont blame the dems or the republicans. Blame the rich
Dont blame the dems or the republicans. Blame the rich
Posted on 6/8/23 at 11:42 am to RLDSC FAN
Those severances must be running dry 
Posted on 6/8/23 at 11:43 am to RLDSC FAN
quote:
California.
Those tech layoffs starting to file for unemployment benefits?
Posted on 6/8/23 at 11:46 am to wutangfinancial
Was thinking the waiting period to refile for unemployment, after the original benefits were exhausted, must have expired.
Posted on 6/8/23 at 11:46 am to RLDSC FAN
Biden can’t climb stairs much less have a solid approach to the economy.
Posted on 6/8/23 at 11:46 am to member12
quote:
member12
What is your industry?
Posted on 6/8/23 at 11:48 am to fareplay
quote:
fareplay
That's "rich" coming from someone who just said they are about to be paying $7,000+ monthly mortgage payments.
Posted on 6/8/23 at 11:49 am to RLDSC FAN
My company laid off about 4500 in April and May. If I make it another 2 weeks, I’d have probably survived for a while. It seems so random too - underperforming folks went first, then we went into solid performers who just happened to be a victim of circumstance (project canceled, delayed, etc.). And now they are going after some legit team members.
The people who get laid off are getting about 6-8 weeks severance. So the unemployment claims don’t hit immediately.
The people who get laid off are getting about 6-8 weeks severance. So the unemployment claims don’t hit immediately.
This post was edited on 6/8/23 at 11:58 am
Posted on 6/8/23 at 11:49 am to RLDSC FAN
My company is about to drop a pant load of folks June 30.
Lost $20 million in Q1 and will lose at least that much in Q2. I fully expect I will be one of those cut. Even if I survive, I’m getting the hell out ASAP.
Lost $20 million in Q1 and will lose at least that much in Q2. I fully expect I will be one of those cut. Even if I survive, I’m getting the hell out ASAP.
This post was edited on 6/8/23 at 11:50 am
Posted on 6/8/23 at 11:50 am to TaderSalad
quote:
Biden can’t climb stairs much less have a solid approach to the economy.
Nary a mean tweet to be found though
Posted on 6/8/23 at 11:56 am to RLDSC FAN
This is so baffling. With how well run Minnesota and California are I am surprised they contributed to the increase.
I'm starting to really worry now.
I'm starting to really worry now.
Posted on 6/8/23 at 12:02 pm to Duke
quote:
Those tech layoffs starting to file for unemployment benefits?
Most of them got months of pay for severance.
Posted on 6/8/23 at 12:02 pm to RLDSC FAN
They are all at costco when it opens too
Posted on 6/8/23 at 12:03 pm to Floyd Dawg
quote:
Lost $20 million in Q1 and will lose at least that much in Q2.
And the execs who made the decisions that led to $20 Million losses will still be there and probably get bonuses for laying everyone off.
Posted on 6/8/23 at 12:06 pm to RLDSC FAN
the actual numbers must be really bad if this administration is allowing this to be reported.
Posted on 6/8/23 at 12:12 pm to sidewalkside
quote:
That's "rich" coming from someone who just said they are about to be paying $7,000+ monthly mortgage payments.
I will say that the higher up I’ve gotten in a corporation, the more I’ve come to detest Wall Street. I truly believe Wall Street forces companies to sacrifice long term benefits for short term gains.
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