Jobless Numbers Surge By 78,000 Week After Election – Highest Number in Over a Year (Video)

The jobless numbers surged by 78,000 the week after the US elections.
It was the highest weekly number in over a year.

Stu Varney says you can’t explain this huge number entirely on Hurricane Sandy.

Bloomberg reported:

More Americans than forecast submitted claims for unemployment insurance last week as superstorm Sandy also wreaked havoc on the job market.

Applications for jobless benefits surged by 78,000 to 439,000 in the week ended Nov. 10, the most since April 2011, the Labor Department said today in Washington. Several states said the increase was due to the storm that hit the Northeastern part of the U.S. in late October, a Labor Department spokesman said as the data were released to the press.

The extent of the damage means it may take weeks for the underlying trend in firings to again become clear. Before the storm, the labor market was gaining momentum even as year-end domestic fiscal policy uncertainties raised concern among businesses.

“Based on previous extreme-weather episodes, we typically see the associative claims coming in over several weeks,” Jim O’Sullivan, chief U.S. economist for High Frequency Economics Ltd. in Valhalla, New York, said before the report. “It’s not a booming labor market, but it is a recovering labor market. Certainly prior to the storm, there was no sign that there was any deterioration.”

Sandy struck the Northeast region, including New York and New Jersey, as it came ashore Oct. 29, and those who lost their jobs because the storm shuttered businesses may keep filing claims in coming weeks.

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  • J

    From now until I die, I will always think when I see things like this, that THIS is what the majority of my country voted for.

  • Stella Baskomb

    I blame George Bush.

  • JoyO

    I thought they would use some common sense and depict the numbers as a “gradual” increase in unemployment. But, maybe this is their idea of gradual…they could be holding much worse numbers to spring on us later.

  • Bitter Clinger

    But, but, but HE was The One we’ve been waiting for!

  • Is it a true surge or are they now scoring jobless claims they deliberately delayed to assure decreasing numbers in the last two reports? Considering the other deliberately delayed reports, it would not be surprising.

  • donh

    What a BAIT and SWITCH con job hiding all the problems so Obama wins ….NOBODY wants to save America and is dumping this Trash Bag of a country off on a ” Head N### in charge ”

    “What we see and interpret as power is an illusion…Blacks are now elevated to “Head N### in Charge” only when a situation has become so hopeless officials don’t want to risk putting one of their own in charge. It is often a token put there to rescue a situation grown hopeless. Don’t be deceived by those moves and think they come about by rightness and righteousness. They are motivated by institutional racism… What we see and interpret as power is an illusion…” Dr. Marcus A. Foster, First Black OaklandUnified School DistrictSuperintendent, 8 Months before Being Assassinated on November 6, 1973[1]

  • bear

    This number is merely the “correction” and “revision” needed to reconcile the past month’s falsely reported numbers with something closer to reality.

    Please correct me if I’m wrong, but this didn’t happen after other storms or disasters. You know, the ones that were “Bush’s fault.” We should, instead, expect the usual surge in construction and manufacturing as damaged areas are rebuilt.

    I can understand temporary layoffs, but Bloomberg used the word “firings.” This is not a gaffe, but a chosen characterization of the situation, and connotes permanence.

    This “report” is just more obama cotton candy, to cover the real numbers and deflect the blame from his failures onto the storm. As usual when ANY economic indicator improves, or is spun to appear as though it has improved, michelle’s boy toy claims credit. And when there is no improvement, “it’s not my fault!” cries the child in the oval office.

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  • P. Aaron

    Like ‘lost’ or misplaced ballots that turn up after the fact.

  • Multitude

    When you’ve been cooking the books, from time to time, you have to try to get them closer back to reality when you’ve been hiding bad data for a long time.

    But hey, financial reporting crimes aren’t illegal in the government. In fact, they’re politically popular. If nobody’s gonna do anything about it, why stop?

  • myohmy

    Did BOL suppressed the number? Why I am not surprise.

  • saveus

    way to go Obama
    more people dependent on the Gov’t

    down with the evil capitalists who create real jobs

  • Brandon In Baton Rouge

    The numbers may be legitimate for once.

    Why? Because many businesses have been telling people “If Obama is re-elected, I’m laying a bunch of people off.”

    Looks like they weren’t bluffing.

  • Adirondack Patriot

    The White House has announced that it suspects these job losses are the result of an anti-Islam video.

  • All_IS_LOST

    I sure am glad that this surge in numbers caused by Sandy waited until after the election to show themselves.

    Yeah that’s the ticket.

    The American people got what they wanted. Let them eat cake.

  • Fuquay Steve

    Well smack my butt and call me charlie – you must be kidding? How can truth overcome this mountain of crap and it keeps getting higher as every report is delivered.

  • kato

    This time around it’s Sandy, legitimately. But that won’t be the case next year, when the unemployment rate is back over eight percent.

  • kelly

    Keep wasting your time and energy whining instead of pulling together for the good of all. Must be the country first crowd.

  • Jeff Sumners

    Only the truly stupid could be surprised by this news.

  • Warthog

    There seems to be a case of mistaken identity here. You see, the people who voted for Obama voted for their free phones, and Obamacare, and free birth control and welfare extended to illegals, etc. The good of the country demanded they vote a little self control but those people voted for themselves first. See?

    It’s about time you stopped wasting your time and energy whining about how if we just BELIEVED in Obama, things would work out.

    Clue time here, kelly, socialism NEVER works, worked, shall work, will work, will have been working, nor any other conjugation ofthe verb work.

    As for my attitude, and I think I speak for most of us here when I say, LET IT BURN!

  • Any job increase prior to Sandy, was the hiring of holiday help, a large majority temporary. Sandy may be a slight percentage increase, but the fact is the Empty Suit is still a failure in the Jobs market. Please don’t come at me with the Greeen stupid factor, that belongs to the beanie wearers of a small propeller turbine hat.

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  • joker

    how is the jobs lost in CA, TX, MO and WA blamed on Sandy.