July 14, 2024

San Diego California housing
San Diego California housing

Do you really think the San Diego housing market has hit bottom? How can home purchases increase in the face of our high (over 12% in California) unemployment?

The Labor Department reported this morning that first-time jobless claims rose by 25,000 to 471,000 last week, up from a revised 446,000 the previous week. Economists had expected 440,000 claims, down from an originally reported 444,000 the previous week. The number of claims was higher than expected and curbed a four-week trend of losses. Economists surveyed by Briefing.com had expected new claims to fall to 439,000.

David Sloan, an economist at 4CAST in New York, said: “Given the reduced confidence people are having in the economic outlook, it just adds to those fears.”

Also, House, Senate leaders agreed on a bill to extend unemployment benefits. The bill would extend unemployment benefits for up to 99 weeks in many states, at a cost of $47 billion. Are such unprecedented unemployment benefits actually keeping people on the government dole?

San Diego Little Italy condominiums

4 thoughts on “Jobless claims rise – Unemployment Benefits Extended

  1. The whole atmosphere of: another foreclosure, unemployment hiking up, more defaults on mortgages, and so on and so on have plagued everyone to thinking that it’s going to happen to them. But everyone has to realize it won’t if you’ve been doing your part this entire time.

    Hoodia diet pills

  2. I live in Marshall County Tennessee and Marshall County has the state’s highest unemployment rate – 19.1 percent in February – for the past three months and includes over 2,330 currently unemployed residents.

    I drive up to an hour (50 miles) distance in every direction applying every where I can. I am regularly told there are no jobs available right now and if there are jobs available I am in competition with hundreds of others applying for the same position. Even worse for me is being told that they hire local people first before anyone outside of their towns.

    Many of the factories from my home town have moved over seas or to Mexico. Not a new story to anyone in America. Its frustrating and insulting hearing politicians and the super rich talk about how good it is for the economy to send all of our jobs over seas.

Comments are closed.