Unemployment insurance initial claims up 4000, January 10, 2013, 4 week moving average increased 6750, 18 states increase more than 1000, American Express cutting 5400 jobs

Unemployment insurance initial claims up 4000, January 10, 2013, 4 week moving average increased 6750, 18 states increase more than 1000, American Express cutting 5400 jobs

“With a 63.7% labor force participation, “conditions in the labor market are considerably worse than indicated” in July’s report”…economist Joshua Shapiro, WSJ August 3, 2012

“We tried our plan—and it worked. That’s the difference. That’s the choice in this election. That’s why I’m running for a second term.”…Barack Obama

“the Times of the nineteenth of December had published the official forecasts of the output of various classes of consumption goods in the fourth quarter of 1983, which was also the sixth quarter of the Ninth Three-Year Plan. Today’s issue contained a statement of the actual output, from which it appeared that the forecasts were in every instance grossly wrong. Winston’s job was to rectify the original figures by making them agree with the later ones.”…George Orwell, “1984″

 

From the US Labor Department January 10, 2013.

“UNEMPLOYMENT INSURANCE WEEKLY CLAIMS REPORT”

“In the week ending January 5, the advance figure for seasonally adjusted initial claims was 371,000, an increase of 4,000 from the previous week’s revised figure of 367,000. The 4-week moving average was 365,750, an increase of 6,750 from the previous week’s revised average of 359,000.”

STATES WITH AN INCREASE OF MORE THAN 1,000


State Change State Supplied Comment
MI +15,107 Layoffs in the manufacturing industry.
PA +12,483 Layoffs in the transportation, construction, food and beverage manufacturing, and metals industries.
WI +6,748 No comment.
NJ +3,436 Layoffs in the educational service industry.
MO +3,057 Layoffs in the transportation and warehousing, and manufacturing industries.
IA +2,804 Increase is a result of processing claims from prior week when offices were closed due to the holiday.
NC +2,300 Layoffs in the machinery, lumber and wood products, transportation and warehousing, automotive repair, service and parking, rubber and plastic products, petroleum, and textile industries.
OR +2,185 Increase is a result of processing claims from prior week when offices were closed due to the holiday.
MD +2,182 No comment.
CA +2,012 Increase is a result of processing claims from prior week when offices were closed due to the holiday.
AL +1,913 Layoffs in the administrative and support service, healthcare and social assistance, construction, and textile industries.
TN +1,589 Layoffs in the administrative and support service, electronics, and construction industries.
KS +1,387 No comment.
CT +1,276 No comment.
OH +1,240 No comment.
ID +1,219 No comment.
VT +1,103 Layoffs in the manufacturing industry.
MA +1,051 Layoffs in the transportation and warehousing industry.

http://www.dol.gov/opa/media/press/eta/ui/current.htm#.UO9P4m_7LhI

From CNN Money January 10, 2013.

“American Express to cut 5,400 jobs”

“American Express announced Thursday that it was cutting 5,400 jobs, becoming the latest large financial firm to reduce its headcount.
The company said the largest reductions would come from its travel businesses, which “operate in an industry that is being fundamentally reinvented as a result of the digital revolution.”

“One outcome of this ongoing shift to online is that we can serve a growing customer base with lower staffing levels,” AmEx CEO Kenneth Chenault said in a call with analysts. “Staying ahead of these trends has led us to redesign the model within global business travel and to continue the evolution within cardmember servicing and collections.”

While the cuts will be partially offset by the addition of new positions, American Express said it expects to see its current work force of 63,500 reduced by between 4% and 6% by the end of the year.

“Against the backdrop of an uneven economic recovery, these restructuring initiatives are designed to make American Express more nimble, more efficient and more effective in using our resources to drive growth,” Chenault said in a statement.

The company said the cuts “will be spread proportionally between the U.S. and international markets and will primarily involve positions that do not directly generate revenue.”

Shares fell about 0.7% in after-hours trading.

The news came as American Express (AXP, Fortune 500) pre-announced of its fourth-quarter results. Excluding severance costs associated with the job cuts and other special expenses, net income came in at $1.2 billion, or $1.09 a share, exceeding the prediction of $1.06 a share from analysts surveyed by Thomson Reuters. Sales were $8.1 billion, in line with expectations.

Elsewhere in the industry, Morgan Stanley (AACXX) plans to eliminate 1,600 jobs in the coming weeks, a source told CNNMoney this week. Last month, Citigroup (C, Fortune 500) announced plans to cut 11,000 jobs.”

http://money.cnn.com/2013/01/10/investing/american-express-jobs/

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14 responses to “Unemployment insurance initial claims up 4000, January 10, 2013, 4 week moving average increased 6750, 18 states increase more than 1000, American Express cutting 5400 jobs

  1. If the military cuts take place as scheduled, think of all of the jobs that will be lost – not only in the defense industry itself, but all of the support businesses surrounding military bases. Obama will only have more spending to take its place, such as green energy snafus, crony capitalism payoffs and other waste of our money and resources.

    I get livid every time I read CW’s quote:

    “We tried our plan—and it worked. That’s the difference. That’s the choice in this election. That’s why I’m running for a second term.”…Barack Obama

  2. Mr. Bill(ms. helga)

    A little OT BUT INSPIRATIONAL I call it Four minutes of Glory. I hope the younger will appreciate it as I know the older will. It is the story of R.G Mitchell, the designer of the Spitfire who died before it was approved by the air ministry of cancer. These are scenes from “The First of the Few” based on Churchill’s “Never in the history of human conflict was so mush owed by so many to so few” speech. Also pilot offocer Gillespie McGhee,Jr killed flying a Spitfire wrote the inspirational poem High Flight. “Oh I have slipped the surly bonds of earth, put out my hand and touched The Face of God.
    The music and narration is awesome.

  3. Our children used to have big dreams………….now?

  4. cabbyaz | January 10, 2013 at 6:34 pm |
    None of the above would absolve him of fraud, deception, and a host of other vices,
    ==============================
    Cabby,

    I agree. Regardless of where Obama was born, the COLBs, the long form Certificate of Birth, the Selective Service registration and the Social Security number can all be proven to be fakes. It is obvious that Obama committed fraud in his attempts to deceive the public.

    Many of us would like to see Obama be ousted because of the eligibility issue but I fear that it ain’t gonna happen. A sitting president who has served a full term of office will not likely be declared ineligible. But remember it wasn’t the Lewinsky sex act that led to Clinton’s impeachment by Congress, it was perjury and obstruction of justice. It wasn’t the Watergate burglary that brought down Nixon, it was the cover-up. No matter where Obama was born or who his father is, it’s his complicity in the crimes of forgery and fraud that could possibly be his Waterloo.

    We can only hope and pray that members of Congress will have the courage to follow through with their responsibilities to uphold the Constitution and rid us of this fraud. They need to investigate his other impeachable crimes too.

    50 Impeachable Crimes and Counting

    http://canadafreepress.com/index.php/article/26650

    And then there’s also Benghazi.

  5. Jonah | January 10, 2013 at 11:01 pm —

    “We can only hope and pray that members of Congress will have the courage to follow through with their responsibilities to uphold the Constitution and rid us of this fraud.”
    ==========
    October 12, 2011

    “Rep. Posey Spokesman: Media Ridicule Stopping Us From Addressing Obama’s Identity Fraud”

    “Audio Revealed: Albert E. Hendershot; Well my friends, today I had many questions answered by Mr. George Cecala, the Press Secretary to Florida Congressman Bill Posey’s Office. Basically he informed me that there will be no intervention by the U.S. Congress concerning the issues that surround Barack H. Obama. Mr. Cecala pretty much stated that they fear ridicule from the media if they bring up the issues pertaining to Obama’s multiple crimes including, but not limited to, Obama’s social security number fraud.

    As you will hear in the almost 25-minute conversation that took place on October 13th, 2011 they are very concerned with the many questions surrounding Obama’s background but are neutered by the media. They, the U.S. Congress are trying to pass the buck to the American people in this never-ending vetting process that they, the media and the U.S. Congress should have completed themselves three years ago. Now look at what we are having to deal with. Now you will know why nothing has ever been done, nor will there ever be anything done concerning the “anointed one” and his well of lies on the American people.”

    http://obamareleaseyourrecords.blogspot.com/2011/10/rep-posey-spokesman-media-ridicule.html

  6. GORDO
    Your Posey link goes back to Oct 2011, before the Cold Case Posse. Let’s hope that Mike Zullo’s investigations will soon reveal the truth that Obama is a fraud.

    http://www.wnd.com/files/2012/06/zulloaffidavit.pdf

  7. “Sheriff Arpaio’s Commander Mike Zullo Blames John Boehner For Congressional Inaction On Obama!”

    Published on September 9, 2012

    TeaPartyPowerHour

  8. Gordo…………
    What words would you use to descibe people who FEAR WHAT SOMEBODY has to say. That tells a very sad story. It says that the alleged MEDIA are PLAYGROUND BULLIES., and obviously both Congress, and the Senate are afraid of the PLAYGROUND bully.

  9. Good morning Zach, et al.

  10. Mr. Bill(ms. helga)

    Goodmorning friends – I hate to say it but I think we are totally doomed. This one statement says it all – “All congressmen are crooks except mine because he brings home the bacon!!” And that is what has been going on for years until it has finally caught up with us . There is no doubt that the CIA and MSM are up to their eyeballs in all of this. But it is too late now and just as on the Titantic the supposedly watertight compartments didn’t hold up. The 1000 or more billionaires might be able to keep things going for awhile but nothing can sustain the amount of spending by world governments at this time.
    There was conjecture that the Titantic should have hit the iceberg straight on instead of trying to bypass it, Bypassing it caused the jagged iceberg to slice along the starboard side opening it like a can of sardines.
    One thing is for sure, I won’t abandon CW or all those who contribute here.
    GODSPEED

  11. Gordo,
    You’re right. Congress has ignored the Cold Case Posse’s investigation. Even if the Orly Taitz case is heard in conference before the full Supreme Court, it is my understanding that SCOTUS doesn’t have the power to oust Obama. They can only refer Orly to petition Congress because only Congress has the authority to impeach a president. And even if the House votes to impeach Obama the Senate would have to approve by 2/3. That’s not likely to happen. Only God can save us now.

  12. Mr. Bill(ms. helga) | January 11, 2013 at 9:10 am |
    One thing is for sure, I won’t abandon CW or all those who contribute here.
    ============================
    I’m right there with you, friend.

  13. Air Force Brat!

    Oldsailor @2:05 a.m. — I know what I’d call them; however, it’s not printable here. The words “weaklings” and “cowards”, however, ARE printable.

    Mr. Bill @9:10 a.m. — take heart and keep your spirits up as best you can. Remember that we are only doomed if we roll over like whipped dogs.

    Many things can be accomplished by means other than violence. Not a single shooting, knifing or riot on Chick-Fil-A Appreciation Day, was there? Nor during the 9/12 gathering on the Mall in 2010. Anything can be accomplished by the proper combination of ideas, determination, planning, persistence — and yes, willingness to defend oneself physically IF ONE IS ATTACKED FIRST.

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