Posted by WARREN MOSLER on January 8th, 2009
It’s all coming apart.
Need that full payroll tax holiday now!
(Treasury makes all contributions for employees and employers to keep the accounting in order)
> On Thu, Jan 8, 2009 at 2:27 PM, Morris wrote:
> It seems the problems with unemployment
> claims system overload this week is even more
> severe than we thought. To recap, NY state’s
> internet and phone systems went down on
> Monday due to unusually high applicant
> volumes. Ohio and North Carolina had volume-
> related problems that caused their internet
> system to go down, Kentucky’s system
> crashed, Massachusetts reported problems
> getting through for thousands of callers and
> internet filers and New Mexico, Pennsylvania,
> Oklahoma and Washington all added additional
> operators to deal with the spike in call volumes.
> To recap, all of these problems happened this
> week, so they will affect next Thursday’s
> report, not this morning’s. They suggest an
> unusual spike in layoffs which suggests the
> difficulty seasonally adjusting data around the
> year-end holidays may have caused the claims
> data of the past two weeks to be understated.
> Based on a quick web search, we could not
> find any evidence of similar problems in the
> Thanks to all of you who sent links.