Posted on 02/11/2010 5:36:16 AM PST by The Magical Mischief Tour
WASHINGTON (MarketWatch) - First-time claims for state unemployment benefits fell by the largest amount since July. The number of initial claims in the week ending Feb. 6 fell 43,000 to 440,000. This was a sharper drop than expected.
(Excerpt) Read more at marketwatch.com ...
It seems we're in for slow growth for a while. And that's neverminding the massive debt, and the gubmint policies that apparantly are putting off the recovery. We may yet have another steep drop. We may yet see more "crisis." And more gubmint intervention. All of which will cause this process to drag on even longer than it might have without such mistakes. But that's human nature, which I toss in with the cost of doing business. At some point it will all unwind. At some point new technologies will appear that will create jobs. At some point we'll get serious about energy independence. A new day WILL come. It may just take a while.
Expect more and more propaganda, and manufactured statistics leading up to the elections.
Only when a democrat is president is losing almost half a million jobs an unexpected good thing.
BINGO, the well is running dry. What I would like to know is how many small business’ closed last month.
How many jobs are no longer there to go back to?
Seems the only thing that can be “expected” in these reports is that the results will be unexpected by the ‘experts’.
I’m sure Michael Steele will get right on that!
The unemployment rate only measures people who are out of a job and actively seeking work, it doesn't include people who have given up looking for work or people employed part time. The drop in U3 that was reported was most likely due to people stopping the search for new jobs (just giving up) or getting part time jobs. To find a more accurate figure of what the employable base of the country is doing you need to use another rate, U6. U6 has started to trend downard this month by 1% which might indicate the overall situation is starting to slightly improve, but in a recent BLS report we get this little tidbet that indicates something else:
"The number of long-term unemployed (those jobless for 27 weeks and over) continued to trend up in January, reaching 6.3 million. Since the start of the recession in December 2007, the number of long-term unemployed has risen by 5.0 million." --The Bureau of Labor Statistics' latest Employment Situation Summary, released on Friday, February 5, 2010
This indicates that the number of GOOD (full time, good paying) jobs has shrunk by that amount and it continues to grow....trend up, more unemployed.
Actually, your unfed rate drops to 25% not 33%, so it is “better than expected”.
In the grand scheme of things, this is insignificant.
This is akin to a rounding error.
And there is no way unemployment went down to 9.7%, and the GDP went up 5.7% in the fourth quarter.
Let’s just call it what it is—they are cooking the books. The corrections will come in two or three months from now when no one cares about these numbers anymore. The Clinton administration had hined this type of quackery to a fine science.
Funny how a lot of the Zero administration are old Clinton hands.
Exactly! Of course this rate will slow as time goes on. It isn't a straight line relationship.
How will the numbers look as a result of the blizzard? There are probably lots of unemployment offices that closed due to the storms. Next week the new claims may double in some places.
That is the birth/death model of 842,000 that they tried to hide last week.(They covered the last year) Those were losses.
The birth/death model is of businesses, not people.
Moreover, none of these numbers count people like my landlord. A self employed professional electrician. He gets no unemployment compensation, nor is he “big” enough to be counted in the birth/death of businesses number. There are millions of people like him.
I am of the belief that the true unemployment rate is closer to 20% than anything else.
Yeh -- first-time claims might have fallen, but what about second-time and third-time and fourth-time filers. We now have a permanent class of unemployment claim filers.
On a side note. I find it odd that no one ever mentions the tens of thousands of self employed people that are out of work. I'm talking about all the small businessmen and women that are the backbone of American business. Those people that hire 2, 3, 4 or 5 people at most but that are now out of work themselves. Those people are not eligible for unemployment benefits even though they too are out of work. They are also NOT HIRING.
This country is sooooooo screwed and if something's not done to legally remove the illegal alien from the White House's Oval Office not only is the United States screwed but so too is the rest of the world.
Where are our military officers? Do any of you remember the "OATH" you took?
I, [name], do solemnly swear (or affirm) that I will support and defend the Constitution of the United States against all enemies, foreign and domestic; that I will bear true faith and allegiance to the same; that I take this obligation freely, without any mental reservation or purpose of evasion; and that I will well and faithfully discharge the duties of the office on which I am about to enter. So help me God.Shameful at best if not treasonous to do nothing.
JMHO
The idea that things are looking rosier because an arbitrary number was off by something less than one percent is really a bit preposterous.
LLS
should I bother to ask?
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