Skip to comments.US Jobless Claims Slip By 2K In Week (seasonally adjusted 370,000 in the week ended May 19)
Posted on 05/24/2012 6:23:47 AM PDT by SeekAndFind
WASHINGTON -- The number of U.S. workers filing first-time applications for unemployment benefits ticked down last week, suggesting the labor market is slowly mending.
Initial jobless claims fell by 2,000 to a seasonally adjusted 370,000 in the week ended May 19, the Labor Department said Thursday. It was the first time in three weeks that claims fell.
The prior week's figure had been revised slightly higher from initial estimates.
Economists surveyed by Dow Jones Newswsires had forecast that 370,000 new claims would be filed last week.
The report suggests that employers are laying off slightly fewer workers than in prior weeks. The four-week moving average of jobless claims, considered a more-reliable figure of trends because it smoothes out weekly gyrations, fell by 5,500 to 370,000--the lowest level since early April.
A decline in claims usually coincides with new hiring, with claims below 400,000 typically indicating job creation.
Job growth has slowed over the past two months, as the economy continues to suffer from a sluggish housing market. The unemployment rate has fallen quickly since last summer but still remains at an elevated 8.1%. The recent slowing off layoffs could indicate continued, but small gains, in employment this month. The government is set to release employment numbers for May next week.
The Federal Reserve, charged with maintaining price stability and achieving maximum employment, forecasts that unemployment will only edge down to between 7.8% and 8.0% by the end of this year.
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“suggesting the labor market is slowly mending.”
ie, for those of you stupid enough to believe this, the economy is really getting much better and you can still vote for Obama.
The numbers are sloppy enough that they’ll oscillate a bit from week to week - if you look at a graphical representation (see the link below), you’ll see that within that noise, initial jobless claims have been pretty much holding steady since the beginning of the year.
Anybody looking for improvement in the employment situation in that data is just blowing smoke.
Anyone who still believes these government figures is a moron. It’s election season. This crap is worthless.
My exact thought. That number changes so often and you have it pegged correctly. Just a few weeks ago it was 325,000.
This is propaganda on a scale unseen in this country and most likely will become more exaggerated as we move towards November. There is absolutely no integrity left in this administration and the department heads appointed by it.
We need to clean house in DC. Drain the cesspool.
Labor market getting better?? Reality Check. Look at participation level in the job market.
100 Million Americans Without Jobs http://www.businessinsider.com/100-million-americans-without-jobs-2012-5
Labor Participation Graph http://static6.businessinsider.com/image/4fbce4edeab8ea9609000007-590-354/image.png
That number is a Record!
Exactly ... even Jimmy Carter is wincing.
“The four-week moving average of jobless claims, considered a more-reliable figure of trends because it smoothes out weekly gyrations, fell by 5,500 to 370,000—the lowest level since early April.”
5-19-2012: 370,000 (until the adjustment)
The max variation is a statistically insignificant 3.8%....yep, its falling at warp speed.
The laborious department adjusted the claims upward last week by 2000, so they are recycling the 2000 this week. And this does not mean unemployment is improving—what propaganda!
These numbers are terrible. This is the most vile propaganda trolling for obama votes.
Why is “initial jobless claims” the only reported unemployment stat?
What about the working percentage of the adult population?
( /rhetorical questions)
Why don`t they simply state any number of sirst-time applications below 1,000,000 is stupendous and declare full employment? That wouldn`t be any less believable than the B.S. that`s being spewed now.
That said, I very cynically doubt all facts being released by Obama’s minions. They lie.
I don't for a second doubt that as the election gets closer, numbers will magically start looking much, much better. The executiev branch is now running a separate set of books.
sirst-time = first-time
Initial jobless claims at same level as mid December 2011. No improvement.
The last number I read was 375K. It wasn't too long ago, probably a few weeks.
When I first started paying attention to the numbers, the "magic number" was 125K. That was 2006 or 2007-ish.
Mind you, it's not the lies I dislike...All politicians lie, it's just their nature. No, what bothers me is the fact that the media covers for them, and also thinks I'm stupid enough to believe all their lies.
yup, that's very true.
However, it's obvious to me that they're being jiggered with. In any statistical sample, I'd expect (with some variation) the numbers to be correct and unchanged some weeks, and then either revised up or down, approximately evenly, for the remainder of the weekly samples.
However, the weekly numbers were later revised upwards 51 out of 52 weeks last year. What do you suppose the odds of that are? :-)
However the big media reports a decline in unemployment claims every week .They've done it every week that I've seen for the past few months. And then the government revises those numbers up but the media doesn't report the revision but then the “decline” from that revision again next week. The media are pure liars,statist/marxist, democrat, propagandist, political activists not reporters.
Hewlett Packard is laying off 27,000.
Let’s see how they hide that number!!