Posted on 07/05/2012 8:00:17 AM PDT by SeekAndFind
Two new reports on Thursday provided some optimism the jobs market is improving.
First-time claims for unemployment benefits dropped to the lowest level since May, the first positive sign in weeks that layoffs may be slowing.
Separately, payroll provider ADP says private-sector businesses added 176,000 jobs to their payrolls in June, better than the revised total of 136,000 jobs for May.
The two reports come a day ahead of the closely watched monthly jobs report from the Bureau of Labor Statistics. Both President Obama and Republican presidential candidate Mitt Romney will be watching that report closely for signs of how the U.S. economy is doing. In May, the monthly report found the economy added only 68,000 jobs, a devastating blow for Obama's campaign. The weekly report found unemployment claims fell by 14,000 to a seasonally adjusted 374,000 for the week ending June 30, the lowest number since May 19, according to the Labor Department.
The four-week average, which is less volatile than the weekly figure, dropped slightly, down 1,500 to 385,750.
Economists argue that applications need to fall below the 375,000 level to reflect a healthy job market and falling unemployment rate.
Estimates for Friday's report range between 90,000 and 100,000, much lower than what ADP reported on Thursday.
Economists have said they expect hiring to pick up again this summer after a lull through the spring that they consider "payback" for the rapid growth over the warm winter, which shifted some hiring.
Bull Obama.
How many times have we heard this nonsense?
3 years after the so called recession ended we are happy about possibly getting a report that barely better than keeping up w new entrants?
Geeez.
actually i remember ADP predicting horrendous jobs numbers about a year ago and they turned out to be good....in the end it means nothing...
Only four months until D-Day for the Clown Prince. His sycophants and those reporting others statistics had to come up with something.
businesses thought that obamacare was going to be struck down right up until it was upheld last thursday. that abomination is an anchor around the neck of the economy. I look for jobs to tank after employers and hiring managers realize that it didn’t die after all.
Why would Obama be concerned about the jobs numbers? Everything I’ve read in the mainstream media says he is a LOCK to win reelection.
I wonder how many people is no longer looking for work?? Also there is a case of seasonal employment also...
Probably some companies holding jobs for the new college that have just graduated.
Wait until next month.
What's the definition of insanity again? (Wait until the seasonal layoffs hit. Ouch. That's gonna hurt.)
Obomas "Summers of Recovery" are as devastating as his muslin brotherhood take over of the middle east - his "Muslim Spring. "
I can't wait to see what his plans are for the Fall and Winter seasons. Maybe an "Autumn Come Back" and a "Winter of ....(Opps. He's not president anymore.)"
I honestly don’t know how anyone can take these numbers seriously.
These numbers are all a fraud. Just like the government manipulated LIBOR rate. If they can manipulate that then the jobs numbers are a piece of cake to manipulate.
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