Posted on 09/27/2012 6:01:19 AM PDT by SeekAndFind
The number of Americans filing new claims for jobless benefits fell last week to the lowest level in two months, a hopeful sign for a labor market that has struggled to gain traction in recent months.
Initial claims for state unemployment benefits dropped 26,000 to a seasonally adjusted 359,000, the lowest level since July, the Labor Department said on Thursday. The prior week's figure was revised up to show 3,000 more applications than previously reported.
Economists polled by Reuters had forecast claims falling to 378,000 last week. The four-week moving average for new claims, a better measure of labor market trends, fell 4,500 to 374,000, breaking five straight weeks of increases.
A Labor Department official said there were no special factors influencing the report and no states had been estimated.
The labor market has been mired in weakness as worries about higher taxes and deep government spending cuts in January, the ongoing debt problems in Europe and slowing global growth lead employers to be cautious about ramping up hiring.
Sluggish job gains and stubbornly high unemployment spurred the Federal Reserve this month into launching a third round of bond purchases to drive down already low interest rates.
The U.S. central bank vowed to buy $40 billion worth of mortgage-backed securities each month until it sees a sustained upturn in the labor market.
(Excerpt) Read more at reuters.com ...
Claims are down because they’re working part time or their 2 years (or whatever) ran out....
They will be revised upward next week.
[Of course it does. It MUST show that Obama’s policies are working as we get near the election. Look for more massive UE drops in the weeks to come.]
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[These numbers hold as much credibility as the MSM daily news reports do.]
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Guess what!
“The prior week's figure was revised up to show 3,000 more applications than previously reported.” per reuters.com
‘Seasonally adjusted’ s/b ‘politically adjusted’.........
doctored stats..been reading about lay offs all week.
and what were jobs created?
Wow! Break out the champaign!
(((YAWN))) More of the “unexpected” from the government. This is getting old too.
HAPPY DAYS ARE HERE AGAIN!
ONLY 1.44 million jobs lost in 4 weeks — all heil Hussein!
Didn’t Bank of America just announce they were laying off 15000 workers by the end of the year?
RE: Didn’t Bank of America just announce they were laying off 15000 workers by the end of the year?
You are too optimistic, it’s really 16,000.
See here :
http://www.bizjournals.com/kansascity/blog/2012/09/bank-of-america-speeds-up-layoff-plans.html
TITLE: Bank of America speeds up layoff plans
EXCERPT:
Bank of America Corp. is speeding up its plan to slash 30,000 jobs by 2015. It’s now expected to lay off as many as 16,000 by the end of the year, according to Thursday news reports.
I worked for BofA this past summer
I cannot believe the total incompetance I saw at ever level.
If any Freeper here is a BofA exec. PM me
The phoney baloney jobs numbers again.. Only when a democrat is president is losing 359,000 jobs a good sign.
Trend in recent months.
March 15: Reported - 351,000, Revised - 353,000
March 22: Reported - 348,000, Revised - 364,000 Reported - down 5,000, Actual - up 11,000 ***
March 29: Reported - 359,000, Revised - 363,000 Reported - down, Actual - down
April 05: Reported - 357,000, Revised - 367,000 Reported - down 6,000, Actual - up 4,000 ***
April 12: Reported - 380,000, Revised - 388,000 Reported - up, Actual - up
April 19: Reported - 386,000, Revised - 389,000 Reported - down 2,000, Actual - up 1,000 ***
April 26: Reported - 388,000, Revised - 392,000 Reported - down 1,000, Actual - up 3,000 ***
May 03: Reported - 365,000, Revised - 368,000 Reported - down, Actual - down
May 10: Reported - 367,000, Revised - 370,000 Reported - down 1,000, Actual - up 2,000 ***
May 17: Reported - 370,000, Revised - 372,000 Reported - no chg, Actual - up 2,000 ***
May 24: Reported - 370,000, Revised - 373,000 Reported - down 2,000, Actual - up 1,000 ***
May 31: Reported - 383,000, Revised - 389,000 Reported - up, Actual - up
June 07: Reported - 377,000, Revised - 380,000 Reported - down, Actual - down
June 14: Reported - 386,000, Revised - 389,000 Reported - up, Actual - up
June 21: Reported - 387,000, Revised - 392,000, Reported - down 2,000, Actual - up 3,000 ***
June 28: Reported - 386,000, Revised - 388,000, Reported - down 6,000, Actual - down 4,000
July 05: Reported - 374,000, Revised - 376,000, Reported - down 14,000, Actual - down 12,000
July 12: Reported - 350,000, Revised - 352,000, Reported - down 26,000, Actual - down 24,000
July 19: Reported - 386,000, Revised - 388,000, Reported - up 34,000, Actual - up 36,000
July 26: Reported - 353,000, Revised - 357,000, Reported - down 25,000, Actual - down 21,000
August 2: Reported - 365,000, Revised - 367,000, Reported - up 8,000, Actual - up 10,000
August 9: Reported - 361,000, Revised - 364,000, Reported - down 6,000, Actual - down 3000
August 16: Reported - 366,000. Revised - 368.000. Reported up 2000, Actual -up 4000
August 23: Reported - 372,000.Revised - 374,000, Reported up 4000, Actual - up 6000
August 30: Reported - 374,000. Revised - 377,000, Reported up 2000, Actual - up 3000
September 6: Reported - 365,000, Revised - 367,000, Reported down 12,000, Actual - down 10,000
September 13: Reported - 382,000, Revised - 386,000, Reported - up 15,000, Actual - up 18,000
September 20: Reported - 382,000, Revised - 385,000, Reported - down 4,000, Actual - down 1,000
September 27: Reported - 359,000
No way Obama can win with the economy this bad.
ping
“The prior week’s figure was revised up to show 3,000 more applications than previously reported.” per reuters.com “”””
I have kept track of the Unemployment new claims for the full 2011 & 2012 years.
There has NOT been one single week when the propr week’s claims were NOT revised UPWARDS.
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