Posted on 09/27/2012 6:01:50 AM PDT by mykroar
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, b reaking five straight weeks of increases.
(Excerpt) Read more at foxbusiness.com ...
Just ignore all the other signs this week....
prior week's figure was revised up to show 3,000 more applications
That never happens!
...and next week’s number will be back up in the 360k to 385k range. And it will be referred to as “unexpected”.
Plus, this week’s low number will be quietly revised upward.
In a nonrelated story-Disability claims rose by 19,000 last
week!
I dont believe it..I think these reports are doctored to make O look good..
I saw a tweet. “Jobless Claims down because there are no jobs to become jobless from.”
LOL... But true. Think about it. If there are no new net jobs created in 4 years, and you are only allowed so many weeks to collect. Eventually you could have UE claims drop to 300k with unemployment staying stagnant at 8-9%.
...a hopeful sign for a labor market that has struggled to gain traction in recent months.
Never seen that statement before.
In other Obanomic news....the monthly chocolate ration has been increased from 22 grams to 20 grams....
and "unexpected" has been upgraded to "surprisingly unexpected."
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