Skip to comments.U.S. weekly jobless claims drop 25,000 to 370,000
Posted on 12/06/2012 5:44:44 AM PST by John W
WASHINGTON (MarketWatch) - Applications for U.S. unemployment benefits fell by 25,000 to a seasonally adjusted 370,000 in the week ended Dec. 1, the Labor Department said Thursday. That's the third straight decline and lowest reading in one month. Initial claims from two weeks ago were revised up to 395,000 from an original reading of 393,000, based on more complete data collected at the state level.
The average of new claims over the past month, meanwhile, edged up by 2,250 to 408,000. The four-week average reduces seasonal volatility in the weekly data and is seen as a more accurate barometer of labor-market trends
(Excerpt) Read more at marketwatch.com ...
....wait for the adjustment
Whether Dems believe it It not, most Company’s are not Scrooge at this point in the year. A lot of Layoffs will hold off until the new year, add the letting go of the Holiday help. Feb will be bad.
This must be pre-Citibank - 11,000.
(((YAWN))) Anybody actually believe this stuff anymore?
“That’s the third straight decline .”
“The average of new claims over the past month, meanwhile, edged up by 2,250 to 408,000.”
Seasonal hiring. Wait for February.
Bottom line translation: in the longer term trend, most people are screwed
U.S. Winds Down Longer Benefits for the Unemployed
New York Times
Check out the seasonal adjustment: -128,000. By contrast, Not Seasonally Adjusted Initial Claims increased by 139,678 - the highest since last January to 498,619. More fun with numbers from your pals at the Bureau of Lying with Statistics.
Gallup’s seasonally adjusted unemployment rate is 8.3%, nearly a one-point increase over October’s rate.
The adjustment will come after we go off the fiscal cliff and Barry starts blaming Republicans. What a setup.
False. You can be counted as unemployed regardless of whether or not you are collecting unemployment benefits.
I’ve read that if you are out of school and looking for work you are not unemployed, because you haven’t had a job yet. To be unemployed from. :)
That’s not true, either. If you do not have a job, you have looked for work in the previous 4 weeks, and you are available for work, you are counted as unemployed in the Current Population Surviey.
My sister works on Wall Street - they discount all UE figures from the beginning of Nov. thru Jan. every year.
Seasonal hiring skews the figures - not reliable during this time period.
I’m one of those people who won’t be filing unemployment this coming Sunday. I’m thankful to be working but like far too many people, I’m making much, much less, with no benefits, than I was making at my last job. This government is a fraud. God help us.
Sure. The hiring for the Christma season accounts for that.
Wait until people are done with their returns, around the second week of Jan when all the the college kids are going back to school.
With the 359K number removed from the workforce— this is how you get a drop in the RATE of unemployment to the oh boy! 7.7% tout by govt.. The ACTUAL number of total unemployed is extremely large.
Excellent commentary at zero hedge with graphics. The 24-54 group has lost the most (that 359K number)— and perhaps the younger-most of them voted for obamao. Of interest is that the older group 55-69 increased 177K (employers are willing to risk experienced people who are not generational whiners— my opinion).