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U.S. jobless claims drop to five-year low
Reuters ^ | 1/17/13

Posted on 01/17/2013 6:06:19 AM PST by SoFloFreeper

The number of Americans filing new claims for unemployment benefits tumbled to a five-year low last week, a hopeful sign for the sluggish labor market.

Initial claims for state unemployment benefits fell 37,000 to a seasonally adjusted 335,000, the lowest level since January 2008, the Labor Department said on Thursday. It was the largest weekly drop since February 2010.

The prior week's claims figure was revised to show 1,000 more applications than previously reported.

While last week's decline ended four straight weeks of increases, it is probably not the start of a new trend or a sign of a material shift in labor market conditions as claims tend to be very volatile around this time of the year.

(Excerpt) Read more at mobile.reuters.com ...


TOPICS: Business/Economy; Culture/Society; Front Page News; News/Current Events
KEYWORDS: jobs
Even Reuters has to acknowledge this "improvement" is abnormal:

"it is probably not the start of a new trend or a sign of a material shift in labor market conditions..."

No $#!%, Sherlock.

1 posted on 01/17/2013 6:06:24 AM PST by SoFloFreeper
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To: SoFloFreeper

There is a bottom somewhere.


2 posted on 01/17/2013 6:08:06 AM PST by skeeter
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To: SoFloFreeper
The sluggish labor market and subdued inflation pressures are likely to keep the Federal Reserve on its ultra easy monetary policy course.

Massage the data to keep the spigot open or the whole thing collapses sooner rather than later.

3 posted on 01/17/2013 6:12:45 AM PST by Aevery_Freeman (Proud Thought Criminal since 1984)
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To: SoFloFreeper

If there are fewer people working, there has to be fewer to lay off. That must be the plan...


4 posted on 01/17/2013 6:15:41 AM PST by vet7279
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To: skeeter

It won’t be found for quite some time.


5 posted on 01/17/2013 6:15:57 AM PST by cableguymn (The founding fathers would be shooting by now..)
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To: SoFloFreeper

Oops...the unemployment numbers can’t go down or Helicopter Ben will need another reason to prop up this lousy economy by buying $85 Billion of US debt every month.


6 posted on 01/17/2013 6:16:33 AM PST by txrefugee
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To: SoFloFreeper

Oops...the unemployment numbers can’t go down or Helicopter Ben will need another reason to prop up this lousy economy by buying $85 Billion of US debt every month.


7 posted on 01/17/2013 6:16:33 AM PST by txrefugee
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To: SoFloFreeper
U.S. jobless claims drop to five-year low

The key word here is "claims". A huge number of people don't count (der 0berFuhrer refuses to acknowledge those that don't bow down to him), many have given up (you can beat your head against a brick wall for only so long), others have exhausted their benefits, while still others don't wants to jeopardize their chance at a free 0bamaphone by lifting a finger (Life is Good - 0bamunists to the core).

8 posted on 01/17/2013 6:36:11 AM PST by The Sons of Liberty (It's not "GUN CONTROL"! It's "PEOPLE CONTROL"!)
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To: SoFloFreeper

The States are still backlogged in processing claims so there are still many thousands not being reported here.


9 posted on 01/17/2013 6:39:14 AM PST by CodeToad (Liberals are bloodsucking ticks. We need to light the matchstick to burn them off.)
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To: SoFloFreeper
ZeroHedge noted the issues immediately:

In the unadjusted data, things look very different - with a lag, New York (37,189), Georgia (15,354), and North Carolina (13,606) saw major rises in initial claims with only Michigan (-12,536) seeing a decent drop in claims - as we note that non-seasonally-adjusted claims rose notably less than in the prior 4 years, and assuming seasonal-adjustments are triggered from those, this will reflect very rosily on today's seasonal adjustment.

10 posted on 01/17/2013 6:44:00 AM PST by RobertClark (It's 106 miles to Chicago, we got a full tank of gas, half a pack of cigarettes, it's dark and we'r)
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To: skeeter

some bottoms have trap doors.


11 posted on 01/17/2013 6:51:25 AM PST by stylin19a
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To: SoFloFreeper
A Labor Department analyst said the model had expected a large increase in claims last week, but the actual number of filings only showed a modest increase, leading to a big decline in the seasonally adjusted figure.

spin-o-rama ? so, did it fall or did it rise ?
12 posted on 01/17/2013 6:54:22 AM PST by stylin19a
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To: SoFloFreeper

...a hopeful sign

________________________

Only for the blind.


13 posted on 01/17/2013 6:56:51 AM PST by SumProVita (Cogito, ergo....Sum Pro Vita - Modified Descartes)
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To: SoFloFreeper

“A Labor Department analyst said the model had expected a large increase in claims last week, but the actual number of filings only showed a modest increase, leading to a big decline in the seasonally adjusted figure.”

I think I sprained my neck reading that sentence.


14 posted on 01/17/2013 6:58:20 AM PST by headstamp 2 (What would Scooby do?)
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To: The Sons of Liberty
The key word here is "claims".

Thus, the term: "initial claims for unemployment." As opposed to "continuing claims for unemployment." As opposed to the "unemployment rate" (U3, U6, etc.).

15 posted on 01/17/2013 7:02:49 AM PST by 1rudeboy
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To: SoFloFreeper
When employers employ MORE people part-time to avoid the effects of ObamaCare, this is one of the results.

Under-employment is still through the roof.

16 posted on 01/17/2013 7:08:24 AM PST by fwdude ( You cannot compromise with that which you must defeat.)
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To: SoFloFreeper

Just like the Presidency...


17 posted on 01/17/2013 7:13:46 AM PST by CMailBag
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To: The Sons of Liberty
The key word here is "claims".

Yep. The recent lay offs aren't eligible for benefits. They didn't work long enough.

There are no new jobs. They're still cutting back around the country. That can only mean the number of those who are eligible for benefits have gone down.

PS - Washington has printed so much monopoly money, we're running head first into a bond market crash. Expect the democrats to blame the debt limit debate for it ( because the American people are pretty stupid when it comes to economics. Most are public schooled).
That means massive inflation, i.e., 1930's type depression. Brace yourselves.

18 posted on 01/17/2013 7:28:08 AM PST by concerned about politics ("Get thee behind me, Liberal")
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To: SoFloFreeper

Unexpected....


19 posted on 01/17/2013 7:50:10 AM PST by Vendome (Don't take life so seriously, you won't live through it anyway)
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To: 1rudeboy

What are you seeing there? Are things getting better? There’s a lot of smoke out here.


20 posted on 01/17/2013 8:09:10 AM PST by 1010RD (First, Do No Harm)
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To: Vendome
Unexpected....

Oh yeah. Everything is coming up roses. Oboma saved us all.
(NOT)

21 posted on 01/17/2013 8:11:43 AM PST by concerned about politics ("Get thee behind me, Liberal")
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To: 1010RD

My unscientific business survey? Activity is up, but not brisk. Everyone’s still on the sidelines with regard to hiring.


22 posted on 01/17/2013 8:19:39 AM PST by 1rudeboy
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To: SoFloFreeper

23 posted on 01/17/2013 8:20:15 AM PST by mirkwood
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To: stylin19a
some bottoms have trap doors.


24 posted on 01/17/2013 8:24:37 AM PST by P.O.E. (Pray for America)
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To: SoFloFreeper

All is wonderful. Hell, we had only 6,000 apply at a job fair for 200 minimum wage jobs here in Albuquerque last week so things are looking good. Keep up the good work economy.


25 posted on 01/17/2013 8:34:19 AM PST by ProudFossil (" I never did give anyone hell. I just told the truth and they thought it was hell." Harry Truman)
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To: SoFloFreeper
I'd like to know how many government employees have been hired since Oboma was given affirmative action, and how much printed Monopoly money has been used to pay for them.

My guess is the entire house of cards is ...fake. It shouldn't be long before the veil is lifted, and everything is reveled. What we're going to see will be really, really, ugly!

26 posted on 01/17/2013 8:37:59 AM PST by concerned about politics ("Get thee behind me, Liberal")
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Comment #27 Removed by Moderator

To: SoFloFreeper

Benefit applications are down, and that’s good news!
BUT labor participation rates have fallen steadily since BHO took office, or about 3.3% since February of 2009. This means about 6 million less people have jobs today than at any point during Bush’s eight years.

For the record, labor participation rates dropped by 1.6% during Bush’s two terms. They’ve just dropped four times as quickly in BHO’s first term.

http://data.bls.gov/timeseries/LNS11300000

(rerun the graph from 2000 to see Bush’s two terms)


28 posted on 01/17/2013 9:12:06 AM PST by LucianOfSamasota (Tanstaafl - its not just for breakfast anymore...)
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To: stylin19a

It’s leftie double-speak. So obviously....

it did both.


29 posted on 01/17/2013 11:05:49 AM PST by XenaLee (The only good commie is a dead commie.)
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