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Jobless claims fall, trend reading at near five-year low
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Posted on 02/07/2013 6:42:34 AM PST by traumer

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Jobless claims fall, trend reading at near five-year low ReutersReuters – 41 minutes ago

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A job seeker (R) meets with a prospective employer at a career fair in New York City, October 24, 2012. REUTERS/Mike SegarView Photo

A job seeker (R) meets with a prospective employer at a career fair in New York City, October 24, 2012. REUTERS/Mike Segar

WASHINGTON (Reuters) - The number of Americans filing new claims for jobless benefits fell last week and a trend reading hit a near five-year low, pointing to ongoing healing in the labor market.

Initial claims for state unemployment benefits dropped by 5,000 to a seasonally adjusted 366,000, the Labor Department said on Thursday. The prior week's claims figure was revised to show 3,000 more new claims than initially reported.

Economists polled by Reuters had expected 360,000 claims last week.

Claims were volatile in January due to the timing of holidays and the dates on which weeks ended, but a Labor Department analyst said some of that volatility appeared to be receding. The analyst said there was nothing unusual in the data, and no states estimated their readings.

The four-week moving average for new claims, a gauge of the trend in layoffs, dropped 2,250 to 350,500. That was the lowest level since March 2008, suggesting a steady improvement in labor market conditions.

The claims report showed the number of people still receiving benefits under regular state programs after an initial week of aid increased 8,000 to 3.22 million in the week ended January 26.

(Excerpt) Read more at finance.yahoo.com ...


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To: treetopsandroofs

What they meant was more people gave up looking for work. Took awhile to learn how this administration talks but if you just assume everything has spin on it or is a lie or both it makes it easier to understand.


21 posted on 02/07/2013 7:32:38 AM PST by jsanders2001
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To: treetopsandroofs

Any positive graphs are “pimped out” for obvious reasons by investment bankers and the like. Things maybe slightly improving, but the fundamentals are lacking (Especially with the current government’s “hand” on manipulating currency/regulations). Investment bankers still need to make money though, so accentuate the positives and downplay the negatives.


22 posted on 02/07/2013 7:34:11 AM PST by rollo tomasi (Working hard to pay for deadbeats and corrupt politicians.)
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To: rollo tomasi

They’ve got at least two alleged conservatives here pimping for them.


23 posted on 02/07/2013 7:35:53 AM PST by treetopsandroofs (Had FDR been GOP, there would have been no World Wars, just "The Great War" and "Roosevelt's Wars".)
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To: treetopsandroofs

Yeah, you’re always going to get those type of comments, but there were a lot of other very good comments on that thread.

Obama’s economic malaise.

The population is growing at a far faster rate than we are creating jobs.


24 posted on 02/07/2013 7:49:22 AM PST by Obadiah (We must commit to remove every Senate Blue-dog Democrat from office in 2014!)
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To: LucianOfSamasota

Your metric, labor participation rate, is the key people should be focusing on (along with U6).


25 posted on 02/07/2013 7:49:55 AM PST by 11th Commandment (http://www.thirty-thousand.org/)
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To: treetopsandroofs
Not sure if I am one of the ones of whom you speak but I posted on the other weekly jobless claims post the 4-week average did in fact fall to 350,000 and that is the lowest point since March 2008. I see that the original article in this thread says the same.

Here's the data from FRED:


26 posted on 02/07/2013 7:54:00 AM PST by Wyatt's Torch (I can explain it to you. I can't understand it for you.)
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To: traumer

Lets see, does anyone else think tha the insane numbers of people on “disability” might have something to do with it? Also just plain going up and living on other government plans? When there is no incentive to work and provide, many people will choose it. There is no pride any more, and no shame.


27 posted on 02/07/2013 7:55:03 AM PST by vpintheak (Occupy your Brain!)
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To: treetopsandroofs
Here's the analysis from IHS Global Insight:

Initial unemployment insurance claims fell by 5,000, to 366,000, in the week ended 2 February. The four-week moving average decreased 2,250, to 352,750—the lowest since March 2008.

- Initial unemployment insurance claims fell by 5,000, to 366,000, in the week ended 2 February.

- The four-week moving average decreased 2,250, to 352,750—the lowest since March 2008.

- Continuing benefits programs reported 8,000 more claimants in the week ended 26 January, bringing the total up to 3.2 million. Regular benefits typically last for a period of 26 weeks; claimants are required to check in weekly to provide updates on their job search to receive compensation.

- Emergency unemployment compensation (EUC), which immediately follows the exhaustion of regular benefits, was provided to 1.83 million people in the week ended 19 January—a drop of 288,471.

The four-week moving average fell to its lowest level since March 2008. That’s the good news. The not-so-good news is how slow the recovery is proceeding. The four-week moving average is down only 25,000 from a year ago. Meanwhile, the January unemployment rate edged up a 10th of a percentage point, to 7.9%, down from 8.3% a year earlier.

The recent changes seen in emergency unemployment compensation and extended benefits data may reflect the effects of the American Taxpayer Relief Act of 2012. These programs had been slated to expire at the end of December; however, they were extended until the end of 2013, as part of the fiscal cliff agreement. Continuing claims and initial claims were not affected by the fiscal cliff deal. The only programs threatened by the cliff were those serving people who had been receiving unemployment benefits for upwards of 26 weeks.

January payroll employment was nothing special, at 157,000. We are expecting about the same (150,000, to be exact) for February.

28 posted on 02/07/2013 8:00:15 AM PST by Wyatt's Torch (I can explain it to you. I can't understand it for you.)
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To: treetopsandroofs

I wasn’t “poo-pooing” [sic] the “bad news” because I think the economy is improving.

Rather, I was trying to point out the sadness of the paranoid thinking that the statisticians in the bowels of the BLS are on some sort of PR crusade to make the economy look better than it really is. The numbers are the numbers, they’re not misrepresenting them for politics, they’re doing the best they can.

Also, you should learn the difference between the weekly jobless claims data which is the gross data of new claims of benefits, and the monthly unemployment figure, which nets the newly hired from the newly jobless to come up with a “net” figure. That is the reason why you can have positive numbers in the “initial claims” data week after week, but in the monthly report show the non-farm payrolls rising.

I have to go poo-poo something else now, but I’ll be back later to check for your apology.


29 posted on 02/07/2013 8:21:20 AM PST by babble-on
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To: babble-on

“I have to go poo-poo something else now, but I’ll be back later to check for your apology.”

Not a chance.

Thanks for proving my point.


30 posted on 02/07/2013 8:30:03 AM PST by treetopsandroofs (Had FDR been GOP, there would have been no World Wars, just "The Great War" and "Roosevelt's Wars".)
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To: Cringing Negativism Network
How about AMERICANS, SPENDING MONEY IN AMERICA, TO HIRE AMERICANS.

Great concept, once one negotiates the tortuous labyrinth of things you can get sued for and pays out the small fortune in obamacare.

Me, If you want to work for my company, you're going to be a subcontractor and deal with your own stuff.

In the meantime, the government will be the biggest employee growth sector, because the rest of us have to have money left over from a finite resource when the day is done. They can just print more and promise it out to whomever they please, and make rules about who does or doesn't get hired that would land a private employer in court.

31 posted on 02/07/2013 9:03:40 AM PST by Smokin' Joe (How often God must weep at humans' folly. Stand fast. God knows what He is doing)
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To: traumer

Jobless claims fall and welfare claime increased,so much for math.


32 posted on 02/07/2013 9:15:46 AM PST by Vaduz
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To: Wyatt's Torch; blueyon; traumer; ltc8k6; Smokin' Joe; skeeter; FlingWingFlyer; John W; txrefugee; ..
No matter how you slice it we are in a world of hurt. The Labor participation rate is the lowest in 16 years, yet we are being told that employment is trending up?





Looking back to when they began tracking the LPR, you will see that Obama is the only president to ever have consistently lowered the number of Americans who are participating in the labor market. All to make it look like the unemployment rate is not getting worse.

No matter how you slice it, the unemployment rate in America is worse today than it was when Obama was elected in 2008. Trust me, it will only get worse.
33 posted on 02/07/2013 9:43:51 AM PST by OneVike (I'm just a Christian waiting to go home)
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To: OneVike

I meant to say that the EPR is the lowest EVER!

I originally was going to post an image of just 16 years, but then realized I could get a graph that covered back to 84.


34 posted on 02/07/2013 9:50:43 AM PST by OneVike (I'm just a Christian waiting to go home)
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To: OneVike

It will only get worse.
Indeed by the day.


35 posted on 02/07/2013 9:59:49 AM PST by Vaduz
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To: OneVike

Wow, I never realized it was so bad.

At this rate Obama will have the labor participation rate down to 61.5% when he leave office in 2017.

That is frighten scary. Cool graphs. Whee did you get them?


36 posted on 02/07/2013 10:09:06 AM PST by Yellowstone Joe
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To: Yellowstone Joe
No, I lifted them from the governments website, Bureau of labor Statistics. You can find everything you need to find that will blow up the lefts attempt to convince us that the employment picture in the country is doing just fine.

Sadly, the vast amount of Americans will never seek the information they need to know the truth. That's because they want to be low information voters who are led by their noses as if they are following a Pied Piper down the road to slavery.

By the way, welcome to FR newbie.
37 posted on 02/07/2013 10:18:18 AM PST by OneVike (I'm just a Christian waiting to go home)
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To: OneVike
I meant to say that the EPR is the lowest EVER!

Actually it's not even close to the lowest rate ever. Here's the data from FRED back to 1970.


38 posted on 02/07/2013 10:30:26 AM PST by Wyatt's Torch (I can explain it to you. I can't understand it for you.)
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To: Yellowstone Joe

Got to the St. Louis Fed data site called FRED. 60,000+ economic time series there.


39 posted on 02/07/2013 10:32:27 AM PST by Wyatt's Torch (I can explain it to you. I can't understand it for you.)
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To: OneVike

Thanks, interesting how the government actually posts the information needed to refute the Obama administrations claims yet the MSM cannot seem to find it so they just spout whatever they are fed.

I guess they know that the vast number of Americans will never waste their time to find the truth. They are too busy watching what’s on the latest reality show and reading about who’s who in the up coming Grammys.

Thanks for the welcome. From looking at your bio, you have been here since FreeRepublic started. That’s a looking time. Clinton was still president, and Obama was still racking up debt on his credit card. A lot has happened since you joined.

Thanks again, I guess I’ll see this comment posted sometime today, because I am still on probation. Hey you may know. How many times must I post a comment before I am off probation?


40 posted on 02/07/2013 10:53:00 AM PST by Yellowstone Joe
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