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U.S. Weekly Jobless Claims Unexpectedly Drop To 334,000
RTT News ^ | 06/13/2013

Posted on 06/13/2013 7:31:44 AM PDT by SeekAndFind

In a positive sign for the U.S. jobs market, the Labor Department released a report on Thursday showing that first-time claims for unemployment benefits unexpectedly decreased in the week ended June 8th.

The Labor Department said initial jobless claims fell to 334,000, a decrease of 12,000 from the previous week's unrevised figure of 346,000.

The modest decrease came as a surprise to economists, who had been expecting initial jobless claims to edge up to 350,000.

With the unexpected decrease, jobless claims fell for the second consecutive week, pulling back toward the five-year low of 327,000 set in the week ended April 27th.

The report also showed that the less volatile four-week moving average dipped to 345,250, a decrease of 7,250 from the previous week's unrevised average of 352,500.

Chris Low, chief economist at FTN Financial, said, "Both claims and the four-week average are higher than they were in early April, but the drop is consistent with a gradually falling trend in the rate of layoffs."

Meanwhile, continuing claims, a reading on the number of people receiving ongoing unemployment assistance, edged up to 2.973 million in the week ended June 1st from the preceding week's revised level of 2.971 million.

(Excerpt) Read more at rttnews.com ...


TOPICS: Business/Economy; Culture/Society
KEYWORDS: joblessclaims; jobs; unemployment
It's fun with Thursday job numbers once again.

BTW, the word -- "unexpectedly" is in the title, so the writer has preempted everyone who claims "in" before anyone else :)

1 posted on 06/13/2013 7:31:44 AM PDT by SeekAndFind
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To: SeekAndFind

At some point, there just aren’t any more workers to be layed off.


2 posted on 06/13/2013 7:33:42 AM PDT by Go Gordon (Barack McGreevey Obama)
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To: SeekAndFind

There are millions of jobless whose unemployment benefits have run out. Let’s just pretend they don’t exist.


3 posted on 06/13/2013 7:37:37 AM PDT by E. Pluribus Unum (There is no reason for the Deputy Assistant Commissioner of Paperwork to have his own Seal Team Six.)
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To: SeekAndFind

Riiiiiiiiiiight and next week the numbers will “unexpectedly” be adjusted higher!


4 posted on 06/13/2013 7:37:49 AM PDT by rockabyebaby (We are sooooooooooooooooooooooooooooooooo screwed!)
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To: SeekAndFind

The previous week was UNREVISED!!!!

That is *truly* unexpected!


5 posted on 06/13/2013 7:38:29 AM PDT by C210N (When people fear government there is tyranny; when government fears people there is liberty)
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To: SeekAndFind

No surprise to us. In this state, the unemployed are now the “comfortable poor.” They lounge around the pools of their taxpayer-paid apartments and munch on food also paid for by the working class. One young man we tried to hire to work for us said that he would have to wait until September to start, since he and his wife would be spending the summer in the Bahamas, courtesy of his unemployment and her disability pay. ??????


6 posted on 06/13/2013 7:38:56 AM PDT by July4
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To: July4

RE: In this state, the unemployed are now the “comfortable poor.”

And which state in this once great country of ours is that?


7 posted on 06/13/2013 7:41:37 AM PDT by SeekAndFind
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To: SeekAndFind

No matter what the discussion about averages, historic trends, economic normalcy, etc., last week a third of a million Americans filed for unemployment checks.

And that is supposed to be good news.

Because the week before slightly MORE than a third of a million Americans filed for unemployment checks.


8 posted on 06/13/2013 7:42:48 AM PDT by xzins (Retired Army Chaplain and Proud of It! True supporters of our troops pray for their victory!)
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To: SeekAndFind

‘Unexpectedly’ is in the title. That was unexpected............


9 posted on 06/13/2013 7:51:47 AM PDT by Red Badger (Want to be surprised? Google your own name......Want to have fun? Google your friend's names........)
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To: SeekAndFind

And what’s the over/under on how much it will be adjusted upwards next week?

We all know the initial number is pretty much useless as it stands.


10 posted on 06/13/2013 7:52:02 AM PDT by Stosh
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To: SeekAndFind

It’s amazing how some reporters seize upon a slight tick down in otherwise dismal numbers as being positive.


11 posted on 06/13/2013 7:52:03 AM PDT by Old Retired Army Guy
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To: SeekAndFind

Yeh, 7250 people hit their 99 weeks of unemployment and dropped off the rolls. Oh yeh they must have gotten a job. Not.


12 posted on 06/13/2013 7:52:17 AM PDT by Georgia Girl 2 (The only purpose of a pistol is to fight your way back to the rifle you should never have dropped.)
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To: Georgia Girl 2

RE: 7250 people hit their 99 weeks of unemployment and dropped off the rolls

So what next for these 7,250? Do they starve or what?


13 posted on 06/13/2013 7:53:47 AM PDT by SeekAndFind
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To: SeekAndFind
RE: In this state, the unemployed are now the “comfortable poor.”

And which state in this once great country of ours is that?

The state of Melancholia.................

14 posted on 06/13/2013 7:54:43 AM PDT by Red Badger (Want to be surprised? Google your own name......Want to have fun? Google your friend's names........)
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To: SeekAndFind

Then, next week or the week after, when the REAL numbers are finally collated, the new applicants for unemployment compensation will “unexpected” rise to even more than the original number submitted.

New hires minus the number of new claims is STILL a negative number, as the actual full-time equivalent jobs continue to decline. People are working at two or more part-time jobs, which is improperly reported as two or more jobs, while there is still only one person actually earning paychecks from multiple sources.


15 posted on 06/13/2013 7:55:26 AM PDT by alloysteel (When did the government suddenly become our psycho ex-girlfriend? - Jay Leno)
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To: SeekAndFind

I live in the South, but I would have to agree with the point I think you’re making: Unemployment is not sufficiently uncomfortable anywhere in the US to give those enjoying it motivation to leave poolside (or the Bahamas!) and go to work.


16 posted on 06/13/2013 7:55:53 AM PDT by July4
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To: E. Pluribus Unum

Not to worry, those who have run out of unemployment are safely on ss disability now


17 posted on 06/13/2013 7:59:31 AM PDT by bert ((K.E. N.P. N.C. +12 ..... Who will shoot Liberty Valence?)
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To: July4

Not only that but why work when you can apply for EBT and do nothing for “free”? We’re already considering H1B visas as even the so-called Ivy League grads we interviewed were dumber than your normal HS grad.


18 posted on 06/13/2013 8:04:30 AM PDT by max americana (fired liberals in our company after the election, & laughed while they cried (true story))
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To: SeekAndFind

“RE: 7250 people hit their 99 weeks of unemployment and dropped off the rolls. So what next for these 7,250? Do they starve or what?”

Disability is the new ticket. Just enjoy and vote Dem every 4 years. No sweat.


19 posted on 06/13/2013 8:05:24 AM PDT by July4
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To: Go Gordon
"At some point, there just aren’t any more workers to be layed off."

So true. The jobless claims at this point probably reflect a fair amount of churning in the economy. It would be interesting to see how long they held jobs before being laid off. Is it long term jobs we are still losing or short term jobs. How do desperate people who reapply for benefits but who aren't eligible get counted?

20 posted on 06/13/2013 8:06:45 AM PDT by DannyTN
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To: Go Gordon
"At some point, there just aren’t any more workers to be layed off."

So true. The jobless claims at this point probably reflect a fair amount of churning in the economy. It would be interesting to see how long they held jobs before being laid off. Is it long term jobs we are still losing or short term jobs. How do desperate people who reapply for benefits but who aren't eligible get counted?

21 posted on 06/13/2013 8:06:45 AM PDT by DannyTN
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To: max americana

In addition to food, lodging, etc., there must be plenty of $$$ in unemployment payments; most job seekers we see can’t pass a drug test.


22 posted on 06/13/2013 8:09:18 AM PDT by July4
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To: July4
One young man we tried to hire to work for us said that he would have to wait until September to start, since he and his wife would be spending the summer in the Bahamas, courtesy of his unemployment and her disability pay.

If someone said that to me, I would have told him that the job offer was rescinded.

23 posted on 06/13/2013 8:12:38 AM PDT by Fresh Wind (The last remnants of the Old Republic have been swept away.)
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To: bert

I wish you were being sarcastic.


24 posted on 06/13/2013 8:17:31 AM PDT by E. Pluribus Unum (There is no reason for the Deputy Assistant Commissioner of Paperwork to have his own Seal Team Six.)
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To: Georgia Girl 2
Yeh, 7250 people hit their 99 weeks of unemployment and dropped off the rolls.

You can't "drop off" something that doesn't include you in the first place. In other words, a decrease in the average number of apples does not apply to oranges. This statistic is called "first-time claims for unemployment benefits" [emphasis added].

25 posted on 06/13/2013 8:21:21 AM PDT by 1rudeboy
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To: SeekAndFind

Good question. They probably go bankrupt and lose their house. Terrible things are happening. Its the great depression all over again except that the MSM just hides it. With the social safety nets you don’t see the people out panhandling on the streets or standing in line for the soup kitchen. Otherwise likely no difference. When we can’t borrow any more money for this stuff the cities will be on fire.

you have a guy in the Whitehouse making sure that no new jobs get created. That is his job make no mistake. If Obama was concerned about jobs wouldn’t he be doing things to try to stimulate the economy instead of just flying around the country to fund raisers every day?

He’s never in the Oval Office except for a photo op. So if he does not get impeached you are looking at 3.5 years of more of the same. What will be left at that point? We will probably have a total economic collapse and CWII at the rate we are going.


26 posted on 06/13/2013 8:23:32 AM PDT by Georgia Girl 2 (The only purpose of a pistol is to fight your way back to the rifle you should never have dropped.)
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To: Georgia Girl 2
Obama was concerned about jobs wouldn’t he be doing things to try to stimulate the economy instead of just flying around the country to fund raisers every day?

They had all the answers, still do if you ask 'em. They never imagined their methods would not work (for the umpteenth time it has been tried). Now they have no recourse but to borrow and print.

27 posted on 06/13/2013 8:28:09 AM PDT by going hot (Happiness is a momma deuce)
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To: Fresh Wind
If someone said that to me, I would have told him that the job offer was rescinded. It was. Too bad for him and us; he was the most talented we interviewed.
28 posted on 06/13/2013 8:40:17 AM PDT by July4
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To: Georgia Girl 2

Yes, terrible things are happening, but not to the welfare/unemployment/disability recipients. The ones that are REALLY suffering are the ones who work and save; now savings are being cannibalized to pay mortgages and taxes. Even people lucky enough to have jobs are finding that the prices of food and energy are killing them.


29 posted on 06/13/2013 8:48:54 AM PDT by July4
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To: 1rudeboy

When people drop off the unemployment rolls they stop counting them. It does not mean they got a job but it it improves the unemployment numbers.


30 posted on 06/13/2013 9:04:24 AM PDT by Georgia Girl 2 (The only purpose of a pistol is to fight your way back to the rifle you should never have dropped.)
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To: Georgia Girl 2

Completely false, and probably the most common misconception about how the unemployment rate actually is calculated. I can provide a link layer if you wish.


31 posted on 06/13/2013 9:16:34 AM PDT by 1rudeboy
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To: SeekAndFind

The weekly manure stats from a trustworthy government.


32 posted on 06/13/2013 9:35:20 AM PDT by headstamp 2 (What would Scooby do?)
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To: Georgia Girl 2

Basically, whether or not you are eligible for unemployment compensation (or whether you are receiving it, or whether you stopped receiving it), is not a factor in the calculation of the unemployment rate. The main reason is that not everybody is eligible for compensation in the first place. So statistically, if you used it as a factor, you would be doing the equivalent of taking a snapshot with your finger covering half of the lens.


33 posted on 06/13/2013 10:15:33 AM PDT by 1rudeboy
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The UI [unemployment insurance] figures are not produced by the Bureau of Labor Statistics. Statistics on insured unemployment in the United States are collected as a by-product of UI programs. Workers who lose their jobs and are covered by these programs typically file claims ("initial claims") that serve as notice that they are beginning a period of unemployment. Claimants who qualify for benefits are counted in the insured unemployment figures (as "continued claims"). Data on UI claims are maintained by the Employment and Training Administration, an agency of the U.S. Department of Labor, and are available on the Internet at: http://workforcesecurity.doleta.gov/unemploy/claims.asp.

These data are not used to measure total unemployment because they exclude several important groups. To begin with, not all workers are covered by UI programs. For example, self-employed workers, unpaid family workers, workers in certain not-for-profit organizations, and several other small (primarily seasonal) worker categories are not covered. In addition, the insured unemployed exclude the following:

Bureau of Labor Statistics
34 posted on 06/13/2013 10:20:28 AM PDT by 1rudeboy
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Comment #35 Removed by Moderator

To: SeekAndFind

Okay, I had read an article concerning Wal-Mart this morning and within that article it pointed out that the Unemployment Rate had risen. So, here’s the link:

http://sweetness-light.com/archive/wal-mart-is-now-only-hiring-temporary-workers


36 posted on 06/13/2013 10:59:52 AM PDT by LibertarianLiz
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To: LibertarianLiz

Two things can be said about the report about Wal-Mart hiring.

1) If you are currently unemployed but are not actively looking or have been turned down so often that you are discouraged and have given up looking, YOU ARE NOT COUNTED IN THE OFFICIAL UNEMPLOYMENT RATE.

2) If you are working part time, even a few hours a week as a temp ( as in working for Wal-Mart as a temp ) YOU ARE NOT COUNTED IN THE OFFICIAL UNEMPLOYMENT RATE.

All the above combine to make the official unemployment rate look BETTER than it really is.


37 posted on 06/13/2013 12:17:56 PM PDT by SeekAndFind
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