Skip to comments.US jobless claims tumble to lowest level in nearly a decade (284,000)
Posted on 07/24/2014 6:47:03 AM PDT by SeekAndFind
The number of Americans filing new claims for unemployment benefits fell to the lowest level in nearly 8-1/2 years last week, suggesting the labor market recovery was gaining traction.
Initial claims for state unemployment benefits declined 19,000 to a seasonally adjusted 284,000 for the week ended July 19, the Labor Department said on Thursday.
That was the lowest level since February 2006, and confounded economists' expectations for a rise to 308,000.
The prior week's claims were revised to show 1,000 more applications received than previously reported.
(Excerpt) Read more at cnbc.com ...
Well then how come no one I know is working and is flat broke?
So in a slow economy, with fewer jobs, and more people opting out of the labor market . . .
Doesn’t it stand to reason that “jobless claims” would fall?
Fewer people working - fewer jobs to lose
RE: Well then how come no one I know is working and is flat broke?
What part of this great country do you live in?
Over a quarter of a million people NEWLY filed for unemployment [EACH WEEK!] and they call this ‘good news’.........................
The job numbers are so manipulated as to have no meaning.
‘Oceania has always been at war with East Asia.’
That's one interpretation, and given how the gov't always "adjusts" the figures upward about a week later, my guess is that this is totally bogus. It could also mean that: 1) the Discouraged Worker Hypothesis dominated the period and people just gave up looking for work, which would exclude them from jobless claims, or 2) their unemployment benefits ran out and they can't renew them until certain conditions are met (which can vary by state). Either way, Obozo will take credit for this when he deserves none, given that his policies are 180 degrees out of phase with what needs to be done. Still, you can count on a White House spin on the news. The media, of course, which has the economic IQ of a gnat, will lap is all up like a good lap dogs do.
I take back all the nasty things I’ve said about ‘Bummer in Chief.
Translation: People have run out of unemployment benefits or given up
You can’t believe one thing with this administration; not one.
Under 300k is normal churn, right?
Always these things are explainable.
To-date the wash has been between the employment rate, and the unemployment rate.
Unemployment was going down, but so was employment. People were moved out of the system entirely, to influence the unemployment rate which is reported. That has been happening now for several years.
I don’t see the employment rate as having received another cut this week.
Maybe they’ve just got a one- or two-week wash between the two metrics?
Anyone else have input on this?
I’m not sure the unemployment rate actually went down yet, but I’m not seeing where the change is.
Magic and voodoo. All it is, people exhausting their benefits.
Look at the U6 unemployment numbers. That’s a better reflection of the labor market and economy in general. Not the BS numbers the gov puts out.
Mid terms coming up.
“The number of Americans filing new claims for unemployment benefits fell to the lowest level in nearly 8-1/2 years last week, suggesting the labor market recovery was gaining traction.”
Well then all of those people on welfare will be working any day now...
How long will it take for everybody to be unemployed at 284k/month?
One happy nation on welfare.
Putin will share his wealth.
White flags on Brooklyn Bridge already signal that.
Looking at historical charts and if this number has any basis in reality, it is about as good as it gets since 90. Course, who can believe anything the gov says right now.
Under Bush, anything over 200K was "horrific, and the worst expected".
Then, under BO, that number went to 250, then 300, then 350, then 375. Looks like it might be back to 300, now.
Like a previous poster said...."We have always been at war with Oceania".