Skip to comments.Jobless Claims Drop UNEXPECTEDLY to 514,000
Posted on 10/15/2009 6:13:56 AM PDT by Blood of Tyrants
WASHINGTON -- The number of newly laid-off workers filing claims for unemployment insurance has fallen to the lowest level since early January, a sign the labor market is slowly improving.
The Labor Department said Thursday that first-time claims for jobless benefits dropped to a seasonally-adjusted 514,000 from an upwardly revised 524,000 the previous week. The fifth decline in six weeks was below Wall Street economists' forecasts of 525,000, according to Thomson Reuters.
The four-week average, which smooths fluctuations, fell for the sixth straight time to 531,500.
Economists closely watch initial claims, which are considered a measure of layoffs and the willingness of companies to add jobs.
(Excerpt) Read more at foxnews.com ...
Further proof that the American people elected the most incompetent president in history because he could read a good speech.
This metric could aslo point to another situation, employers are running out of people to lay off.
It’s still a half million. When are we going to see reports about jobs added?
So, what are we down to—a couple thousand people actually working these days?
I think it would be more reflective to report how many are still working full-time.
It’s that hole in a bucket thing again. Eventually you will run out of water in the bucket that has a hole in the bottom and you won’t lose as much water as fast. Doesn’t mean the hole is fixed.
Jobless claims, by themselves, are meaningless. They only have meaning when linked to the labor pool. If jobless claims dropped 514,000 and the labor pool expanded by 125,000 simultaneously, *that* is an indication that things are getting better.
If jobless claims dropped 514,000 and the labor pool dropped by 600,000 that would be an indication that things are getting worse, and that folks are too discouraged to even look for work.
Jobless claims rose? Well, that was unexpected.
What? They've revised the numbers? Jobless claims fell? Well, that was unexpected.
That is right. Real unemployment is about 17%. There is nothing but skin and bone now at the companies, but they are not hiring becuase of Obama and the demoraps threatening them with fines, punishment, and new taxes.
Saw some signs at factories this week that reminded me of the Great Depression. “Not accepting applications, do not inquire”
I am amazed how the Drive Bys put half a million jobless claims as good news.
If Bush were Prez, this’d be the lead story: “More Pain For Americans”
This will also be upwardly revised.
Other than the military, is there any federal government official, department or bureaucracy that has the credibility of a third tier used car salesman?
These people fabricate data to order.
They lie and twist the truth so much they don’t know how to be honest.
Have to start the day with a big bowl of Unexpected-O’s
The only thing unexpected is that they didn’t try this sooner.
Not to fear —> ALL of the illegal aliens who live in apartment complexes near me are still leaving in droves with lunch boxes to go to work every morning (at jobs Americans don’t want) ... >sarc
Wonder what data has been tampered with to make this number unexpectedly show up?
Release numbers that look good and get media attention. Later, revise the number downward for the media to ignore.
Congress recently extended unemployment compensation by 53 weeks.