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.
I got some swampland in florida to sell anyone if they also believe there such a thing as a “jobless economic recovery”.
My husband has been laid off for three months. He is not qualified for unemployment benefits until next week. There are a lot of people that are not working that don’t show up in these figures.
Hooverville Obama-ville, now leave.
1/2 a million more people out of work, but hey there is a D in the White House and both houses of congress, lets spin spin spin... Moronic.
More than 3 years of growth have been completely whiped out yet things are looking good? Be serious.
Why does he have to wait so long to get his unemployment benefits?
Exactly. I was just thinking the same thing when I saw the headline. Each hour and half hour, the news 'blips' are played and they are hammering the words lower than 'expected', 'unexpectedly etc etc. People tend to pick up on buzz words and the media know that and uses words to manipulate people into a 'lull'. (imo)
To be revised upwards and buried at the bottom of next month’s story about the unexpected drop in jobless claims. Every employment metric has been better than expected since this sick circus pulled into town. Meanwhile, the concept of job creation is a distant fantasy.
Please post me a link to a confirmation of this. Most states offer 6 months at the most of standard unemployment benefits, and you might get a 3 month extention on top of that. But thats it.
53 week extention? Were you being sarcastic about something?
Must be getting down to where there aren’t that many people left to lay off. Then the number is bound to drop.
I think that's a big part of it.
To be revised upward next week. In any event, any jobless claim number over 500,000 is a terrible number, historically speaking. Companies are shedding fewer workers because there are few workers left to lay off, short of going out of business.
It is in this story. Just read on down.
Well, the 'Rat Gooberner of Michigan said last week that Michigan will add 42,000 new green jobs over the next eleven years!.....
These people are turning into weathermen. They have no clue what’s coming but making predictions nonetheless.
Almost all of my customers have that sign on their front door, not applications at this time.
Weathermen are occasionally right.
I’m no fan of GWB but I do remember when unemployment was around 4.5, Nancy and her crew were screaming that these were not “the right kind” of jobs.
Yep. It says to me that people really need to develop marketable job skills because the days of landing a job at the local widget factory, putting in your 20 and retiring are over, probably for good. Our gubmint has made it ridiculously difficult to do business in this country and compete globally thanks to excessive taxes and regulation. If this health care boondoggle passes I expect a lot more to move off shore. I still see a lot of companies are hiring engineers and other highly skilled people, though....
“The right kind” of jobs are politically correct, “green”, GOVERNMENT UNION jobs.
How are they going to spin the layoffs in December. Traditionally, companies lay off at that time of the year as a nice little Christmas present.
Ain't it, though? She actually stood there with a straight face in a state that is, for all intent and purposes in a depression, and said this as if everyone should be impressed. As Rush commented, we should be creating 42,000 jobs A DAY in this country.....not spread out over 11 years!
What would be unexpected is new jobs being created and unemployment actually going down instead of up.
He truly is Urkel, “Did I do that?”
AFAIK over 300k is bad.