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 ...
Foreclosures: 'Worst three months of all time'
Aw, man, you worry too much.
The Stimulus is working Biden says so! Economists agree that the worst is over! There's nothin' but good times ahead: < /sarc>
And as these foreclosures hit, and investors don't have 20% down or the credit to buy them up, and the property tax base of all of the counties and municipalities CONTINUES to plummet the economy is going to get EVEN STRONGER!
My theory on why the stock market is up: Companies can be profitable with relatively far fewer people. To make MORE money, they have to hire more. They won’t do that until they’re turning away business if they don’t.
NPR was talking that up in a very big way just the other day. Huge achievement -- 10,000! Whoo-Hoo! They also very pointedly mentioned that the first time the DJIA hit 10,000 was 10 years ago and the president was Bill Clinton.
There seemed to be an implied assumption that in between Clinton and Obama and those glorious 10,000 point peaks, there was just a long sad trough while Bush was president. But maybe I'm paranoid.
But if I recall correctly, when the Democrats seized congress in 2006, DJIA was 14,000, the deficit was $180B, and unemployment was 4.5%. And that, you may recall, was the worst economy since Hoover.
Well they’ve certainly got Jeff Daniels working awfully hard at it. And he’s a bad actor.
You are so right. I know of people who have applied for hundreds of jobs (myself included) and all of us have been lucky to get 1-2 interviews!
Now that makes sense. Sell it to FOX so they can get the word out. Every last news outlet states that the unemployment numbers are improving.
I’m not sure I believe this number. Here in south Florida, it seems to be getting worse, not better.
NOt just the O admin, but the democrat party in general
I see you aren’t quite up to speed on things are you?
So people with engineering and computer degrees didn’t develop marketable job skills and expect to get a job at the widget factory?
How about me? I sold industrial insurance for 20 years. Guess what, no more industry, no more need for insurance. For decades, MY ‘marketable job skill’ was a very wise career choice.
Maybe you just haven’t read any newspapers lately and don’t quite grasp what is going exactly. At least I can only hope that is the case and you aren’t lost in your little imaginary world.
Yes, this is a normal cycle of profit AFTER layoffs. The
companies get to hire when the cycle is over, sometime in
summer of 2012, and pay lower wages if they can grow again.
The banks however are artificially high as they are NOT foreclosing on all of the properties
they can because of changes in mark-to-market rules, particularly the changes in April 2009.
So, 8 months later, we're still losing the 500,000 jobs per month that Pelosi meant to threaten us with. Let us all not forget that.
But The Dear Leader has decreed that he has both saved and added jobs. Surely, it must be true. You, sir, are a trouble maker. How dare you base your perceptions on reality. Really!!!!!!!!
Be prepared to be audited. If that doesn’t get you on board then the Marxist Onada will bring to bear the politics of personal destruction to get your head right.
If it were Bush the headline would be
“another half million file”
course it is the messiah so all is well.
Even the most ardent loony left wing nut would realise how the so called media are covering for their cult hero.
My how they must laugh at how real average Americans are being lied to.
Well, my anecdotal sense is that they are NOT going to be hiring because people are NOT going to be spending because of the gloomy, if not dangerous future as it stands with communist leadership. I figure hiring always lags behind demand to a certain extent, especially in the early stages of a recovery. That creates unfulfilled demand which drives inflation.
Couldn’t this mean that there’s less people applying or illegible for unemployement? I mean, you don’t get unemployment for ever. This number is meaningless.
After unexpectedly losing the Chicago Olympic bid and unexpectedly winning the Nobel Peace Prize...
People are still losing jobs but the market is recovering? Page me when the numbers hired start outpacing the numbers lost.
Whatever. It's not IMPROVING. The first wave of hemorrhaging may have slowed, but we're still bleeding to death.
At this better than expected rate of job loss, there will be nobody working in entire country in a little over 3 1/2 years.
Prayers up for you and your family. Let us know if we can do anything to help, short of sending money of course, because none of us have any...and the Bush Tax Cuts haven’t even expired yet, LOL!
My severance package gave me a nice cushion to help soften the blow. Hopefully the FT jobs will come back. Right now, there are few FT jobs with benefits......most are PT.
*SIGH* My son got laid off yesterday from TDS, a local cable/internet company. He sort of saw it coming, but it still hurts and sets him back as far as finishing college on time, etc.
Anyhow, my husband is an IT Guru and has his own business which is doing well because while people aren’t buying new systems, they’re VERY interested in making the most of what they already own...and he makes better money on service versus sales. Sonny can work for Dad for a while to tide him over.
Am I a Bad Mom for hoping he doesn’t want to move back home? I really love my Sewing Room which was his old bedroom, LOL!
Sorry to hear about your son....seems as though everyone knows someone (or many!) who have been laid off.
And yet all we hear is how the economy is improving.
It is getting worse, but the good news is that it is getting worse slower than expected.
We’re laying off a bunch of seasonal workers at the garden center next week. They knew it was seasonal work, but a few haven’t seemed to make any plans beyond next week. None of them want to sell Christmas Trees for me, though it has been offered. (I’m going to ask my son if he wants some hourly cash and tips, so that’s a little something for him.)
We can’t afford to keep them, nor could we justify the cost for our v-e-r-y s-l-o-w winter months. Four people a day and a cashier can run our shop for the months of January and February and most of March.
Wanna come sell Christmas Trees for me? It’s actually pretty much fun. We keep a bonfire going and sometimes slip a little schnaaps into our hot cocoa. ;)
Ah well, excellent point.
Of course, I also wasn’t referring to somebody that switches jobs within the same company etc. I would be willing to do that, just not do the same exact thing for 20 years.
Most young people today don’t want to either.
But, working for your own company....that’s different. You’re the boss.
It is the economists who are incompetent. Their models of the macroeconomics of the economy are simply broken, and they refuse to admit it.
I’m not saying that this administration is competent, BTW - just that the “expectation” was on the part of economists (within and outside the administration), not political hacks.
Because in 08 he had to file,he used up all of that . Then thankfully he returned to work in January. So we thought we were covered when he did his 6 mos. Evidently that was not long enough and he had to wait until October to qualify again.
This year is not as bad. We saved a good bit of our tax return and were able to coast until now.
re: a sign the labor market is slowly improving
No it’s not. It’s a sign that it’s not worsening as fast as it was. Lack of worsening is not, by definition, improving.
And besides that, it’s an editorial comment and has no place in a news article.
Like another poster said, get back to me when jobs are being added!
More unexpected job loss ... blah blah blah ... heard this 2 weeks ago ...
But regardless ... it still equals jobs being lost and not replaced ... This has become EXPECTED from the idiot politicians in the country... And the real Unemployment rate including part time workers is way higher ... [BEGIN RANTING AND RAVING]
And this is the reason why the government is paying so much unemployment ... When the # of jobs continues to decrease without adding additional jobs ... people have no where to work ...
So tell me why again is "Don't Ask Dont Tell" or "Health Care Reform" more important than getting people to work again.
Priorities... [/END RANTING AND RAVING]
I would SO do that Diana, but Wisconsin is a bit too far from S Florida to commute LOL! I love schnapps ;)
You probably don’t have enough warm clothes to make it through our winter either, LOL!
I did a winter in MI, and grew up in NJ, so cold is no stranger ( I really miss it actually). But, you are right, I left my coat on the other side of the mason dixon line LOL.
HAPPY DAYS ARE HERE AGAIN - Champagne corks fly!
That was my thought, too.
Well the labor pool expectedly has been going down so the ratio must be worse than unexpected. The expected the expectations to be better.
525,000 (predicted loss)
-514,000 (actual loss)]
Wow. Obama saved 11,000 more jobs last week. The gains just keep piling right up!
Keep up the good work, Dear Leader!!
I don’t blame you! :)
I think that unemployment is above 10%, more like 12 or 13 per cent.
These figures come from unemployment benefit claims. A lot of people do not qualify, and do not even bother.
I know guys inn the trades who have worked all their lives , 5 days a week.They are now working 2 days a week and expect lay off ayt anytime, here in Vermont.
I wonder how many of them have simply lived off of benefits without updating their resume with new job skills. Then there are people who have found and are working multiple jobs while barely making ends meet.
well,yester day a whole gang of “consultants” at a federal site which I will not name were called in and offered full time jobs at the site, very unusual, usually takes three of four years. But this was done fast and was shocking to all. One is a relative so I vouch for this.
I wonder if it is happening all over. Many federal jobs were outsourced to big companies outside federal sites some time ago.
It will be “adjusted” in a few days and will actually be more than they “expected”.
Someone told me that you can actually file enough extensions on unemployment to end up drawing it for a total of two years.
Foreclosures: ‘Worst three months of all time’
That headline will puts a chill up my spine.
Better get a warm cup of coffee.
Has anyone on the Freep cataloged all these freaking “The Recession is over” articles?
I have a feeling this is going to be their “mission accomplished” moment.