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.