Unemployment aid applications tick down to 400K

AP ^ | August 4, 2011 | Christopher S. Rugaber

[John W]

WASHINGTON (AP) -- The number of people seeking unemployment benefits dipped last week, a sign the job market may be improving slowly.

The Labor Department says that applications for unemployment benefits edged down 1,000 to a seasonally adjusted 400,000. That's the lowest level in four months. The previous week's figure was revised upward from 398,000 to 401,000.

[mj1234]

straight News-?

I swear the O’bummer crowd is right out of “Brave New World”- manufactured wars- propaganda ministry-
scary stuff.- how about this for news...

Pelosi says “we will burn through that 2.4 trillion
debt limit in 18months”!! ALL the financial news
markets should have had a coronary- not even a peep.

no commentary, no questions.- everything is just fine.

[ClearCase_guy]

My favorite was when the seasonally adjusted figures for January were not good, the official explanation was "It snowed in January".

Yup. Totally unexpected.

But every month there's something else. Something unexpected. Poor Obama, he just can't catch a break.

[Roccus]

On the other hand, it could also mean that everyone has used up their unemployment benefits and are no longer elgible to receive unemployment checks.

The 400K is initial claims. Continuing claims are steady at abnout 3.73 million. However, extended claims rose by more than 12K.

[org.whodat]

That means that next week, the revised numbers will not be down a 1000, more than likely up by 3000.

[ClearCase_guy]

Continuing claims are steady at abnout 3.73 million.

If you've been out of work since 2007, are you counted as a "continuing claim"?

I think a large number of people have totally dropped off the screen.

[qam1]

My favorite was when the seasonally adjusted figures for January were not good, the official explanation was "It snowed in January".

My favorite was from

Economy Is in Self-Sustaining Recovery: Jeff Saut

"Saut says this soft patch was created by a very early Easter holiday observance, a rash of really bad weather, and the belated global repercussions of the Japanese earthquake and tsunami."

Easter in 2011 was on April 24th which is only one day short of the latest it can possibly be, but hey, no excuse is too big for Obama

[Roccus]

Of course they have.

Even before the crash, the underground economy was large. Today it is hugh and series.

[tiki]

Our state unemployment numbers went down and are quite low but unfortunately, it isn’t because we have created jobs it is because we have lost employment age population.

[tiki]

You have to give them some slack because these things are always “unexpected”. How could they know? I mean just today the sun unexpectedly came up!

[magellan]

400,000 a week. A week! That is one and three-quarters million a month. 21 million in a year at this rate.

And the ADP monthly private hiring numbers have been steadily in the 125,000 range. There is no more government hiring, in fact state and local governments, who have to live within their means, are laying off workers. So net/net, we are losing jobs at a rate of 19 million jobs a year. At that rate, total employment will drop by 12.5% in 12 months.

The only thing which is keeping the unemployment percentage below 10% is the number of people who have given up looking for work.