Posted on 08/18/2016 6:23:08 AM PDT by maggief
The number of Americans filing for unemployment benefits fell more than expected last week, reinforcing views of labor market strength that could encourage the Federal Reserve to raise interest rates soon.
Another report on Thursday showed a modest improvement in manufacturing activity in the mid-Atlantic region this month amid rising shipments from factories. But weak new orders and shrinking order books suggested the manufacturing malaise was far from over.
Initial claims for state unemployment benefits dropped 4,000 to a seasonally adjusted 262,000 for the week ended Aug. 13, the Labor Department said. Claims for the prior week were unrevised.
Economists polled by Reuters had forecast initial claims slipping to 265,000 in the latest week.
Claims have now been below 300,000, a threshold associated with a strong labor market, for 76 straight weeks. That is the longest such stretch since 1973, when the labor market was much smaller.
(Excerpt) Read more at reuters.com ...
Nothing but rainbow farting unicorns and skittle-shitting fuzzy bunnies from now to November!
Our governments joke of the day.
You must believe!
We’ll be hearing this a lot until the election. The real report from the trenches is that the economy is softening.
I think one has to have HAD a job to file for Unemployment Insurance.
And the "homeless problem" has magically disappeared as well.
And .. this admin does not count the people who have stopped looking for work, mainly because their unemployment has run out and they no longer have to report.
92 MILLION PEOPLE ARE NOT WORKING. If you really did this calculation correctly, I think the last report said our UNEMPLOYMENT NUMBER IS REALLY 24, NOT 5.1.
THIS IS HOW OBAMA GETS AWAY WITH SAYING THE ECONOMY IS GOOD. I’ve always felt that Obama’s goal was to show the number as lower than it was when GW left office in 2008. IIRC, it was 5.4 ... I rest my case.
They have disappeared for the last 8 years in a time of recession and when for all appearances, it seems to be a growing problem with a record number of people out of work.
The only time in the last 8 years I have seen a story was the last election year, when for about a month it looked like Romney might win.
What happened to the 94 million who are not working and who should be working?
[That is the longest such stretch since 1973, when the labor market was much smaller.]
It still is.
Before the revisions anyway.
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