Free Republic

The Bureau of Labor Statistics have another election present for President Obama: initial jobless claims dropped to their lowest point since 2008. Initial jobless claims fell to 339k and an upwardly revised (of course) figure of 369k from the previous week. This nosedive in initial jobless claims is consistent with the BLS’ “Hail Mary!” jobs report released last week where 873k jobs appeared as if President Obama prayed at Lourdes for a miracle. On the other hand, initial jobless claims ROSE by 26k to 327k on a non-seasonally adjusted (NSA) basis. It appears that consumers aren’t buying it. The Bloomberg...

Job openings in the U.S. dropped for a second straight month in August, indicating companies are reluctant to beef up payrolls through year-end without faster economic growth. The number of positions waiting to be filled fell by 32,000 to 3.561 million from a revised 3.593 million the prior month that was less than previously estimated, the Labor Department said today in a statement. Hiring increased at the same time firings rose to a three-month high. Companies such as Foot Locker Inc. are facing a weakening global economy and the possibility of automatic tax increases and government cutbacks, helping explain limited...

WASHINGTON (MarketWatch) -- First-time claims for state unemployment benefits fell sharply in the latest week to their lowest level since February 2008, the Labor Department reported Thursday. The number of initial claims in the week ending Oct. 6 fell 30,000 to 339,000. The decline was unexpected.

On the heels of a positive September jobs report, which showed a 0.3 percentage point drop in the national unemployment rate, prominent conservative Jack Welch and some others on the right are questioning the source of the numbers, suggesting on Twitter that the Obama team had in some way manipulated the data to their advantage. "Unbelievable jobs numbers..these Chicago guys will do anything..can't debate so change numbers," wrote Welch, the former chairman and CEO of General Electric, shortly after the September jobs report was released. Conservative radio host Laura Ingraham piled on in a Twitter message of her own: "Jobs...

For a country still gasping to recover from the Great Recession, disability payments from Social Security have evolved into a lifeline and an economic trap for millions of unemployed Americans threatening the program with insolvency in just four short years. Created decades ago to help those unable to work because of severe health problems, the $128 billion program stops many from sliding into total poverty and inflicting further damage on the economy. More Americans qualified for disability than found jobs over the past three months, and since 2000, the number of beneficiaries rose by 73 percent, even though the workforce...

WASHINGTON (AP) — The U.S. unemployment rate fell to 7.8 percent last month, dropping below 8 percent for the first time in nearly four years. The rate fell because more people found work, a trend that could impact the presidential election.

WASHINGTON (Reuters) - The number of Americans filing new claims for unemployment benefits rose less than expected last week, according government data on Thursday that suggested a mild improvement in the labor market. Initial claims for state unemployment benefits climbed 4,000 to a seasonally adjusted 367,000, the Labor Department said. The prior week's figure was revised up to show 4,000 more applications than previously reported. Economists polled by Reuters had forecast claims rising to 370,0000 last week. The four-week moving average for new claims, a better measure of labor market trends, was unchanged at 375,000. It was the first time...

The number of Americans filing new claims for jobless benefits fell last week to the lowest level in two months, a hopeful sign for a labor market that has struggled to gain traction in recent months. Initial claims for state unemployment benefits dropped 26,000 to a seasonally adjusted 359,000, the lowest level since July, the Labor Department said on Thursday. The prior week's figure was revised up to show 3,000 more applications than previously reported. Economists polled by Reuters had forecast claims falling to 378,000 last week. The four-week moving average for new claims, a better measure of labor market...

More Americans than forecast filed applications for unemployment benefits last week, adding to concern the labor market is slackening. Jobless claims decreased by 3,000 in the week ended Sept. 15 to 382,000, Labor Department figures showed today in Washington. The median forecast of 49 economists surveyed by Bloomberg projected 375,000. Looming tax increases and government spending cuts slated to take effect next year, should lawmakers fail to act, may block any pickup in hiring following last month’s smaller-than-projected gain in payrolls. The Federal Reserve last week undertook a third round of asset purchases in a bid to reduce joblessness that...

U.S. manufacturing closed out its weakest quarter in three years this month and the number of Americans filing new claims for jobless benefits held near two-month highs last week, suggesting the economic recovery is failing to gain traction. Financial information firm Markit said its U.S. “flash”, or preliminary, manufacturing Purchasing Managers Index stood at 51.5 in September, unchanged from August. A reading above 50 indicates expansion. The index averaged 51.5 in the third quarter, below the 54.2 registered between April and June, for its worst showing since the third quarter of 2009. At 51.2, the output component was the lowest...

(Reuters) - The number of Americans filing new claims for jobless benefits rose more than expected last week, with several states reporting an increase related to Tropical Storm Isaac. Initial claims for state unemployment benefits rose 15,000 to a seasonally adjusted 382,000, the highest in two months, the Labor Department said on Thursday. The prior week's figure was revised up to show 2,000 more applications than previously reported. Economists polled by Reuters had forecast claims rising to 370,000 last week. A Labor Department official said Tropical Storm Isaac, which drenched parts of the country, accounted for about 9,000 of the...

Still above 8%—and closer to 19% in a truer accounting... Don't be fooled by the headline unemployment number of 8.1% announced on Friday. The reason the number dropped to 8.1% from 8.3% in July was not because more jobs were created, but because more people quit looking for work. The number for August reflects only people who have actively applied for a job in the past four weeks, either by interview or by filling an application form. But when the average period of unemployment is nearly 40 weeks, it is unrealistic to expect everyone who needs a job to keep...

THE EMPLOYMENT SITUATION -- AUGUST 2012 Total nonfarm payroll employment rose by 96,000 in August, and the unemployment rate edged down to 8.1 percent, the U.S. Bureau of Labor Statistics reported today. Employment increased in food services and drinking places, in professional and technical services, and in health care. Household Survey Data The unemployment rate edged down in August to 8.1 percent. Since the beginning of this year, the rate has held in a narrow range of 8.1 to 8.3 percent. The number of unemployed persons, at 12.5 million, was little changed in August. (See table A-1.) Among the major...

Two key indicators on employment show a hint of moderate job growth for August 2012, one day ahead of the official report from the Bureau of Labor Statistics. First, weekly jobless claims dropped slightly to 365,000 last week, according to the Department of Labor: In the week ending September 1, the advance figure for seasonally adjusted initial claims was 365,000, a decrease of 12,000 from the previous wee's revised figure of 377,000. The 4-week moving average was 371,250, an increase of 250 from the previous week's revised average of 371,000.The advance seasonally adjusted insured unemployment rate was 2.6 percent for...

<p>WASHINGTON (AP) — Fewer Americans applied for unemployment benefits last week, and a private survey showed businesses stepped up hiring in August. The data sketched a brighter outlook for the job market one day before the government reports on August employment.</p>

The jobless rate for rural counties rose to 8.4 percent in July 2012--lower than the 9.1 percent rate recorded a year ago, but continuing a trend that began in April of this year. Agricultural regions have suffered an unusually dry summer, in addition to economic problems shared in common with urban and suburban regions. The news comes ahead of tomorrow's release of August employment data by the Bureau of Labor Statistics. Analysts are already predicting a slight rise in the unemployment rate, from 8.3 to 8.4 percent--though media outlets are already describing that rise as "steady" rather than an increase.

While a majority of jobs lost during the downturn were in the middle range of wages, a majority of those added during the recovery have been low paying, according to a new report from the National Employment Law Project. "The overarching message here is we don't just have a jobs deficit; we have a 'good jobs' deficit," said Annette Bernhardt, the report's author and a policy co-director at the National Employment Law Project, a liberal research and advocacy group.

What is the problem of unemployment? It’s a political issue, in a way, the biggest one of them all. What is it that makes unemployment below 5% an achievement, and unemployment above 5% a crisis? And why do the left and the right have such different approaches to that crisis? 5% unemployment has long been considered “effectively full employment” in the United States. At this rate, Americans feel, everybody who wants a job right now either has that job or is in the process of a willing, patient search for the right one. There are always couple percent who are...

Jobless claims were little changed at 374,000 in the week ended Aug. 25, matching the upwardly revised figure from the prior week, the Labor Department reported today in Washington. The four-week moving average, a less volatile measure, climbed to a six-week high. In fact, jobless claims are at December 2011 levels, indicating fear of new taxes from Obamacare and the dreaded fiscal cliff. Continuing jobless claims are stuck at March 2012 levels, not a good sign this far after the end of the recession. On the other hand, Consumer spending in the U.S. climbed in July for the first time...

The number of Americans filing new claims for jobless benefits was unchanged last week, pointing to a labor market that was treading water. Initial claims for state unemployment benefits were a seasonally adjusted 374,000, the Labor Department said on Thursday. The prior week's figure was revised up to show 2,000 more applications than previously reported. ...snip... Jobless claims have risen by 10,000 in August, suggesting some moderation in the pace of job growth this month after payrolls increased 163,000 in July from 64,000 in June.