Jobless claims show unexpected improvement

AP ^ | June 5, 2008 | Martin Crutsinger

[Toddsterpatriot]

Jobless claims drop unexpectedly but key indicator of unemployment hits four-year high

WASHINGTON (AP) -- The number of laid-off workers filing claims for unemployment benefits showed an unexpected improvement last week although a key indicator of unemployment hit a four-year high. The Labor Department reported Thursday that applications for unemployment benefits totaled 357,000 last week, some 18,000 fewer than the previous week. That pushed applications for benefits to their lowest level since mid-April.

However, the four-week average for people receiving benefits edged up to 3.086 million, the highest level since March 6, 2004, when the country was still struggling to recover from a prolonged period of rising unemployment.

The increase in so-called continuing claims underscored the problems people are facing with rising layoffs and the difficulty in finding new jobs in a weak economy.

The unemployment report for May will be released on Friday. Analysts are expecting that the overall civilian jobless rate will edge up to 5.1 percent, compared to 5 percent in April, and that businesses will have cut 60,000 jobs, marking the fifth straight month of job losses.

This prolonged stretch of job cuts has many economists believing the country has fallen into a recession.

However, the overall economy as measured by the gross domestic product has managed to remain in positive territory with the GDP growing at an annual rate of 0.9 percent in the first three months of the year.

[Toddsterpatriot]

However, the overall economy as measured by the gross domestic product has managed to remain in positive territory

He sounds sad.

[Toddsterpatriot]

Our doom draws ever closer!

[ClearCase_guy]

Jobless numbers improve and the media's big takeaway is:

key indicator of unemployment hits four-year high

[CSM]

What? I thought the world was coming to an end.

[jdege]

Generally, by the time the media notices an economic downturn, it’s almost over.

There were empty, foreclosed houses on my block before anyone in the media had run a story on the “housing crisis”.

Now, I’m seeing stories about the housing crisis every day, and the foreclosed houses are being refurbed and reoccupied.

There’s a house across the street that has been empty for three years - it finally sold last month, and a crew started remodeling it yesterday.

[gridlock]

It must have been vote fraud. After all, nobody I know voted for Nixon!

[Sacajaweau]

You mean it doesn’t agree with the MEDIA’s AND Dem’s gloom and doom projections.

[Toddsterpatriot]

And any improvement is unexpected.

[Just A Nobody]

...has many economists believing the country has fallen into a recession.

Have they formally changed the indicators for the great recession yet? Isn't it two consecutive quarters of NEGATIVE, not slowed down, numbers that indicates a recession?

[jwparkerjr]

I am proposing a new journalism rule.

If you say something positive only so that you can use the next sentence or phrase to report doom and gloom it does not count as positive coverage. We can call it the “Big BUT” rule.

It's sad that today's journalists, and I use that word with reluctance, only say something positive as a precursor to something negative, or usually a string of somethings negative.

The MSM is eventually going to cut off its nose despite its face. The reason readers and viewers are abandoning the dinosaur media is that Americans, for the most part, are tired of the constant barrage of bad news and negative opinions. Sooner or later, hopefully sooner, so many will have fled the MSM that they will be financially unable to continue, and at that point they will be dead, dead at their own hand. What a pleasing thought.

I have nothing but contempt for the whole lot of them. They know that most Americans pay little if any attention to the details of news and politics. Their practice has been to flood the media with negative information, knowing some of it will stick.

My wife's sweet old favorite aunt was a Southern Christian lady and reserved certain words for special occasions. Her word for this, and the MSM would be a simple “bastards”.

[Toddsterpatriot]

Generally, by the time the media notices an economic downturn, it’s almost over.

The media, and Willie, noticed this downturn 6 years ago. They failed to notice the recovery.

[Retired Greyhound]

"Do not believe these lies. We are indeed in a recession."

[Russ]

The favorite word of the media when reporting something good about the economy: BUT. It's the word that follows the good news as predictably as night follows day.

[<1/1,000,000th%]

Unexpected?

[RogerD]

The Labor Department reported Thursday that applications for unemployment benefits totaled 357,000 last week, some 18,000 fewer than the previous week. That pushed applications for benefits to their lowest level since mid-April.

18,000 fewer unemployment applications ... poor and minorities hardest hit?

[Toddsterpatriot]

We can call it the “Big BUT” rule.

Everyone I know has a big butt.

[neodad]

Worst..... economy ..... ever .....

[TexasNative2000]

No, no, no....... You all are missing the most important point here.

Now that Obama is the nominee, why, everything is starting to look up! Things are unexpectedly better! All of our economic news is suddenly "surprisingly better than expected."

The drumbeat begins........

[FMBass]

Brother, can you spare a dime.

[Ticonderoga34]

But, but, but Barry Hussein Obama can improve on these numbers.

Why? Because of CHANGE and HOPE, my friend, because of CHANGE and HOPE! And Barry Hussein Obama is the King of CHANGE and HOPE!

OK. Seriously it’s an election year with a Republican in the White House so the MSM is going to play the Herbert Hoover card and try to paint the economy as being in recession and/or depression. You can count on this like clockwork.