"Yes, thanks to the leadership of our Dear Leader, full employment is soon to be seen all throughout our great land."
Posted on 09/03/2009 9:35:14 AM PDT by TigerLikesRooster
New jobless claims down 4,000 to 570,000 last week
Continuing claims rise 92,000 to 6.23 million, U.S. data show on eve of payrolls
By Rex Nutting, MarketWatch
WASHINGTON (MarketWatch) -- The number of people filing for state unemployment benefits for the first time fell by 4,000 to a seasonally adjusted 570,000 last week, the Labor Department reported Thursday.
Initial claims have held in a fairly narrow range for the past seven weeks, down about 100,000 from the peak in March but still well above levels seen in a healthy economy.
The number of people claiming benefits of any kind remained above 9.5 million, not seasonally adjusted. Read the full report.
"The lack of job creation remains a big headwind for cash-starved and credit-constrained consumers, and thus a major impediment for the fledgling recovery," wrote Sal Guatieri, senior economist for BMO Capital Markets.
The four-week average of seasonally adjusted new claims rose 4,000 to 571,250, the highest in eight weeks. The four-week average smoothes out the data to minimize the impact of one-time changes due to weather, strikes or holidays.
(Excerpt) Read more at marketwatch.com ...
when does the August jobs report come out??
When everyone is out of work, the headline will read, “No New Jobless Claims to Report. Economy Turns Corner”
It is not the number of unemployed but the duration of unemployment that is displaying the magnitude of this economic contraction.
I think it’s the 1st Friday of the new month.
their answer will be to extend unemployment benefits by
3 years ,4 months.
Yahoo headlined this by saying: “New jobless claims drop less than expected”. Talk about making a negative sound like a positive.
It is not the number of unemployed but the duration of unemployment that is displaying the magnitude of this economic contraction.”
IMO, it is both.
What isn’t being covered is the number of illegals who are now not working and cannot apply for unemployment because they worked under the table for cash for years. The Central Valley in California has areas of real unemployment of over 50%.
I don’t pity them. They are getting the bite in their ass that they caused for Americans not to have those jobs earlier.
The self-employed are the ones I pity most. They do not qualify for unemployment, and they are often the “Little Engines That Could” which start new companies, even if on a shoestring and in the garage with one employee.
George Hurst- the man who created the Hurst shifter and who made the tools that fire departments use in getting people out of wrecked cars— started in a one-car garage in Pennsylvania.
Understatement of the Year award
"There were times when it seemed to the animals that they worked longer hours and fed no better than they had done in Jones's day.
On Sunday mornings Squealer, holding down a long strip of paper with his trotter, would read out to them lists of figures proving that the production of every class of foodstuff had increased by two hundred per cent, three hundred per cent, or five hundred per cent, as the case might be.
The animals saw no reason to disbelieve him, especially as they could no longer remember very clearly what conditions had been like before the Rebellion. All the same, there were days when they felt that they would sooner have had less figures and more food."--Chapter VIII
OK, the trick that has been played for about the past 3 or 4 weeks is they revise UP the prior weeks claims, then when the claims this week are equal or more than last week’s claims they say claims DROPPED.
So mark my words. Next week, claims will still be 570,000, but they will say this was a drop because this weeks claims were revised up to 575,000.
The fact is, claims have been essentially unchanged for a month.
Anyone have a chart on this?
Bank on it.
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