U.S. weekly jobless claims drop 25,000 to 370,000

marketwatch.com ^ | December 6, 2012 | Jeffry Bartash

[John W]

WASHINGTON (MarketWatch) - Applications for U.S. unemployment benefits fell by 25,000 to a seasonally adjusted 370,000 in the week ended Dec. 1, the Labor Department said Thursday. That's the third straight decline and lowest reading in one month. Initial claims from two weeks ago were revised up to 395,000 from an original reading of 393,000, based on more complete data collected at the state level.

The average of new claims over the past month, meanwhile, edged up by 2,250 to 408,000. The four-week average reduces seasonal volatility in the weekly data and is seen as a more accurate barometer of labor-market trends

[Doogle]

....wait for the adjustment

[DAC21]

Whether Dems believe it It not, most Company’s are not Scrooge at this point in the year. A lot of Layoffs will hold off until the new year, add the letting go of the Holiday help. Feb will be bad.

[jersey117]

This must be pre-Citibank - 11,000.

[Hoodat]

4-Week-Average Jobless Claims At 13-Month High As Sandy Effects Gone

[FlingWingFlyer]

(((YAWN))) Anybody actually believe this stuff anymore?

[lacrew]

“That’s the third straight decline .”

“The average of new claims over the past month, meanwhile, edged up by 2,250 to 408,000.”

Hmmm

[ilovesarah2012]

Seasonal hiring. Wait for February.

[hal ogen]

Bottom line translation: in the longer term trend, most people are screwed

[FR_addict]

Many people can no longer collect unemployment for 99 weeks, but that doesn't mean they are employed. They just don't count as unemployed anymore.

U.S. Winds Down Longer Benefits for the Unemployed
New York Times

[andy58-in-nh]

Check out the seasonal adjustment: -128,000. By contrast, Not Seasonally Adjusted Initial Claims increased by 139,678 - the highest since last January to 498,619. More fun with numbers from your pals at the Bureau of Lying with Statistics.

[mykroar]

But then of course there's this:

Planned Layoffs Hit Highest Level Since May

[massmike]

Gallup’s seasonally adjusted unemployment rate is 8.3%, nearly a one-point increase over October’s rate.

http://www.gallup.com/poll/159104/unadjusted-unemployment-shoots-back.aspx

[Buckeye McFrog]

The adjustment will come after we go off the fiscal cliff and Barry starts blaming Republicans. What a setup.

[1rudeboy]

They just don't count as unemployed anymore.

False. You can be counted as unemployed regardless of whether or not you are collecting unemployment benefits.

[JohnnyP]

I’ve read that if you are out of school and looking for work you are not unemployed, because you haven’t had a job yet. To be unemployed from. :)

[1rudeboy]

That’s not true, either. If you do not have a job, you have looked for work in the previous 4 weeks, and you are available for work, you are counted as unemployed in the Current Population Surviey.

[concerned about politics]

Unemployment is back up to 8.3, yet according to the spinners, things are going great? What?

[Chances Are]

For those who want to follow these kinds of things a bit closer on a regular basis, here is an interesting economic calendar site, complete with "revised from" stats:

http://biz.yahoo.com/c/e.html

CA....

[AngelesCrestHighway]

"You see those damn liberals on that hill?...Send them to hell!"