Skip to comments.Jobless claims fall to lowest in almost 4-1/2 years
Posted on 12/27/2012 7:09:02 AM PST by SeekAndFind
The number of Americans filing new claims for unemployment aid fell last week to nearly its lowest level in 4 1/2 years, a sign that the labor market is healing.
Initial claims for state unemployment benefits dropped 12,000 to a seasonally adjusted 350,000, the Labor Department said on Thursday. The prior week's figure was revised to show 1,000 more applications than previously reported.
After spiking in the wake of Superstorm Sandy, which ravaged the East Coast in late October, the weekly levels of new claims have now dropped to their lowest levels since the early days of the 2007-09 recession. The four-week moving average fell 11,250 last week to 356,750, the lowest since March 2008.
That suggests the surge in layoffs since the recession may have run its course, although companies still are adding to their payrolls at a lackluster pace.
The report included a caveat, at least for the latest week. President Barack Obama declared Monday a holiday for federal workers and many state offices followed suit and were unable to provide complete data for last week's jobless claims. Data for 19 states was estimated, a Labor Department official said. Fourteen of those states submitted their own estimates, which tend to be fairly accurate because the state officials work with a significant amount of data, the Labor Department official said.
(Excerpt) Read more at nbcnews.com ...
There are no good jobs out there. Jobs where people actually produce something useful are decreasing in the U.S. as this little socialist dictator Obama who stole the election destroys this country.
Who needs real jobs when the communist/democrat Obama creep borrows Trillion$ from China and prints trillion$ more dollars to give to welfare creeps, more people on disability, more unemployment checks, government workers ( who do nothing but cripple the private sector as in the EPA), non-profits( who do nothing useful nor any real work) , EBT cards etc.
Reading between the lines here, I see a clear message: “We’re making these numbers up. Have a nice day.”
All hail the Dear Reader.
Perhaps then... if the labor market is, as NBC asserts, “healing,” why is there a record number of Americans the numerical size of Spain (46.8 million) still on food stamps?
The workforce participation is horrendous.
People have dropped off the rolls, can’t find jobs and are essentially nonpersons according to the governments way of looking at employment.
Nonpersons. Hmmmmm...very Soviet. Of course, we are fascist at this point, not Soviet, yet.
Record numbers on food stamps are the result of “fundamentally transforming” Amerika, comrade.
Manipulated result. Who decides whom is a ‘discouraged worker’ or the various other categories which are not ‘counted’ for unemployment figures?
Labor participation rate is a much better metric, and it shows a steady decline since Barack I ascended to the throne. The 2 percentage point drop means that 4-5 million less people have jobs today than at any time during the Presidency of George W. Bush.
Hope and Change.
Someone has started his New Year's Eve partying a few days early. Do they really believe that 350,000 new jobless claims in a 3-day work week is somehow a positive sign? Really? These people aren't news reporters. They are propaganda artists.
Labor participation rate is the worst ever . And that is with all the fake jobs created in government and non-profits . Non-profits just run on government grants and produce nothing usefull or that is needed .
If you take out government jobs, jobs in non-profits , and government contractors you have the worst job market ever in the U.S. and that is with capitalism growing technology at an exponential rate which creates so many new products and new industries( for example the cell phone industry growing etc
I was wondering who would be the first person with that “little” fact.
sorry, our of = out of the
“”””The number of Americans filing new claims for unemployment aid fell last week to nearly its lowest level in 4 1/2 years, a sign that the labor market is healing.
Someone has started his New Year’s Eve partying a few days early. Do they really believe that 350,000 new jobless claims in a 3-day work week is somehow a positive sign? Really? These people aren’t news reporters. They are propaganda artists. “”””””
Yup, great news that ONLY 350,000 people PER WEEK are losing their jobs.
Or as someone I know correctly observed, under Obama people feel free to take a 20 hour a week “job” as Diversity Coordinator of the Splunge Foundation while going back to school to pursue an endless graduate degree in Marxist Feminist Theory, secure in the knowledge that gubbermint will pick-up the tab for your roof, your food, your healthcare, and will eventually forgive your school loans.
Happy Days Are Here Again...
No art invovled. they are propaganda hacks feeding a gullible public that’s willing to consume whatever lies they are tossed.
Of course, when the labor participation rate falls to zero, then unemployment will also fall to zero. And the Great Zero will have achieved His most profound Dream - He will once again be able to ride in His limo through dusty villages and see the wisdom in His people’s eyes ... Ah, all His fond chilhood memories ...
Of course the number of new claims is going down: Everybody who is eligible has already filed and/or used up all their benefits. Those who are just joining the workforce pool can’t file but they don’t have jobs either. The pool is growing larger but the number of jobs isn’t keeping pace. 15K new jobs or some such/month doesn’t really help when 30K people join the pool/month.
Don’t forget the record massive tragic debilitating injuries that occurred in December leading to record numbers of people going on disability.
But I just can’t remember what the nation-wide natural disaster or terrorist attack was that caused these massive debilitating injuries to so many Americans.
Oh, wait, yeah... Nov 2008, Nov 2012.
The sad part is that the BLS labor participation rate includes government jobs as well as private sector jobs.
IF we could plot labor participation rates for PRIVATE SECTOR ONLY, I suspect the charts would look even worse.
But we agree that a weak nation of dependent serfs would please our ‘betters’ far more than a strong nation of free men.
Watch the unemployment rate plummet as the cliff drops 3 million off the unemployed rolls. We could soon be at full employment! Great news comrades /s
data for 19 states was estimated...
let’s wait for january numbers, as retail temps are let go
Update: the BLS disclosed that it had to estimate the data for 19 states due to holiday office closures. Good enough for Ministry of Truth work.
I suspect the number employed may actually pick up in 2013 as more and more current employees are transitioned to “29ers” and additional “29ers” are hired to make up the hours.
RE: more and more current employees are transitioned to 29ers
Pardon my ignorance, but what on earth is a “29er”?
NBC News issues glowing jobless report by Bureau of Labor Statistics composed of estimates and projections from shuittered vacationing participating agencies.
I would like to see the figures on what percentage of working people hold two or more jobs now. It may be the highest in the history of the country. A lot of people who used to work one well paid full time job with overtime available are now working two or three part time jobs with low pay. I am supposedly retired and have worked two part time jobs a lot of the time lately. Now I am down to one gig as an independent contractor doing telephone work from my home. I feel very fortunate to be averaging about fifteen an hour doing that. Twenty years ago I wouldn’t have sat and watched TV for fifteen dollars an hour.
The “new normal” of Baraq. It’s a testimonial to how dumbed down the electorate is now that he won re-election.
You're absolutely correct.
Historically, the fascism/socialism comes first, followed by the Obamunism.
See y'all in the Gulag.
And its not just government jobs.
Obama communist borrowing and printing trillion$ of dollars to give to NOn-profits which produce NOTHING and are about the same as government jobs( are these non-profits including in private sector jobs? at least they are in the Jobs report but they are not really jobs just more socialist bs. then there are private government contractors. All these are included in the “Jobs” numbers . REAL private sector jobs not in universities, not in non-profits , not in government contractors are the worst ever as a % of population. The U.S. is becoming a welfare nation.
“lets wait for january numbers, as retail temps are let go
Bingo. My thoughts exactly. And as more people are dropped under the 29 hours a week.
Yep - just like consumer confidence was "oh so high" a while back and record sales were reported - only now they're saing that businesses are hurting and hoping like hell that folks spend some money after the holiday "rush/boom".
“The number of Americans filing new claims for unemployment aid fell last week to nearly its lowest level in 4 1/2 years, a sign that the labor market is healing. “
Or has hit bottom.
Or the department store Santas and cashiers hadn’t filed for unemployment yet, because they were still employed right before Christmas.
Or that NBC is full of pontificating jackasses.
“...of fundamentally transforming Amerika, comrade.”
No. Ameriqaa. As soon as all of Ameriqaa joins Dearborn, MI in Daar ulIslaam, they won’t need jobs. They can just loot the unbelievers before forcing them to convert.
My sister works on Wall Street. Her firm always TOTALLY discounts the UE numbers from two weeks prior to Thanksgiving thru the end of January of the next year ...
Seasonal employees [who will be let go after the new year] and people who just plain do not look for work HORRIBLY skew the numbers in this 10-week period ...
They will start to analyze the numbers at her firm beginning on Feb. 1st 2013.
It used to be that America stood for the best of everything. The best cars, the best achievements, the best opportunities. Now, “only” 350,000 jobless claims at a time when poverty is at a post war high is something to cheer about.
Well, that means all is fixed. The Muslin in the White House has done it! Now if those pesky RINOs would get out of the way. Move the debt ceiling to $25 trillion, tax the rich at 75%, everything would be hunky dory.
I would submit that more people are out of work right now, than have ever been out of work in the modern era in the U.S.
The fewer jobless claims number is worth about as much as the sweat off my nether regions, as it relates to the health of our national employment figures.
“...although companies still are adding to their payrolls at a lackluster pace.”
“...were unable to provide complete data for last week’s jobless claims. Data for 19 states was estimated..”
This pretty much says it all. We will just make up some numbers and throw them out there. Companies not hiring or cutting employee hours. People dropping out...
$1150 a month would just barely rent a two bedroom apartment here in the Phoenix area but apparently half the country is collecting this now.
ah,, the life of a govt worker....july 4th, labor day, probably Columbus day, Thanksgiving day and the day after, Christmas day, and New Years Eve and New years Day, MLK day, Presidents day, Memorial Day....did I get them all?
ve all had layoffs in the last few weeks....
I know new graduating nurses can't get jobs in the Portland hospitals....heard the same about Bellevue Washington...sure its the same in other places...
all my kids had sensible Christmasses.....no big items and no splurging....
there is an undercurrent of very bad economic activity....
have lazy phoney baloney inlaws collecting SSDI for a long time now...both of them....and they pretty large and at least one of them gets pretty good SSDI....don’t know why because she barely worked....she had one 15 yr stint on SSDI early on, then went off, and Poof.....she decided that work was, well, work...and back on to SSDI....
You invented two, but missed Veterans Day.