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Weekly Jobless Claims Fall More Than Expected
FoxBusiness.com ^ | 2/28/2013 | Reuters

Posted on 02/28/2013 6:08:49 AM PST by mykroar

The number of Americans filing new claims for unemployment benefits fell more than expected last week, suggesting some traction in the labor market recovery.

Initial claims for state unemployment benefits dropped 22,000 to a seasonally adjusted 344,000, the Labor Department said on Thursday. The prior week's claims figure was revised to show 4,000 more applications received than previously reported.

Economists polled by Reuters had expected first-time applications to fall to 360,000.

Claims have seen large swings in recent months because of difficulties smoothing the data for seasonal fluctuations, making it hard to get a clear pulse of the labor market's health.

(Excerpt) Read more at foxbusiness.com ...


TOPICS: Business/Economy; Front Page News; Government; News/Current Events
KEYWORDS: disability; employment; jobless; notlooking4jobnomore; unemployment; unexpected
Imagine how bad things would be if the economy wasn't fixed. /sarc
1 posted on 02/28/2013 6:09:05 AM PST by mykroar
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To: mykroar

344,000 Americans out of work....Wait until Mid-April when 880,000 Federal Workers request unemployment to make up for the day they lose every week. Now you guys will really see some unemployment numbers!!!!!


2 posted on 02/28/2013 6:11:20 AM PST by napscoordinator
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To: mykroar; jiggyboy

“The prior week’s claims figure was revised to show 4,000 MORE applications received than previously reported.”

Unexpected! *DRINK* :)


3 posted on 02/28/2013 6:12:10 AM PST by Diana in Wisconsin (I don't have 'Hobbies.' I'm developing a robust Post-Apocalyptic skill set...)
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To: mykroar

The corrections to this number will not be published though.


4 posted on 02/28/2013 6:12:11 AM PST by mountainlion (Live well for those that did not make it back.)
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To: mykroar

http://www.zerohedge.com/news/2013-02-28/emergency-claims-jump-85-initial-claims-continue-sideways-crawl

Extended Claims Jump 8.5% As Initial Claims Continue Sideways Crawl


5 posted on 02/28/2013 6:15:52 AM PST by ltc8k6
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To: ltc8k6
How dare you doubt the unimpeachable numbers being released by the Administration.

:o)

6 posted on 02/28/2013 6:17:58 AM PST by mykroar (Sig is pending a Conservative party.)
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To: mountainlion
The corrections to this number will not be published though.

The prior week's claims figure was revised to show 4,000 more applications received than previously reported.

7 posted on 02/28/2013 6:19:11 AM PST by 1rudeboy
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To: mykroar

Here’s where all this good news is heading....

http://www.youtube.com/watch?v=ptQS2h5zwyM


8 posted on 02/28/2013 6:19:22 AM PST by gotribe (Limit The Government's Right To Bear Arms)
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To: mykroar

And, which of the heavily debt-ridden states are among those that had to be “estimated” or left out?


9 posted on 02/28/2013 6:20:10 AM PST by Cletus.D.Yokel (*Catastrophic Anthropogenic Climate Alteration: The acronym explains the science.)
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To: mykroar

IIRC, last Monday was a Federal holiday. Many states (including state UE offices) also observe Presidents’ Day.

And there was that big snowstorm.

And the Oscars.

==

I see their ‘revised up’ number has increased. Last year, it was typically 2,000 week after week. This report upped it to 4,000.


10 posted on 02/28/2013 6:29:51 AM PST by TomGuy
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To: napscoordinator

Federal employees can’t collect unemployment because they are only unemployed for one day a week.


11 posted on 02/28/2013 6:31:11 AM PST by USNBandit (sarcasm engaged at all times)
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To: mykroar
Wasn't President's Day a week ago Monday, on the 18th?!

The unemployment offices were closed, were they not?

It was a 4-day week.

12 posted on 02/28/2013 6:33:13 AM PST by mellow velo (Oxymorons: jumbo shrimp, rap music, liberal think-tank)
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To: mykroar

“than expected”
They get the expectations wrong every time. Isn’t it time to stop predicting what they don’t know how to predict?


13 posted on 02/28/2013 6:39:23 AM PST by I want the USA back
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To: mellow velo

It seems that every week a federal holiday is involved the jobless claims number falls.


14 posted on 02/28/2013 6:39:23 AM PST by Rational Thought
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To: mykroar


15 posted on 02/28/2013 6:42:04 AM PST by Iron Munro (I miss America, don't you?)
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To: USNBandit

Yes you can in Maryland. I called and asked.


16 posted on 02/28/2013 6:42:17 AM PST by napscoordinator
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To: napscoordinator

My office was told you had to be unemployed for a week, but I live in WA. We are looking at one day per pay period which is better than a lot of agencies. No weekends or nights and an 80% cut in our operating budget.


17 posted on 02/28/2013 6:58:16 AM PST by USNBandit (sarcasm engaged at all times)
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To: TomGuy
IIRC, last Monday was a Federal holiday. Many states (including state UE offices) also observe Presidents’ Day.

This is the correct interpretation of the drop in numbers. Many unemployed file via the internet, and a holiday impacts the ability of the unemployment offices to process them. Unprocessed filings are not counted.

18 posted on 02/28/2013 7:18:35 AM PST by aimhigh ( Guns do not kill people. Abortion kills people.)
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To: USNBandit

We are looking at one day per pay period which is better than a lot of agencies. No weekends or nights and an 80% cut in our operating budget.

We are having 2 days a payperiod and the rest is the same.


19 posted on 02/28/2013 7:41:33 AM PST by napscoordinator
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To: mykroar
Claims have seen large swings in recent months because of difficulties smoothing the data for seasonal fluctuations

Smoothing? So that's what they're calling the lies these days.

20 posted on 02/28/2013 7:55:04 AM PST by bgill
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To: mykroar

Has anyone corrected these unemployment numbers to determine what percentage of the actual working population is being laid off at this time? If there are 10% less people working today than there were four years ago, even a reduction in the reported number of newly-unemployed today (which will be revised upward later) could be indicating a worse labor market than a higher number reported in the past.


21 posted on 02/28/2013 10:52:47 AM PST by PTBAA
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To: PTBAA

Check JOLTS data...

CA....


22 posted on 02/28/2013 11:27:49 AM PST by Chances Are (Seems I've found that silly grin again....)
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To: USNBandit

The last time there were ‘furlough’ days, when the budget was settled, ALL the missing money was paid back to the Federal employees. They lost nothing.


23 posted on 02/28/2013 1:47:32 PM PST by ridesthemiles
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To: ridesthemiles

The difference is that most employees got a retroactive paid vacation. Essential employees got paid late for work they did. Some old guys in my office said they never got the overtime they worked during the nopay period.


24 posted on 02/28/2013 2:36:22 PM PST by USNBandit (sarcasm engaged at all times)
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To: mykroar

I suspect we’ll see unemployment trending down as more employees are converted to “29ers” and more “29ers” are hired to pick up the slack.


25 posted on 02/28/2013 2:38:50 PM PST by nascarnation (Baraq's economic policy: trickle up poverty)
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