Jobless Claims Drop for Third Straight Week

FoxBusiness.com ^ | 3/14/2013 | Reuters

[mykroar]

The number of Americans filing new claims for unemployment benefits unexpectedly fell week, the latest indication the labor market recovery was gaining traction.

Initial claims for state unemployment benefits dropped 10,000 to a seasonally adjusted 332,000, the Labor Department said on Thursday. That was the third straight week of declines.

The prior week's claims figure was revised to show 2,000 more applications than previously reported.

Economists polled by Reuters had expected first-time applications last week to rise to 350,000.

Read more: http://www.foxbusiness.com/economy/2013/03/14/jobless-claims-labor-department-unemployment-insurance/#ixzz2NWEw2gn4

[mykroar]

I'll wait for the posts a bit later detailing why this is all smoke and mirrors. At least we revised last week up again - I'd have been worried if we didn't.

[JaguarXKE]

I fail to see why the number of NEW unemployment claims falling a little bit is something to get all excited about!

[The Sons of Liberty]

I guess sequestration sidelined a bunch of the people that count the jobless, and voila! unemployment dropped (Unexpectedly, of course).

/sarc

[shelterguy]

Since hussein came around the number of people filing new claims has been about 350-400,000 per week. At some point the number has to drop because companies have shed millions of jobs.

The actual unemployment rate number is an absolute joke meant to fool the ignorant and gullible.

[mykroar]

Well, the article does point out: “
Though layoffs have ebbed, sluggish domestic demand has made companies cautious about ramping up hiring.” So there’s no hiring, but new claims have gone down.

[airborne]

The actual unemployment rate number is an absolute joke meant to fool the ignorant and gullible vast majority of voters.

There, fixed it.

[stylin19a]

I don't understand why this admin doesn't use UA data...makes things seem even better

The advance number of actual initial claims under state programs, unadjusted, totaled 315,356 in the week ending March 9, a decrease of 20,324 from the previous week.

[SoFloFreeper]

I am going to pee my pants, this is such great news....Obama is leading us into a new age of prosperity!

Question: how was this level of unemployment reported when BUSH was in the White House?