Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Weekly Jobless Claims Drop Again, Stay Near 5-Year Low (324,000, down 18,000 from previous week)
NPR ^ | 05/02/2013 | Mark Memmott

Posted on 05/02/2013 7:14:00 AM PDT by SeekAndFind

There were 324,000 first-time claims for unemployment insurance last week, down 18,000 from the previous week's 342,000, the Employment and Training Administration reports.

Claims continue to run around the lowest pace since early 2008 — they haven't been lower since a week in mid-January 2008 when they came in at 321,000.

Bloomberg News writes that the drop indicates "companies are retaining staff even as the economy cools."

We'll learn much more about the labor market Friday, when the Bureau of Labor Statistics is due to release data on the April unemployment rate and job growth. Bloomberg says that economists expect to hear that a modest 145,000 jobs were added to payrolls and that the jobless rate held steady at 7.6 percent.

Update at 9:30 a.m. ET. Layoffs Down Too:

Also this morning, the outplacement firm Challenger, Gray & Christmas reported that in April, "job cuts fell to their lowest level since December, as U.S. employers announced plans to trim payrolls by 38,121. ... April job cuts were 23 percent lower than March, when announced layoffs totaled 49,255. They were 6.0 percent lower than the 40,559 planned job cuts announced in April 2012. April represents the lowest job-cut month since last December, when 32,556 were tracked by Challenger."


TOPICS: Business/Economy; Culture/Society; Front Page News
KEYWORDS: joblessclaims; jobs; unemployment

1 posted on 05/02/2013 7:14:00 AM PDT by SeekAndFind
[ Post Reply | Private Reply | View Replies]

To: SeekAndFind

It’s FUN WITH NUMBERS Thursday!!!


2 posted on 05/02/2013 7:14:41 AM PDT by FlingWingFlyer (I got expelled from the "fundamental transformation" indoctrination center.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

What happens when the pool of people who can be laid off dries up. There’s no one left to fire.


3 posted on 05/02/2013 7:16:18 AM PDT by nhwingut (This tagline is for lease)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

The real question is: How many this week left the unemployment force to join the disability force, so as to keep unemployment steady?


4 posted on 05/02/2013 7:16:42 AM PDT by C210N (When people fear government there is tyranny; when government fears people there is liberty)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

And how many have simply given up on finding a job and fallen right off the charts?

How many with higher education and/or years of high level experience are flipping burgers or mopping floors?

Don’t tell me the economy’s rebounding; I’ve seen what’s going on out there and it sucks big time.


5 posted on 05/02/2013 7:17:38 AM PDT by Jack Hammer (American)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

There should be a corresponding increase in job hires but that’s not being seen.


6 posted on 05/02/2013 7:20:44 AM PDT by AU72
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

When no one has a job left... then we will be at 100% employment... wait... what?????

LLS


7 posted on 05/02/2013 7:21:10 AM PDT by LibLieSlayer (FROM MY COLD, DEAD HANDS!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Jack Hammer

And how many have simply given up on finding a job and fallen right off the charts?

Isn’t it amazing how these lame asses can make the ones who have given up look good in the headline: Jobless Claims Fall?...These buttsheads think we all are low information voters? Ha!


8 posted on 05/02/2013 7:21:21 AM PDT by AngelesCrestHighway
[ Post Reply | Private Reply | To 5 | View Replies]

To: nhwingut
What happens when the pool of people who can be laid off dries up. There’s no one left to fire.

Exactly. If 10000 people have jobs and 1% get laid off, that is ten people. If only 8000 people have jobs and 1% get laid off, that is fewer people getting laid off (8), but, not an improvement.

9 posted on 05/02/2013 7:25:04 AM PDT by sportutegrl
[ Post Reply | Private Reply | To 3 | View Replies]

To: SeekAndFind

BUNK.

We have a large unemployed population.

That is not improving. What is happening is they are dropping off the unemployment rolls and onto various support groups.

We have a large unemployed population.

China by contrast has a very low unemployed population.

Odd how dramatically things have changed, in just two short decades.


10 posted on 05/02/2013 7:27:30 AM PDT by Cringing Negativism Network
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

What do you do when you’ve cut to the bone, and any more cutting means turning out the lights?

That’s where we are.


11 posted on 05/02/2013 7:28:00 AM PDT by Uncle Miltie (All observant Muslims want to kill you. If they don't, they are not really Muslims.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

Each week there are fewer people in the “looking for work” pool.

Many have starved to death or died of old age.

Yet Obama is still “focused like a laser” on job creation.

Why just last week while he was playing golf he had another job creation idea.

It was a warm day and he thought “they should hire more peons so I could have someone bring me a cool drink whenever I want.”

The man never takes a rest from thinking of ways he can help us.


12 posted on 05/02/2013 7:33:09 AM PDT by Iron Munro (Welcome to Obama-Land - EVERYTHING NOT FORBIDDEN IS COMPULSORY)
[ Post Reply | Private Reply | To 1 | View Replies]

To: FlingWingFlyer

Those who have run out of their 99 weeks of unemployment are not counted as unemployed. Who but the devious government would figure the rate this way?


13 posted on 05/02/2013 7:35:46 AM PDT by txrefugee
[ Post Reply | Private Reply | To 2 | View Replies]

To: SeekAndFind

The new normal.


14 posted on 05/02/2013 7:44:13 AM PDT by CSM (Keeper of the Dave Ramsey Ping list. FReepmail me if you want your beeber stuned.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

We are still not at the bottom of the down turn as we continue to layoff this many people every week. I think the reason for the lower numbers is for several reasons.

1. Many people are dropping out of the job market so they are not being laid off again and again, creating new claims.

2. Claims are also annual based so many layoffs are not reported in this figure. Let me explain: A person gets laid off from a salary job. Their claim is open for 1 year. So, if they take another job then get laid off again within that year there isn’t an additional claim reported. Many employers also know this and lay people off using this timeline so the claim doesn’t go against them.

3. States are backlogged and not reporting those trying to open a claim but the system is clogged and claims are taking as long as 90 days or more to open.

4. Not sure on this one, but many full time jobs are now part time. Many salary employee jobs have been converted to contractor/hourly. I suspect somewhere in those UI numbers that is a benefit to reporting a lower number of unemployed.


15 posted on 05/02/2013 7:56:59 AM PDT by CodeToad (Liberals are bloodsucking ticks. We need to light the matchstick to burn them off.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

So, over a quarter of a million new jobless people entered the rolls? Am understanding that right? So, Obamasan has cured all ills, yet we have over 300,000 new people on the welfare rolls.


16 posted on 05/02/2013 8:08:29 AM PDT by RetiredArmy (1 Cor 15: 50-54 & 1 Thess 4: 13-17. That about covers it.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: C210N

Amazing that these people so easily get disability and I have been in a fight with VA for over 20 regarding my disability for wounds and injuries while on active duty. In the 1990s it took me over 5 years of appeals to get disability. I have recently started a new round of arguments and probably appeals on disability on my back, which the VA says I have no back problems, yet two back surgeries and spinal fusion with posts and hardware inserted into my back, nothing is wrong according to them. The beat goes on.


17 posted on 05/02/2013 8:11:16 AM PDT by RetiredArmy (1 Cor 15: 50-54 & 1 Thess 4: 13-17. That about covers it.)
[ Post Reply | Private Reply | To 4 | View Replies]

To: SeekAndFind
don't
believe
a
word
of
it
!
18 posted on 05/02/2013 8:12:28 AM PDT by tomkat
[ Post Reply | Private Reply | To 1 | View Replies]

To: RetiredArmy

RE: So, over a quarter of a million new jobless people entered the rolls?

This is of course, just one side of the equation, it has to be balanced out in the net by the number of people being HIRED.

The net comes out positive of course.

ADP just announced 119,000 private sector jobs created last April (pathetic but still positive).

See here:

http://www.latimes.com/business/money/la-fi-mo-jobs-adp-economy-unemployment-20130501,0,4408183.story


19 posted on 05/02/2013 8:12:34 AM PDT by SeekAndFind
[ Post Reply | Private Reply | To 16 | View Replies]

To: RetiredArmy
We may, of course, assume that you (a) are of the caucasion persuasion, and (b) look as though you can add four digits w/o a calculator ? !

That'll be explaining it, then.


Thank you for your service, and healing thoughts re your back.

20 posted on 05/02/2013 8:17:30 AM PDT by tomkat
[ Post Reply | Private Reply | To 17 | View Replies]

To: Uncle Miltie

Thats where I was in Jan. Now my lights are out.May revive it in a kinda under ground fashion.


21 posted on 05/02/2013 8:21:21 AM PDT by sopwith (don't tread on me)
[ Post Reply | Private Reply | To 11 | View Replies]

To: RetiredArmy
Not unusual. There is a tremendous amount of churn in the labor force. Thousands of people are hired and fired each week. Here's the historical chart for initial claims (4-week moving average to smooth the weekly fluctuations). The rate we are seeing now 342,500 is relatively low compared to history. Economists consider anything below 400K to be positive job growth territory.


22 posted on 05/02/2013 8:25:46 AM PDT by Wyatt's Torch (I can explain it to you. I can't understand it for you.)
[ Post Reply | Private Reply | To 16 | View Replies]

To: SeekAndFind

More good news comrades - the chocolate ration had been increased to 20 grams,


23 posted on 05/02/2013 8:56:38 AM PDT by DManA
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

everyone is on disability.


24 posted on 05/02/2013 9:16:50 AM PDT by JohnBrowdie (http://forum.stink-eye.net)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

If they’re dropping out, then they’re not filing claims, and if they’re dropping out, then they’re not counted in the Unemployment numbers.

Hopefully, we can get everyone to drop out and get the unemployment rate down to zero.

It’s a great statistic where no one working equals zero unemployment! I love this country!


25 posted on 05/02/2013 9:17:04 AM PDT by xzins (Retired Army Chaplain and Proud of It! True supporters of our troops pray for their victory!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

Who’s on first....


26 posted on 05/02/2013 9:47:53 AM PDT by Vaduz
[ Post Reply | Private Reply | To 1 | View Replies]

To: txrefugee
Those who have run out of their 99 weeks of unemployment are not counted as unemployed.

Incorrect.

27 posted on 05/02/2013 10:15:54 AM PDT by 1rudeboy
[ Post Reply | Private Reply | To 13 | View Replies]

To: sportutegrl

“If 10000 people have jobs and 1% get laid off, that is ten people.”

10000 * 0.01 = 100


28 posted on 05/02/2013 10:24:49 AM PDT by dsrtsage (One half of all people have below average IQ. In the US the number is 54%)
[ Post Reply | Private Reply | To 9 | View Replies]

To: dsrtsage
whoops.
29 posted on 05/02/2013 10:53:37 AM PDT by sportutegrl
[ Post Reply | Private Reply | To 28 | View Replies]

To: SeekAndFind

Nobody who pays attention to this kind of stuff believes any of it.


30 posted on 05/02/2013 2:28:57 PM PDT by VerySadAmerican
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

Waiting for the “revised and adjusted” number....there always is one and it’s always worse news.


31 posted on 05/03/2013 1:26:50 AM PDT by tina07 (In loving memory of my father,WWII Vet. CBI 10/16/42-12/17/45, d. 11/1/85)
[ Post Reply | Private Reply | To 1 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson