Posted on 05/23/2013 8:56:38 AM PDT by SeekAndFind
Initial unemployment claims dropped back to a level indicating moderate job growth last week after a spike the previous week raised alarms about the labor market recovery.
The number of people filing for unemployment benefits for the first time stood at 340,000 for the week ending Saturday, falling from a revised 363,000 the week before, the Labor Department said Thursday.
Economists had expected the closely watched jobless claims figure to drop last week to 345,0000.
Claims for the week ending May 11, which were revised up from 360,000, had the biggest one-week jump since last fall and were the most since March.
The jump surprised analysts after steady improvement had brought the number of claims below 330,000 for the first time since early 2008, when the Great Recession had just begun.
Economists say jobless claims less than 350,000 a week indicate a moderately growing labor market.
(Excerpt) Read more at latimes.com ...
And let me pre-empt everyone by saying... UNEXPECTED !!!
First, the “Initial.” Later, the “Unexpected.”
Rinse and repeat.
It’s becoming more and more difficult to find meaning in any of these stories. Expected 350,000, then it was actually 360,000, revised to 363,000, which makes 340,000 a drop, when the number is 345,000 next week, that’ll be a drop because this week’s number will be revised to 350,000.
Lost in all this number gymnastics is the fact that these are NEW claims of unemployment.
Lost in all this number gymnastics is the fact that these are NEW claims of unemployment.”
My college aged grandson has summer employment but it’s with three different companies and each just a few hours a week. Some of his friends who just graduated have not been as fortunate and after filling out applications are told “maybe in September”.
As I understand the way the statistics are being maintained now, his three part-time jobs means that the government will count this as an increase of 3 jobs created.
Funny, nobody heard about the spike till the numbers went down from the spike.
“Hey, you know what would help?
Let’s bring in several million illegal aliens!”
~Traitors in the US Senate
Please contact your Congressman or woman and tell them to vote against the vile Amnesty Bill!
Whether it is 340K or 360K it doesn’t matter — it is still a large number EVERY WEEK.
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