Posted on 08/01/2013 7:40:10 AM PDT by traumer
The number of Americans filing new claims for unemployment benefits fell unexpectedly last week, touching a 5-1/2 year low, suggesting a steadily improving labor market.
Initial claims for state unemployment benefits dropped 19,000 to a seasonally adjusted 326,000, the lowest level since January 2008, the Labor Department said on Thursday.
Economists polled by Reuters had expected first-time applications to rise to 345,000 last week.
While claims are extremely volatile in July because of summer auto plant shutdowns, the general tone of the report remained consistent with a pick-up in job gains.
The four-week moving average for new claims, which irons out week-to-week volatility, fell 4,500 to 341,250.
"This suggests the labor market is still expanding. There is no sign that it's slowing. It might actually be picking up a bit," said David Sloan, senior economist at 4Cast Inc. in New York
(Excerpt) Read more at reuters.com ...
‘fell unexpectedly’
Maybe more people are settling into welfare and working under the table.
I’m sure the only employment statistic that matters, the Labor Force Participation Rate, is still bouncing along at forty-year lows. This week to week statistical mumbo jumbo is just noise.
Another phony scandal?
Phony
Funny thing about how they count unemployment now, if nobody had a job, and could not find one for years we would have a 0 jobless rate.
Plus, Obama promised new jobs, so with Obama care as companies lay off full time employees to bypass benefits and hire two part timers to take their place the net gain is one job!
According to the way it was counted back a few presidents ago, we now have a 14% jobless rate. This pack of thieves in Congress and their illegal President is a growing disaster.
More unemployment benefits are exhausted.
Everyone’s employed - part-time.
If you believe Al-Reuters, I’ve got a bridge in Brooklyn I’m selling.....
One little, two little, three little jobs for me, one little two little, three little jobs for me, one little, two little, three little jobs for me, and none of them pay the bills.
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