Posted on 08/29/2013 6:32:20 AM PDT by SeekAndFind
First-time claims for U.S. unemployment benefits showed a modest decrease in the week ended August 24th, according to a report released by the Labor Department on Thursday.
The report said initial jobless claims edged down to 331,000, a decrease of 6,000 from the previous week's revised figure of 337,000.
The modest drop came roughly in line with the expectations of economists, who expected jobless claims to dip to 330,000 from the 336,000 originally reported for the previous week.
Despite the modest pullback, however, jobless claims remain above the five-year low of 322,000 set in the week ended August 10th.
The Labor Department also said the less volatile four-week moving average inched up to 331,250, an increase of 750 from the previous week's unrevised average of 330,500.
The four-week moving average recorded for the previous week was the lowest since November of 2007.
Meanwhile, the report also showed that continuing claims, a reading on the number of people receiving ongoing unemployment assistance, fell to 2.989 million in the week ended August 17th from the preceding week's revised level of 3.003 million.
The four-week moving average of continuing claims rose to 2,996,250, an increase of 9,500 from the preceding week's revised average of 2,986,750.
Next Friday, the Labor Department is scheduled to release is closely watched monthly report on the employment situation.
(Excerpt) Read more at rttnews.com ...
Expected or Unexpected?
Modest, edged, in line with expectations, promising trend, hopeful recovery trend, unexpected temporary decline/increase due to (pick your own BS excuse), nudged upward/downward, ‘seasonally adjusted’ are up/down, umpty month/year averages show...., short-term averages show..... and blah blah blah effity blah blah.....
All words that from the biggest, most foul smelling pile of steaming, still-warm horseshit that ever hit the wires.
There is nobody left to layoff.
The actual number of employed and the shrinking pool the Obama government considers actively looking for work get smaller and smaller making it harder and harder to manipulate the figures.
But they keep trying.
It will be 'revised up' by 10,000 next week.............
Wait til the fast fooders get their $15/hr min wage.
Then you’ll see some serious unemployment....
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