Posted on 02/06/2014 6:40:10 AM PST by mykroar
The number of Americans filing new claims for unemployment benefits fell more than expected last week, in a boost to the labor market outlook and the broader economy.
Initial claims for state unemployment benefits declined 20,000 to a seasonally adjusted 331,000, the Labor Department said on Thursday. Claims for the prior week were revised to show 3,000 more applications received than previously reported.
Economists polled by Reuters had forecast first-time applications for jobless benefits falling to 335,000 in the week ended Feb. 1.
The four-week moving average for new claims, considered a better measure of underlying labor market conditions as it irons out week-to-week volatility, nudged up 250 to 334,000.
(Excerpt) Read more at foxbusiness.com ...
Keeping it real.
“Firming” in this instance means that the mud which has entrapped our boots is beginning to harden.
So 350 thousand people get laid off every week and they find a way to say it’s good news. Fascinating.
It used to be SOP to up the previous weekly figure by 1000.
Then, 2000.
Now, 3000.
Fun-with-numbers from the BLS continues.
December showed 74,000 new jobs.
January showed 185,000 new jobs.
But the WEEKLY new claims averaged 334,000 [per week] and the UE stayed at 6.7%.
“January showed 185,000 new jobs.”
Wasn’t aware that figure had been published.
We lose 350,000 jobs per week but gain 175,000 part-time jobs, yet, the jobless rate falls. Nothing but communist propaganda.
The fact that there isn’t a single Republican out there talking about this shows they are in on it.
Here is my dumb question of the day:
When the filed monthly unemployment claims exceed the number of newly created jobs, how can that data suggest that the labor market is improving or that these data provide a boost to the broader economy?
So the fact that labor force participation is at a 40 year low doesn’t play into this? I guess if everyone gives up looking for work, the labor market would be really “firm.”
How long will the media try to keep this ‘economy improving’ farce going? No one buys it.
So if everyone were unemployed then the number of new jobless claims would be zero. Does anyone really buy-in to the propaganda?
That was the ADP report yesterday. Tomorrow is the official report.
This is what they always do. The should just write the fraudulent story then at the bottom write “In our next report we will correct this report.”
It’s even better when they drop out of the work force.
From cnbc.com
U.S. stocks advanced after applications for jobless benefits fell, casting a positive light on the labor market and the U.S. economy the day before the government releases its monthly jobs report.
“If you look at U.S. markets in the last week or two, it’s really not justifiable based on U.S. fundamentals,” David Kelly, chief market strategist, J.P. Morgan Funds, said of the declines that have the S&P 500 on track for a fourth weekly loss.
“Claims coming down is part of that story, it suggests again that maybe the economic story is just fine in the U.S., we’ll find out tomorrow,” Kelly added of the nonfarm payrolls report for January.
Per today’s WSJ, percent of 25-54 males “not in the workforce” has tripled since the 1970s.
The US is well on the way to Eurosocialist numbers.
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