Jobless claims jump, but one-month average still lowest since 2000

Los Angeles Times ^ | 10/23/2014 | By JIM PUZZANGHERA

[SeekAndFind]

Initial jobless claims jumped last week from a post-Great Recession low, but the average during the previous month was the best since 2000 for the volatile but closely watched barometer of the labor market.

About 283,000 people filed for first-time unemployment benefits in the week ended Saturday, up 17,000 from the previous week's upwardly revised level, the Labor Department said Thursday.

Economists had forecast claims would rise to 285,000 after a sharp drop the previous week to the lowest point not only since the Great Recession but since April 2000.

Jobless claims can fluctuate widely from week to week.

So economists often focus on the less-volatile four-week average, which also has fallen to a new 14-year low.

There were an average of 281,000 new claims each week over the previous month, the fewest since May 2000, the Labor Department said.

The figure was down 3,000 from the prior week's rolling four-week level, which had been the previous 14-year best.

Economists said weekly claims below 300,000 signal moderate labor market growth.

[SeekAndFind]

Last week, the initial jobless claim figures were reported as 264,000.

Then, they say it is up by 17,000 this week. Which means last weeks jobless claims figures were revised upwards to 266,000.

Oh well... it's fun with Thursday job numbers once again...

[skeeter]

Expect them to revise this figures upwards again by 50,000 on November 5th.

[FlingWingFlyer]

So, I guess this means we’re going to see another “drop” in the “unemployment rate” again tomorrow. It’s magic!!!

[massmike]

Labor force participation rate
1980 - 2014
http://moonbattery.com/?p=51790#disqus_thread

[Iron Munro]

It would be higher but many have been out of work so long they have exhausted their unemployment benefits.
And most of those have never found new employment to rebuild their eligibility.

"Well - I did promise you CHANGE, didn't I?"

[Iron Munro]

Great chart.

Thanks for the link

[DoughtyOne]

This unemployment report is less honest than the street shell game. Which shell are the unemployed under. One, two, or three?

Well folks, they’re not under any of them.

Close to 25% of our workers are out of work, so they’ll never show up under a shell.

Only the millions getting unemployment checks count. And to address only them is a fraud.

Step right up madam, gentlemen, this is the only honest game in town...

Sure it is... (isn’t)

[Paine in the Neck]

BLS Data: Persons (16 and over) Not in Labor Force



92 million and rising. Don't believe the fake jobless number.

[reed13k]

roughly 28% or 1 of every 3.5 people in the country (not accounting for children, elderly, and the infirm).

If you account for the kids and such at about 30% of the population (~320M) then your at 41% or 1 of every 2.5 people.

Shocked we aren’t in full out riots already.