US weekly jobless claims total 281,000 vs 285,000 estimate

CNBC ^ | 07/16/2015

[SeekAndFind]

The number of Americans filing new applications for unemployment benefits fell more than expected last week, pointing to a solid labor market.

Initial claims for state unemployment benefits dropped 15,000 to a seasonally adjusted 281,000 for the week ended July 11, the Labor Department said on Thursday. The decline reversed the prior week's rise and ended three straight weeks of increases.

Claims tend to be volatile during the summer when automakers normally shut assembly plants for annual retooling. However, some of the companies keep production running, which can throw off a model the government uses to smooth the data for seasonal fluctuations.

A Labor Department analyst said there were no special factors influencing the data and no states had been estimated.

The four-week moving average of claims, considered a better measure of labor market trends as it irons out week-to-week volatility, increased 3,250 to 282,500 last week.

[SeekAndFind]

It's fun with Thursday jobs numbers once again...

[kallisti]

Bolshoi.

[molson209]

US weekly jobless claims are like Obama’s Birth Certificate

[Don Corleone]

The number of Americans filing new applications for unemployment benefits fell more than expected last week, pointing to a solid labor market.

Barbra Striesand. Its not even keeping up with the population growth.

[Kharis13]

Woo hoo! This is it! It’s finally here! No more waiting!

Recovery Summer!

[Road Warrior ‘04]

They’ll adjust upward by next weeks report. It’s all bullshit anyway!

[wku man]

So according to government numbers -- if you believe them -- the economy added 223K jobs last month, but lost 281K jobs last week alone, and the so-called "unemployment rate" is supposed to be dropping?

Meanwhile, here in Realville USA, I see lots of former business locations sitting empty, some for going on four, five, six years now.

Scouts Out! Cavalry Ho!

[SeekAndFind]

RE: So according to government numbers — if you believe them — the economy added 223K jobs last month, but lost 281K jobs last week alone,

I think the 223,000 jobs last month is NET ( total jobs added MINUS total jobs lost ).

[Sam Gamgee]

I am curious what Freepers think of the economy. Is it in recession? I ask because the official word here in Canada today is that Canada has likely been in recession for all of 2015, despite the fact the US is in recovery. I doubt and question the assertion that the US is not in a recession.

[SeekAndFind]

A recession is officially defined as two consecutive quarters of NEGATIVE GDP growth.

The US GDP CONTRACTED at -0.7% for the first quarter of this year.

See here:

http://blogs.wsj.com/briefly/2015/05/29/why-u-s-gdp-shrank-at-a-glance/

It remains to be seen what the second quarter would be like.

Keep in mind that they always REVISE the GDP of the PREVIOUS quarter a few months later has the economic data becomes clearer.

[Iron Munro]

They will revise it upward next week.

[Sam Gamgee]

Of course they focus on simple GDP overall growth (after inflation) but not per capita?

[wku man]

So the economy is creating roughly 1.5 million jobs gross per month? That seems really, REALLY high. Of course, if they're counting part-time and temporary jobs, like they did with the "stimulus", then that makes sense.

Scouts Out! Cavalry Ho!

[Kickass Conservative]

I think these are the Numbers you are looking for if in fact the reported increase was a Net Number:

223,000 added plus 281,000 lost = 503,000 TOTAL Jobs added, not 1.5 Million.

Of course, if that 223,000 is a Gross Number, then the Obama Administration is FOS as usual.

Heck, I think I’m confusing myself. LOL

[wku man]

If we added 223K jobs for the month, but lost 281K jobs in one week, we'd be at a deficit right off the bat, without taking the other three weeks into account. I'm no economist, and I've always sucked at math, but I'm not sure the numbers add up for anyone. They just throw those numbers out there because they know We The Sheeple won't even give it a second thought. As long as there's beer in the fridge and gas in the ATV, who cares?

Scouts Out! Cavalry Ho!

[Kickass Conservative]

Right you are my FRiend.