Posted on 01/08/2015 8:29:52 AM PST by SeekAndFind
WASHINGTON (Reuters) - The number of Americans filing new claims for unemployment benefits fell last week and job cuts declined sharply in December, suggesting the labor market is tightening.
Thursday's reports support views of faster growth this year, driven by consumer spending, despite a faltering global economy.
"Labor market conditions continue to improve, providing support for consumers and contributing to a virtuous cycle for the economy," said Jim Baird, chief investment officer at Plante Moran Financial Advisors in Kalamazoo, Michigan.
Initial claims for state unemployment benefits slipped by 4,000 to a seasonally adjusted 294,000 for the week ended Jan. 3, the Labor Department said.
While that was a bit less than Wall Street's expectations of a drop to 290,000, the trend in claims remained consistent with a steadily tightening labor market. At current levels, claims probably have little room to fall further.
"Claims have never dropped below the 280,000-290,000 range in the last 20 years, reflecting the reality that a certain number of layoffs is a natural part of the growth/lifecycle of companies even in the best of times," said Anthony Karydakis, chief economic strategist at Millar Tabak in New York.
(Excerpt) Read more at finance.yahoo.com ...
This whole country is becoming one big lie.
Usual and customary regime + MSM lies, spin, and BULLSHIIT!!!
Indeed Yahoo News via Reuters.
Business has laid off as many as possible by now without closing their doors.I
After a while, there just aren’t that many jobs to be laid off from. I don’t know how much the population has grown in 17 years, but I do know that the largest proportion of population not participating in the labor market is the highest it has been in 17 years. Combined with automation and the export of jobs to other countries, the declining labor force participation rate may exceed the rate of job creation, such that the number of jobs in absolute terms in the economy may be the lowest it has ever been. So then it would be now surprise that in absolute terms the number of layoffs in a year is lowest in 17 years, but the total number of jobs could also be the lowest in 17 years.
They redefined “jobless” to EXCLUDE the 92 MILLION no longer considered part of the workforce.
..and there’s ONLY 59 MILLION PEOPLE on one form of Social Security or another.
And when jobless claims rise after the holidays Rooters will suddenly be disinterested.
Yes, well, when you have drained most the blood from a deer, you notice the flow becomes slower.
Such is the effect of Obamanomics.
Hey, not all economists are homos!
Well considering the amount of jobs available to be laid off from, after 7 years of destroying jobs, why would you be happy the number of layoffs are so low...lol
That should be expected, because you must have a job to be laid off from it.
http://www.wsj.com/articles/mortimer-zuckerman-the-full-time-scandal-of-part-time-america-1405291652
Beware the magician behind the curtain, O liar, who is making part time jobs look like full time jobs and ignoring those no longer on the rolls of unemployment.
Also, how much do you think a part time worker laid off gets from unemployment, it’s a joke.
There are less people in the workforce than ever thus less people to layoff..the Obama math lol
well i know they juggle to make things look better than they are but think of this. Lower layoffs are a result of companies making due with fewer and fewer workers. Without new industries there won’t be more hiring. We could have zero layoffs and thats not necessarily a positive.
It easy to be less than 17 years ago. THERE ARE LESS JOBS NOW THAN BACK THEN to be laid off from idiots!!!!
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