Posted on 07/09/2015 12:30:28 PM PDT by SeekAndFind
WASHINGTON (Reuters) - New applications for U.S. unemployment insurance benefits rose last week to their highest level since February, suggesting some slowdown in the labor market recovery.
Initial claims for state unemployment benefits rose 15,000 to a seasonally adjusted 297,000 for the week that ended July 4, the U.S. Department of Labor said on Thursday.
Even with the rise in claims, the latest report marks the 18th consecutive week of new filings below 300,000, which is considered consistent with a firming labor market.
The previous week's claims were revised to 282,000, showing that 1,000 more people filed than initially reported.
Economists polled by Reuters had expected new applications to fall to 275,000 last week.
The four-week moving average of claims, which smoothes out week-to-week fluctuations and is therefore considered a better gauge of the labor market, rose 4,500 to 279,500 last week.
(Excerpt) Read more at news.yahoo.com ...
*DRINK* :)
“Even with the rise in claims, the latest report marks the 18th consecutive week of new filings below 300,000, which is considered consistent with a firming labor market.”
Uh huh. At least they didn’t blame the cold weather for it.
Just wait till next year when all of Omama’s minions start looking for jobs. They will be too busy planning their future to worry about massaging the numbers.
Things tend to get a little sloppy in a presidential election year...particularly when the incumbent is leaving office. Obama’s people have been working overtime juggling the balls of deceit. Next year some of the balls will be dropped as some of the rats start to jump ship.
There is cold weather in the southern hemisphere ... so they could blame cold weather if they wanted .. it would make as much sense as when they did it before.
“Even with the rise in claims, the latest report marks the 18th consecutive week of new filings below 300,000”
No worries it will be adjusted up next week.
I might be, ‘mis-remembering’ but when President Bush was in office and our Unemployment Rate was 4.5% and the LefTards couldn’t get it any HIGHER, they kept screaming that we needed 450,000 NEW JOBS PER MONTH to ‘recover’ from that imaginary awful economy.
And didn’t Crazy Uncle Joe promise us 500,000 new jobs a month, when campaigning? Or was it 1 million? LOL!
Oy! They think we’re so stupid...
Well, uncle joe along with the kenyan dictator has provided at least 250,000 new jobs a month on the average; for illegals and H1Bs.
There actually are many many jobs available here in the midwest.
Almost all are <20 hrs / week and <$9 / hour.
That’s the “new normal” in the era of Baraq.
Yet another Recovery Summer!
No cold weather, however the Impending Rising Seas due to Globull Warning are causing businesses to reconsider their long term infrastructure Investments.
so “recovery slowdown” is the new term for the economic event formerly know as a recession.
thanks, obama!
:-(
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