The Economy Line: Falling Unemployment Claims

George W. Bush ^ | September 10, 2004

[RWR8189]

Biggest Drop In Unemployment Claims Since December 2001.  "Far fewer Americans than expected applied for first-time unemployment benefits last week as the effects of Hurricane Charley faded, the Labor Department reported Thursday. ...  Initial claims for unemployment benefits dropped 44,000, to 319,000, in the week ended Saturday from a revised 363,000 the week before. It was the steepest weekly decline since a plunge of 77,000 in December 2001, three months after the terrorist attacks."  ("Jobless Claims Drop," Reuters, 9/10/04)

More Evidence Inflation Is Under Control. "U.S. producer prices unexpectedly declined last month, reflecting cheaper cars, computers and gasoline, a government report showed.  The 0.1 percent decrease in the measure of prices paid to factories, farmers and other producers followed a 0.1 percent rise in July, the Labor Department said in Washington. The core rate, which excludes food and energy, also fell 0.1 percent, the first drop since February, after rising 0.1 percent."  ("U.S. August Producer Prices Fall 0.1%; Core Rate Falls 0.1%," Bloomberg, 9/10/04)

Trade Deficit Narrows.  "The U.S. trade deficit narrowed in July from the prior month's record as exports rose and a decline in oil shipments contributed to the first drop in imports in 11 months, the Commerce Department said in Washington."  ("U.S. Trade Deficit Narrowed to $50.1 Bln in July; Exports Rose," Bloomberg, 9/10/04)

[pfflier]

Dammit, I keep telling you that the poor oppressed workers have just given up getting a job and have moved into boxes under the nearest bridge.

Things can't be getting better, Pelosi, Hitlery, Dashole, Blather Rather, Jabba the Moore, Babling Babs Streisand, ABCNBCCBSCNN and skerry Kerry can't be wroong....can they???

[sixmil]

Looks like 1 in 3 to me. Inflation is under control because it has to be or you tank the economy. Unemployment is down because some people gave up looking again. Wait, you'll see - we'll have another one of those months where jobless claims go down while unemployment goes up. The neocons will scratch their heads and look for the household report again like they they did earlier this year. And the trade deficit - please. Oh wait, that only matters when it goes down...

[FITZ]

Inflation is under control because it has to be or you tank the economy.

I think the only thing that actually helps inflation strangely enough is that as fast as the government is creating new money, it's being shipped out to Mexico. We've basically become the mint for that entire country --- money isn't based on anything anymore anyhow.

[Joe Hadenuf]

I think the only thing that actually helps inflation strangely enough is that as fast as the government is creating new money, it's being shipped out to Mexico. We've basically become the mint for that entire country

What you said.

[sixmil]

I think you are on to something there. For example, if oil gets denominated in Euros, I would suspect there would be less overall demand for US currency since the international demand would be down. That would mean they would have to slow down the presses to avoid inflation. We have gotten by being the international currency, but just like with our industry, other countries will try to cut back at that. And the way we have given up local market share in exchange for the hope of gaining international market share, who knows, maybe we will even give up on our currency as well.