Jobless Claims Decline Sharply Last Week

Associated Press Jobless Claims Decline Sharply Last Week Thursday October 7, 2:20 pm ET By Jeannine Aversa, Associated Press Writer Jobless Claims Drop Sharply, Offering Sign That Job Market Recovery May Be Gaining Steam

WASHINGTON (AP) -- The number of new applications filed last week for unemployment benefits fell sharply, offering a hopeful sign that the recovery in the job market may be gaining some steam. The Labor Department reported Thursday that the number of new people signing up for unemployment insurance benefits dropped by a seasonally adjusted 37,000 to 335,000, the lowest level since the beginning of September. In the prior three weeks, claims had gone up.

The latest snapshot of the layoffs climate was better than economists were expecting. They were expecting claims to decline to around 355,000.

Claims had risen recently in part because of the impact of hurricanes that pummeled Florida and elsewhere, wreaking damage and disrupting commerce.

The more stable, four-week moving average of claims, which smooths out week-to-week fluctuations, rose by 4,250 last week to 348,500. That compares with 394,250 a year ago -- showing improvement has been seen over the past year.

The number of people continuing to draw unemployment benefits declined by 1,000 to 2.86 million for the week ending Sept. 25, the most recent period for which that information is available. A year ago, the number stood at 3.57 million.

The Federal Reserve, citing some improvements in the economy, boosted short-term interest rates for a third time this year in September. Many analysts expect the Fed will increase rates again at its next meeting in November. A few, however, believe the Fed might take a pass in November and raise rates in December, the last meeting of the year.

Sandra Pianalto, president and the Federal Reserve Bank of Cleveland and a member of the Federal Open Market Committee -- the group that sets interest rate policy in the United States -- in remarks Thursday said it is still not clear when the labor market will get back to full throttle.

"As the unemployment data arrives over the next several months, we may very well see the job numbers snap back if confidence in our economy is restored, economies around the world strengthen and energy prices stabilize," Pianalto said. "But it may turn out that the process of job expansion will take more time to gain momentum."

President Bush and his Democratic opponent, John Kerry, paint very different pictures about how the economy and the labor market are faring as they try to woo voters with Election Day just a few weeks away.

Many economists are forecasting a net gain of around 150,000 jobs for September, which would mark a bit of an improvement over the 144,000 jobs added in August. The nation's unemployment rate is expected to hold steady at 5.4 percent.

Even though payrolls have grown by 1.7 million in the last 12 months, the economy is still down by a net 913,000 jobs since Bush took office.

The government releases the employment report for September on Friday. The jobs report, the last to be issued before the Nov. 2 elections, will be closely watched by the presidential campaigns, economists and Fed Chairman Alan Greenspan and his Fed colleagues.

"Payroll records, offset by 2 million new self-employed per Roger Hedgecock on Rush this morning...."

Sounds like political spin. 2 million self-employed is it? Interesting. Is there any more information about these 2 million new businesses? I'd really like to know because my computer job is gone for ever. I am SOL up the creek wo a paddle and Bush don't give a damn. He's well fed and will never have to worry about feeding his funny face. I do. I favor Bush's foreign policy, domestically he seems cruel and heartless, like Regan, under whom a similar fate was met by a vast number of blue collars.

They say the outsourcing of jobs began with the Democrats which is probably be true. Today Bush fully supports and enables the outsourcing of jobs. Kerry's plans for a global USA is merely an extension of this outsourcing philosophy...outsource our government!

I appreciate Bush's foreign policy, but it took until well after 9-11 for the USA to finally begrudgingly "allow" Israel to defend herself. After all, how could we attack a mid-eastern country while maintaining the charade of condemning Israel for self-defense against the same enemy. Now the Christian right-wing are Israel's friends, after millenia of pogroms, inquisitions, forced conversions, and general mistreatment, suddenly in the face of a common and relentless muslim enemy.

Is Bush responsible for your plight? Explain how. Do you think that someone owes you a job? Do you believe that government is supposed to protect your skill set? Do you feel that rich people are supposed to share the wealth for if you answer "Yes" to any of them then you probably are posting in the wrong forum. I say that not to be cruel but rather conservatives believe in self determination and that government is not the solution to your problems. If you have high-tech experience then you should either be able to find new work or have enough accumen to bridge into something related with a bit of time and education. And, if you have worked in high-tech you probably got paid better than most people and should have saved some money for a rainy day. I used to have a $150K a year job that lasted 7 years. It's gone and I am starting over. Yes, I am afraid of failure and it's not always easy but that's the game we are in.

Good luck with your employment situation.

"Is Bush responsible for your plight? Explain how."

What do you think the president is responsible for? Explain how and why. Do you feel that the president and government are responsible for anything at all? Please explain.

"Do you think that someone owes you a job?"
Did I say that?

"Do you believe that government is supposed to protect your skill set?"

Did I say that? Do you feel that Americans deserve any job protections at all? Before you answer consider that we are all dispensible.

Do you believe that the president has no responsibility for the welfare of the people? Are you asking for my support (donation for freeper) or my vote? Tell me why again?

"Do you feel that rich people are supposed to share the wealth for if you"

Did I say that? You are just putting words in my mouth and attacking me without justification for imaginary reasons. Please stop frothing at the mouth.

" answer "Yes" to any of them then you probably are posting in the wrong forum."

Please tell me what exactly is the "forum" here. I have read and agreed with many posts here, for example, that the liberals are intolerant of other's views...well it is obviously true of freepers here. Just raise a voice of dissent or raise a question and you are immediately attacked and exorcised. This forum is only for people who want to hear what they say and are totally intolerant of any opposing views. People who disagree are told to go away rather than reasoned with. Does the owner of this website really want it to be so provincial?

"I say that not to be cruel"
Well you are being cruel. Don't deny it or try to dilute the truth. You are callouse and cruel, and may what goes around come around rather sooner than later.

"but rather conservatives believe in self determination and that government is not the solution to your problems."

Did I say that I didn't believe in self-determination? Please show us all on this post where I said that. Are you the only voice of "conservatives" here? Do you think that you own the title of conservative? Are there "conservatives" that disagree with some of your views? Please explain.

"If you have high-tech experience then you should either be able to find new work or have enough accumen to bridge into something related with a bit of time and education."

I have 15 years experience in telecommunications. I did graduate work which included a tour of the Pentagon facilities. After being laid-off I earned an Associates in Science in Computer Networking hoping to find work. I have tried starting my own computer repair business but the field is saturated with out of work computer people. I have worked like hell for years doing all the right things. Now I am getting older and it is difficult to find work. They always want more experience or more skills that I don't have. I am taking nursing classes now but that will take years to complete.

"And, if you have worked in high-tech you probably got paid better than most people and should have saved some money for a rainy day."

And I have saved my money. I never received your pay rate. When my savings run out I would prefer to end my life quickly than to live in your society out on the skids and die a slow death on your streets. And who the hell are you to tell me what to do with my money anyway? You are just a heartless fascist dictator waiting to happen.

"I used to have a $150K a year job that lasted 7 years. It's gone and I am starting over. Yes, I am afraid of failure and it's not always easy but that's the game we are in."

$150K is more than I've ever made, and for 7 years? WOW. No wonder you think you are hot sh*t. My my how brave you are, not afraid of failure and still in the game, while us down and out weaklings just pollute your space. You are the epitome of virtue for us all no gooders to follow. Such a great man you are!

"Good luck with your employment situation."

Thanks and good luck to you. My employment situation is shared by many others in this country. I will vote for Bush because he is helping my people, my time is just about up anyway. I'm tired of struggling and failing. It is just not worth it to live and suffer in this society anymore.

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