Posted on 09/13/2007 5:40:44 AM PDT by Moonman62
Jobless Claims Rise by 4,000 to 319,000 in Sign the Labor Market Is Weakening
WASHINGTON (AP) -- The number of laid off workers filing claims for unemployment benefits rose last week in another worrisome sign that the labor market is weakening.
The Labor Department reported Thursday that new claims for unemployment benefits rose by 4,000 last week to 319,000. It marked the sixth increase in the past seven weeks and was a further sign that the economy is feeling the impact of a steep slump in housing and a spreading credit crisis.
The government reported last week that employers cut 4,000 jobs from payrolls in August, the first monthly job decline in four years.
They make seasonal adjustments.
It is a sign of nothing.
Note: “The increase of 4,000 jobless claims on a seasonally adjusted basis followed a decline of 22,000 in claims applications in the previous week. The increase came in the week that included the Labor Day holiday, meaning that unemployment offices had one less day to process claims.”
“Jobless Claims Rise by 4,000 to 319,000 in Sign the Labor Market Is Weakening”
How do they type, edit and print this stuff with a straight face?
one figure does not a trend make - but i don’t think there is any doubt that the economy is slowing. the question is how much — most don’t think we’ll tip into recession based on underlying strength of the economy.
Stock market futures are raising as the market was expecting 10,000 loss instead of this 4,000 loss. This news better than expected but still bad enough so the fed will still cut rates next week.
Yet more biased reporting. Below is from the Bloomberg site. Claims did rise but a lower then expected amount. You can bet that had claims been forecast to drop 5000 and only dropped 2500 instead, the lib media would be saying that claims "dropped less then anticipated" On top of this the 4 week moving average, a more important and useful measure, actually fell.
Initial unemployment claims rose by 4,000 to 319,000 in the week that ended Sept. 8, the Labor Department said today in Washington. The median forecast of economists surveyed by Bloomberg News projected claims would total 325,000. The four-week moving average, a less volatile measure, fell to 324,000 from 325,000.
Nice of the YAHOOs at YAHOO to post this old story.
I’ll give credit to FReepers. This report has pretty much been slammed down.
How’s that minimum wage raise thingy working, Gramma Nancy?
I know the Dow Jones Industrial average presently reflects an amount never seen before, roughly $13,000 per share. But is it possible that alot of this amount reflects the income levels seen by american corporations that have packed up and left american soil to reap the benefits from else where, like China for example ? / Why would there be so much trouble in the housing markets if everybody was working making loads of money ? /Why wouldn’t people be upgrading their present homes for New homes ? / Why are the Airlines laying off when so maney people are making so much money to purchase airfares ? / If I was making this kinda dough, I’d be taking a trip somewhere ! /Why would the Auto makers be laying off workers if all these people had these good paying jobs ? / Why wouldn’t they be buying cars ? /Why would public schools be laying off Teachers ? / Who’s gonna teach all these kids that arn’t really moving with their families to find better prospects elsewhere ? / Why would Real Estate brokers be laying off if all these people with great paying jobs were actually buying all these homes ? / Why do I see all these recreational vehicles up for Sale in front of all these peoples homes when I know darn well they are making loads of Money ? / I know this cause I read FreeRepublic articles and these people don’t lie. But I must admit some stupidity on my part because I simply don’t understand. Could someone please help me understand what’s going on ?
That’s a terrific chart. It shows how much the Federal Reserve loves us.
Stocks Soar on Unemployment Report- AP
I’m SHOCKED!!!, SHOCKED, I TELL YOU!!!
The increase of 4,000 jobless claims on a seasonally adjusted basis followed a decline of 22,000 in claims applications in the previous week. The increase came in the week that included the Labor Day holiday, meaning that unemployment offices had one less day to process claims..................Oop’s we forgot to include this tidbit of info. Coulda been 5,000 or 10,000 if not for the holiday. Will we ever know ? Incidently is there a way to determine exactly why 22,000 stopped receiving benefits the following week ?. Is it because they all found jobs or because they exhausted their benefits ?-————————————————1. The state data is not adjusted for seasonal variations.
2. The data doesn’t include workers with exhausted unemployment benefits
3. the data excludes people that have given up hope of finding work
4. the data doesn’t reflect the state to state population shift
5. the data retreived only from manufacturing sector
6. the data shows service sector declines
Any idea why they don’t include ALL the data ?
Cool Chart !, Wanna see one that is actually “season adjusted” ? Try this one for size !.....http://data.bls.gov/PDQ/servlet/SurveyOutputServlet?data_tool=latest_numbers&series_id=LNS14000000
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