Posted on 06/24/2010 6:32:04 AM PDT by Mad Dawgg
WASHINGTON – Initial claims for jobless benefits fell by the largest amount in two months last week, but remain above levels consistent with healthy job growth.
Despite the drop of 19,000, claims are at about the same level they were at the beginning of the year. The stubbornly high level of requests for jobless aid is a sign hiring remains weak even as the economy recovers.
The Labor Department said Thursday that new claims dropped to a seasonally adjusted 457,000. That's slightly below economists' forecasts of 460,000, according to Thomson Reuters.
First-time requests for unemployment insurance have been stuck at about 450,000 since the beginning of this year. New claims dropped steadily last year after reaching a peak of 651,000 in March 2009. Claims need to fall closer to 425,000 to signal sustained job growth, many economists say.
The four-week average dipped by 1,500 to 462,750, the first drop in six weeks.
(Excerpt) Read more at news.yahoo.com ...
new claims dropped to a seasonally adjusted 457,000. That’s slightly below economists’ forecasts of 460,000
Does anyone else find this line totally ridiculous?
The whole article is ridiculous, as it is each month.
>>>BS! Just last year the “economist” were claiming it would have to drop below 250,000 claims to start seeing creation.
I think your “economist” is way off. In the past 30 years (that’s 1560 weeks), weekly initial claims have been under 250,000 only 64 times and only 3 times since 2001.
>>>I think your “economist” is way off. In the past 30 years (that’s 1560 weeks), weekly initial claims have been under 250,000 only 64 times and only 3 times since 2001.
That was NSA, so a number of those weeks may have included holidays. Looking at the SA numbers, claims have never been below 250,000 in the past 30 years.
What are the numbers for those that have exhausted their benefits and just given up?
My bad.
I reread some past articles and I stand corrected. The economy needs to create 250,000 jobs to make a dent in the unemployment rate.
This number keeps moving. Not more than 2 months ago it was 400,000. When Lord Vader "Evil BUSH" was president is was in the 300,000s.
“new claims dropped to a seasonally adjusted 457,000...”
Can someone tell me what “season” it is that requires nearly half a million people a week getting laid off?!
>>>What are the numbers for those that have exhausted their benefits and just given up?
Can’t really determine from the weekly claims number. Continuing claims for the week ending June 12 decreased to 4.548 million from 4.593 million previously, but we don’t know how many founds jobs and how many had their benfits expire.
That is, of course, until the figures are later revised upward.
I have seen that before. There’s a difference in terms of how you are counting the numbers...monthly or weekly or something.
I can’t remember which, but the reason for the difference is a different “gauge” so to speak, so there’s a different number.
I can't find the article at the moment, but in our state, there were 5,200 new jobs for May .... 4,800 of those were census workers.
Do the math. BWHAHAHA!
What seasoning did they adjust it with?
Salt?....a little Pepper, some Oregano, or maybe a dash of Adobe seasoning? What seasoning? What's the recipe?
They don’t let George W Bush get away with, If we had not taken out Saddam he would have launched 911 type attacks on us in America but they endorse Obama’s crap that the economy would have been worse off if he did not implement that failed recovery package.
No, no and no. The revised report will reveal that unemployment rate unexpectedly remained the same or went up. This report is meant only to get a DOW bump for the day. ANALysts will ignore the revised, but true, report when it is inevitably reported.
Just like the looming car wreck of Greece, Spain, Portugal and the EU in general is somehow a daily—not continuing—event.
Mindless, utterly mindless.
Total spin job...and it will be revised upward in a couple of weeks when it will no longer be news. Welcome to Soviet style public information.
But...but...but.....democrats are for the working man!
Why did unemployment claims drop? In part, because California has ended extended unemployment benefits!
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