Initial jobless claims fall 29,000 to 429,000 in latest week (Fewest first-time filings in 2 years)

Marketwatch ^ | 07/15/2010 | Ruth Mantell

[SeekAndFind]

The number of people submitting initial applications for state unemployment insurance benefits fell 29,000 to 429,000 last week, hitting the lowest level since August 2008, the Labor Department reported Thursday.

Economists surveyed by MarketWatch had expected first-time claims at a level of 445,000 for the week ended July 10.

[Principled]

Initial jobless claims will be zero when nobody has a job.

Well put Flightdeck ;)

[Marty62]

Is it just me or is anyone else tired of the BS and outright Lies that come out of this Administration.

They spent 2 years blaming Bush for everything. That’s not working anymore now they are running a “feel good” propaganda message campaign.

[Uncle Miltie]

Keep firing until there’s no one left to fire!

< / 0bamanomics >

[CodeToad]

This is probably why they won’t extend. By not extending they get to say there is less unemployment. If they extend, the numbers rise significantly. It is all politics.

[Freddd]

Because people aren’t waiting on unemployment checks in the Gulf, they are waiting on BP checks...

[Terry Mross]

I don’t understand how the non extension by congress could have anything to do with numbers period. Even if there’s no extension the unemployment people advise you to keep on filing so the checks will start back up if they do extend them. So saying the numbers dropped because people stopped looking never has made sense.

[xzins]

no matter how you spin it that’s still 425 THOUSAND “new” jobLESS claims. New folks losing their jobs. Got it, liberal media?

I looked at the benchmark for the previous years, and the average for new claims was 300,000 and less. So, no matter how it gets spun, that’s still 125 THOUSAND folks on the street just last week after getting pitched out of their jobs.

Someone better wake up to these spun numbers. This is worse than the U3/U6 game they play.

[greatplains]

If that works out, let me know where you bank - I’m switching! :)

In other words, fat chance.

[AceMineral]

Remember last year when Christmas Day and New Year Day were on Friday and the unemployment numbers went “down”, and the government was very happy. It was pointed out that there were back to back holidays with closed offices. So people had one less day to fill out the forms for two weeks in a row.
Same thing here.

[calex59]

The only reason they fell is that business is running out of people to fire and lay off.

[ichabod1]

Ah, they’ve pulled THAT trick before. But it doesn’t do them any good because it just goes back up the next week.

[ETL]

Just to put things into perspective for the Joe Bidens of the world. Although not exact, but it's pretty close to the number of people filing last week. [4 packed Michigan Stadiums]

“Michigan Stadium has an official capacity of 109,901”
http://en.wikipedia.org/wiki/Michigan_Stadium

Since the total number of unemployed (nationally) currently stands at about 14.6 million (as of June 2010), you would need approximately 132 such packed stadiums to represent them.

14,600,000/109,900 = 132

[TexasFreeper2009]

almost another half million people loose their jobs again last week... and its GOOD news!

lol

[personalaccts]

I believe that was a holiday week.

[Abathar]

I was too lazy to do the entire number, the four was just for this week to show what they think as a positive thing.

Unless you’re sitting behind one of those goalposts of course.

[Fresh Wind]

“Prosperity is right around the corner.”

[meyer]

“Prosperity is right around the corner.”

"Nothing but blue skies."

[pburgh01]

Well I think out in the hustings, this cheer-leading and spinning of bad news is taken for what it is, propaganda. Obama and his folks have committed to a flawed strategy and has never worked in American politics. By ignoring the true measure of the trouble we are in Obama is committing political Hari Kari. Obama seesm to think the 52% he got eelcted with are hardcore sociliasts like him, November’s bloodbath should shake him out of his stupor on that. He has about a 43-45% base of morons, degenerates, minorities , slut single Moms and sweater vest wearing closested gay married men. That's it, he's lost that swing contingency he needs to be re-elected.

[mware]

http://www.youtube.com/watch?v=-NHLfb25J8Y&feature=related

[chilltherats]

Next week they’ll release a statement revising the number upward, but there will be little reportage of that fact.