Weekly Jobless Claims Fall, Offering Glimmer of Hope [423K new, last week rev up 432K]

Reuters/CNBC.com ^ | September 22, 2011

[TomGuy]

Applications for unemployment benefits slipped to 423,000 in the week ending Sept. 17 from an upwardly revised 432,000 the prior week, the Labor Department said.

[TomGuy]

Reuters/CNBC.com hide the figures from their title.

A glimmer of hope? Not really, Reuters. It is just more of the same:

Last week -- revised UP, of course, to 432,000 [from 428,000, IIRC]

This week -- drops slightly to 423,000 [awaiting next week's unexpected revision UP (/s)]

==

In other headlines: Superman endorses Rick Perry for President.

Actor Dean Cain, on Fox&Friends this morning, openly endorsed Rick Perry. His primary reason was Perry's job creation performance in Texas.

[That's gonna sting on the Left Coast and in several other GOP wannabe camps.]

[truthkeeper]

I had to check to make sure that was the actual title.

I'm sure it's the same one they would have used if Bush were still President - not.

[Farmer Dean]

Reuters is squandering it’s last shreads of believability by continuing to pimp for Obama and the leftists.

[TomGuy]

Bernacke implies that we ‘may be’ in a recession, per FoxNews.

Economic slump could last for years, per FED. [More Obama in 2012 = more of the same.]

[MulberryDraw]

Rooters/CNBS are hopeless. With claims this high, we’re going back a$$ wards.

[silentknight]

Europe is on fire

Markets crashing

http://finance.yahoo.com/intlindices?e=europe

[MulberryDraw]

I had to check to make sure that was the actual title.

LOL! Me too.

[nhwingut]

The four-week moving average of claims, which smooths out volatility, rose to 421,000 from 420,500 the prior week.

[DeaconRed]

WOW
Everything is A-OK
The change is working. . . . . . . . . . NOT

[KevinDavis]

There is no way in hell that UE is at 9.1% . If this many people is laid off I would have to say it is 11% roughly..

[pburgh01]

What I find encouraging is how most of these propaganda pieces written by the dimwit homosexual\metrosexual hopey changey cheerleaders in the MSM are greeted... with laughter and scorn. Unlike 2008, the OBamaBots are restricted to HuffPo and Gawker, they have lost the blogosphere strongholds. Their army of addled undergrads have graduated or didn't want to take on 100k more in student loan debt for grad school and are now unemployed recent grads or slipping around waiting tables at some Chilis or Chipoltes chain restaurant. The comment sections on sites like CNN are 75% tea party folks and the occasional drone, usually black or gay chirping in to defend the indefensible. 12% Black and 3% gay won't get it done Obama, you're over, better have Wookie start looking at Realtor.com, your moving in a year or so.

[Jeff Head]

The Obama administration lies about the jobless claims on a weekly basis. They lie about the number of unemployed, changing the basis for numbering the unemployed to try and hide the extent of the problem.

While all of that is going on and has been worsening on their watch...and worsening dramatically, they have taken trillions of dollars out of the economy and wasted it, given it to their crony friends and supporters, renegotiated loans to those same crony friends and supporters so that they would be first in line should they default instead of the American people, and, in short, they have done all in their power to weaken and destroy the American economy and transfer power over it into their own hands.

They hate and want to destroy the free market. That is a huge part of Obama's fundamental change he promised over and over again during his election.

Barack Hussein Obama is an abject marxist ideolog. His upbringing, his circle of friends, his schooling, his community organizing, and his political career all punctuate that point...as do his own words.

We simply must eject him, his entire administration, and any politician who supports him or who has stood back while he has taken a wrecking ball to this nation. Double down on 2010 in 2012.

[Hoodat]

A few weeks ago, they were ‘expecting’ new weekly claims to fall below 400,000. Now, their offering 423,000 as a ‘glimmer of hope’? The truth simply isn’t in these people.

[TomGuy]

The four-week moving average of claims, which smooths out volatility, rose to 421,000 from 420,500 the prior week.

Key statement in the AP article on today's jobs report:

Applications typically need to fall below 375,000 to significantly lower the unemployment rate.

We are still 50k PER WEEK above that. And creating 15k to 30k new jobs per MONTH is not going to have a substantial impact.

[newzjunkey]

“Glimmer of Hope” says it all about Reuters.

[Mr. K]

"...from an upwardly revised 432,000 the prior week,

Has there ever been a number release by this administration that WAS NOT fudged and had to be 'revised' (usually for the worse) the following period?

How much will THIS number be 'revised' next cycle?

[kabar]

Actor Dean Cain, on Fox&Friends this morning, openly endorsed Rick Perry. His primary reason was Perry's job creation performance in Texas.

Most Texas Job Growth Went to Immigrants

Governor Rick Perry (R-Texas) has pointed to job growth in Texas during the current economic downturn as one of his main accomplishments. But analysis of Current Population Survey (CPS) data collected by the Census Bureau show that immigrants (legal and illegal) have been the primary beneficiaries of this growth since 2007, not native-born workers. This is true even though the native-born accounted for the vast majority of growth in the working-age population (age 16 to 65) in Texas. Thus, they should have received the lion’s share of the increase in employment. As a result, the share of working-age natives in Texas holding a job has declined in a manner very similar to the nation a whole.

Among the findings:

• Of jobs created in Texas since 2007, 81 percent were taken by newly arrived immigrant workers (legal and illegal).

• In terms of numbers, between the second quarter of 2007, right before the recession began, and the second quarter of 2011, total employment in Texas increased by 279,000. Of this, 225,000 jobs went to immigrants (legal and illegal) who arrived in the United States in 2007 or later.

• Of newly arrived immigrants who took a job in Texas, 93 percent were not U.S. citizens. Thus government data show that more than three-fourths of net job growth in Texas were taken by newly arrived non-citizens (legal and illegal).

• The large share of job growth that went to immigrants is surprising because the native-born accounted for 69 percent of the growth in Texas’ working-age population (16 to 65). Thus, even though natives made up most of the growth in potential workers, most of the job growth went to immigrants.

• Of newly arrived immigrants who took jobs in Texas since 2007, we estimate that 50 percent (113,000) were illegal immigrants. Thus, about 40 percent of all the job growth in Texas since 2007 went to newly arrived illegal immigrants and 40 percent went to newly arrived legal immigrants.

[TomGuy]

Even BJ Clinton is making news this morning by saying Obama’s tax plan is won’t solve the problem.

[Do the Clintons smell blood in the water?]

[GlockThe Vote]

Not to mention we have a labor force that is millions smaller overall, making the 420k that much worse on a matter of scale.

[AD from SpringBay]

Slipped to

423,000?! That's not enough to keep up with new workers entering the work force. Next thing we know the unemployement rate, the doctored one put out by the Administration, will slip to 10 percent.