Posted on 12/15/2011 7:19:36 AM PST by sunmars
The number of Americans filing new claims for jobless benefits dropped to a 3-1/2 year low last week and factory activity in New York state scaled a seven-month high in December, more evidence of a pick-up in economic activity.
Initial claims for state unemployment benefits dropped 19,000 to a seasonally adjusted 366,000, the Labor Department said on Thursday. That was the lowest level since May 2008, and confounded economist' expectations for a rise to 390,000.
In a separate report, the New York Federal Reserve said its "Empire State" general business conditions index rose to 9.53 - the highest since May - from 0.61 in December.
The index was boosted by a strong rebound in new orders and an improvement in hiring.
"It all speaks to further stabilization and a very positive trend in the U.S. economy. Stability in the U.S. economy is going to be a vital part of stabilizing global GDP. This comes in a very good time," said Peter Kenny, managing director at Knight Capital in Jersey City, New Jersey.
The unexpected drop in claims last week pushed them closer to the 350,000 mark that analysts say signals labor market strength.
It offered further proof of increased momentum in the pace of economic activity, even though retail sales rose modestly in November. This is in sharp contrast to Europe, where the festering debt crisis has already pushed some economies into recession.
The Federal Reserve on Tuesday acknowledged the improvement in the jobs market, but said unemployment remained high. The jobless rate dropped to a 2-1/2 year low of 8.6 percent in November.
The U.S. central bank said the debt crisis gripping Europe was a big risk to the U.S. economy, which it described as "expanding moderately".
(Excerpt) Read more at reuters.com ...
If Obama goes into the 2012 election with an expanding economy, it will be despite all his VERY significant efforts to destroy the economy, not because of anything he did to help.
It’s important that the electorate know that - not that most Americans have a clue.
obama is going to run for re-election on peace and prosperity.
Unemployment is way down below 9% and it steadily goes lower nearly each month, todays jobless claims are the lowest since bush was president, interest rates on loans are the lowest on record, obama won the war in Iraq and brought the troops home, obama got osama bin laden, and obama got health coverage for all Americans, obama has a wonderful family, obama has over a billion dollars in his re-election campaign fund.
What are the republicans going to counter with?
” economist’ expectations for a rise to 390,000 “
Folks, do a search on this and see if anyone stated the above.
Instead, look here instead for the “390,000” number http://uk.ibtimes.com/articles/259597/20111201/instant-view-jobless-claims-rise-above-400-000.htm
Mysteriously “390,000” pops up in another context.
You can bet the Alinski "bible" on it. Axlerod is already writing new war plans.
Of course, the rinos - as usual - are asleep at the switch.
This is good news. I hope it's a sign of things to come. I also see some construction work starting up again in my neighborhood, where the homes are 70 years old. I think things have been put off for a couple of years and people are now finding the resources to get these jobs done.
“Don’t get too upset with this report people its “jobless claims” aka claims for unemployment benefits. It has no direct relation to real unemployment.”
That’s right; it is a very misleading headline (deliberately). No worries; the un- and under-employed know what’s real & what isn’t - they live it every day. On top of that are those looking to switch jobs that can’t; this is also a large number as companies turn up the pressure on employees in terms of hours and stagnant pay. IF Obama runs in 2012, he won’t even carry Illinois.
“What are the republicans going to counter with?”
The old tried & true, “Are you better off than you were four years ago?” Even the ObamaCare is intangible lip service.
Game, set, match.
I also expect the per gallon price for gasoline to “unexpectedly” drop to around $2.00 in the early fall, just in time for the sElection.
With higher taxes, more regulations, manufactured crises, Cloward-Piven strategy and a general anti-business, anti-capitalist stance, Obama ought to be tried for treason. Trying to destroy our economy that six generations have built. Grrrr.
We have Obama, the czars, Ayers, Van Jones, Corzine, Holder, Trumpka, Unions, SEIU, DSA, CPUSA, ACORN, (renamed), the Congressional Progressive Caucus, Congressional Black Caucus - they're all socialists/communists at heart. When is America going to wake up? Throw them all out on November 6, 2012!
As an aside, how come - from Rasmussen - 76-80% (varies on the day - today it's "19% think America is heading in the right direction") of Americans think we're "going in the wrong direction", yet Obama is ahead of Newt by 10 points? Can someone explain how that works?
The "stimulus" has run dry, Obama's not gotten his new "stimulus" and he blames Republicans for stalling the economy for the benefit of the 1%.
How can he have it both ways? Either the Republicans can claim credit for reviving a dead Obama economy and his plans were what kept the economy from reviving in the first place or nothing done makes a hill of beans difference.
If it's a "recovery" and not an anomaly, the press will help him spin it as being a slower recovery because of the Republicans.
I agree with other comments - Republicans should not expect a certain high level of unemployment and bad economic news for fall 2012. Anything that remotely hints at good news will be magnified into the greatest expansion in all of human history.
Funny, Rush (Limbaugh) was noting this morning that the lamestream media is spiking these number announcements. And......he can’t figure out why. Why? Because after Jannuary 1st, the numbers will again rise as retailers and overnight shippers lay off temporary workers. Also, many companies wait until after the holidays to lay off full time employees. Gloom is coming quickly!!!
>>Republicans should not expect a certain high level of unemployment and bad economic news for fall 2012. Anything that remotely hints at good news will be magnified into the greatest expansion in all of human history.<<
Exactly. Basing our hopes for Obama’s defeat on a bad economy is just playing into their hands. He can, and should, be defeated for far more serious reasons than a sputtering economy. The man has been trying to lead us to his perception of a socialist utopia. Whether with good intentions or bad, that’s the direction the campaign against him should take.
Bigger government or smaller government. That’s the choice facing us, and Obama is clearly not in the smaller government camp.
So where did 40,000 people finds jobs since these numbers are already “seasonally adjusted” to account for Christmas hiring?
All those thousands of bankers being laid off this week must not be people - that explains it?
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The bankers just haven’t figured out how to apply ,, it’s all new to them.
Think about this folks....3.5 years and the lowest number of new unemployment claims in that time frame is 366,000....
How many of you live in a city with that many residents. Imagine, almost 375,000 people who used to work but are now not. EVERY FRIGGIN MONTH! Multiply that times 3.5 years. It comes to over 15 MILLION people. 15 million people that Obama is reponsible for them not being able to work.
There is nothing uplifting about this, especially because this government, our certain enemy now, is likely lying about the extent by a factor of three....45 to 50 Million people not working. They are newly added to our newly permanent sector that exists solely to exist solely off the real Americans’ backs (net-tax paying citizens)
This cannot last. Math is cruel that way.
Tell this “good news” to my single-mom daughter who just lost her job of 17 years.
The number of Americans filing new claims for jobless benefits dropped to a 3-1/2 year low last week ...
That's great, but I have a sneaking suspicion that the week with the lowest number of new unemployment claims will be the FINAL one. .... you know, the one where they measure NEW unemployment claims AFTER everyone is already unemployed.
The number of Americans filing new claims for jobless benefits dropped to a 3-1/2 year low last week ...
That's great, but I have a sneaking suspicion that the week with the lowest number of new unemployment claims will be the FINAL one. .... you know, the one where they measure NEW unemployment claims AFTER everyone is already unemployed.
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