Posted on 08/23/2012 6:06:15 AM PDT by xzins
E-MAIL SHARE FONT-SIZE 8/23/2012 8:37 AM ET (RTTNews) - First-time claims for U.S. unemployment benefits unexpectedly showed a modest increase in the week ended August 18th, according to a report released by the Labor Department on Thursday.
The report showed that initial jobless claims edged up to 372,000 from the previous week's revised figure of 368,000. The modest increase came as a surprise to economists, who had expected jobless claims to slip to 365,000 from the 366,000 originally reported for the previous week.
Additionally, the Labor Department said the less volatile four-week moving average crept up to 368,000 from the previous week's revised average of 364,250.
by RTT Staff Writer
You got me there!
Good point about timing and different levels in different economies. As a point of reference in 1984 we averaged 374K. Got down below 300K for a period in 1988 (averaged 309K for the year). The rate of decline back to this level was much faster post 81-82 recession. Point is that we are pretty much in a “normal” range if not slightly above. The funny thing is that GDP growth in the 80’s during that period was 5%+ and today it’s sub 2% and job growth now is very anemic (~100,000/month).
And those without unemployment benefits are looking for a bridge to jump from as they burn through savings trying to figure out how to pay for high gas prices to fruitlessly look for work, yet still eating and keep a roof over their heads.,p. Obama's legacy: Hope you have some Change left when he's finally out of office!
Don’t put cream and sugar in it.
Inflation is a general rise in prices not just this or that sector. With housing and construction on the floor being delivered Last Rites there is no inflation.
There will never be another metallic standard. It did not work in the past and won’t work now. Nations involved in war went off the gold standard quickly and did not resume convertibility for decades.
Nor is there any inflation at present or deliberate generation of inflation.
Few people understand either the Gold Standard or the current monetary system. But that does not stop them prescribing solutions to problems which are not there.
Of course not...don’t want to do ANYTHING to make the Dear Leader look bad, eh?
Remember the daily stories of our war dear coming back here, usually to Dover AFB in DE? No more of those stories either.
About 1 1/2 weeks ago my wife paid about $3.78 for regular gas.
About 3 days ago I paid $4.19 for mid grade. I saw another gas station advertising $4.49 for regular. It’s getting crazy. Oh, I live near the coast in the lib state of Washington.
Can we get some names as to who these perenially wrong doofuses are? It takes a lot of brass to first admit you were wrong last week and then simultaneously admit you are wrong right now———and expect to be credible. But I’ll bet they are absolute geniuses at putting their next budget/pay scale together? There oughta be a penalty for being wrong 52 out of 52 (weeks)——
You do realize that you just contradicted yourself within the same post?
We should place bets on how high the fake numbers will be so 'Meet the Suck-ups in the Press' can't shill for Obama without becoming a laughing stock.
I remember when NBC had dignity.
BTTT
“came as a surprise to economists”
Wonder if any of these guys feel guilty for drawing a paycheck?
Let them start with this. And the lie that 375,000 or less is where things ‘get better’. For whom?
March 15: Reported - 351,000, Revised - 353,000
March 22: Reported - 348,000, Revised - 364,000 Reported - down, Actual - up
March 29: Reported - 359,000, Revised - 363,000 Reported - down, Actual - down
April 05: Reported - 357,000, Revised - 367,000 Reported - down, Actual - up
April 12: Reported - 380,000, Revised - 388,000 Reported - up, Actual - up
April 19: Reported - 386,000, Revised - 389,000 Reported - down, Actual - up
April 26: Reported - 388,000, Revised - 392,000 Reported - down, Actual - up
May 03: Reported - 365,000, Revised - 368,000 Reported - down, Actual - down
May 10: Reported - 367,000, Revised - 370,000 Reported - down, Actual - up
May 17: Reported - 370,000, Revised - 372,000 Reported - no chg, Actual - up
May 24: Reported - 370,000, Revised - 373,000 Reported - down, Actual - up
May 31: Reported - 383,000, Revised - 389,000 Reported - up, Actual - up
June 07: Reported - 377,000, Revised - 380,000 Reported - down, Actual - down
June 14: Reported - 386,000, Revised - 389,000 Reported - up, Actual - up
June 21: Reported - 387,000, Revised - 392,000, Reported - down, Actual - up
June 28: Reported - 386,000, Revised - 388,000, Reported - down, Actual - down
July 05: Reported - 374,000, Revised - 376,000, Reported - down, Actual - down
July 12: Reported - 350,000, Revised - 352,000, Reported - down, Actual - down
July 19: Reported - 386,000, Revised - 388,000, Reported - up, Actual - up
July 26: Reported - 353,000, Revised - 357,000, Reported - down, Actual - down
August 2: Reported - 365,000, Revised - 367,000, Reported - up, Actual - up
August 9: Reported - 361,000, Revised - 364,000, Reported down, Actual - down
August 16: Reported - 366,000. Revised - 368.000. Reported up 2000, Actual -up 4000
August 23: Reported - 372,000.
I was ASTOUNDED to see this in the NYT.
Honestly ASTOUNDED.
http://economix.blogs.nytimes.com/2012/08/23/big-income-losses-for-those-near-retirement/?hp
Like you I was overwhelmed with amazement... or maybe mildly impressed. Either way it was a nice piece - good balance of facts and analysis. When the New York Times wants to do it right, they do...
“...over the past 3.5 years on average 1.8 million folks every month have applied for first time unemployment insurance compensation. This compared to the number jobs created per month, does not equal 8.3%.”
Now stop it silly!!Yur doon’ the maths....thats not allowed...
“I was ASTOUNDED to see this in the NYT....”
they’re celebratin’ the prospect in the editorial room at the NYT....
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