Posted on 12/27/2012 7:09:02 AM PST by SeekAndFind
The number of Americans filing new claims for unemployment aid fell last week to nearly its lowest level in 4 1/2 years, a sign that the labor market is healing.
Initial claims for state unemployment benefits dropped 12,000 to a seasonally adjusted 350,000, the Labor Department said on Thursday. The prior week's figure was revised to show 1,000 more applications than previously reported.
After spiking in the wake of Superstorm Sandy, which ravaged the East Coast in late October, the weekly levels of new claims have now dropped to their lowest levels since the early days of the 2007-09 recession. The four-week moving average fell 11,250 last week to 356,750, the lowest since March 2008.
That suggests the surge in layoffs since the recession may have run its course, although companies still are adding to their payrolls at a lackluster pace.
The report included a caveat, at least for the latest week. President Barack Obama declared Monday a holiday for federal workers and many state offices followed suit and were unable to provide complete data for last week's jobless claims. Data for 19 states was estimated, a Labor Department official said. Fourteen of those states submitted their own estimates, which tend to be fairly accurate because the state officials work with a significant amount of data, the Labor Department official said.
(Excerpt) Read more at nbcnews.com ...
Don’t forget the record massive tragic debilitating injuries that occurred in December leading to record numbers of people going on disability.
But I just can’t remember what the nation-wide natural disaster or terrorist attack was that caused these massive debilitating injuries to so many Americans.
Oh, wait, yeah... Nov 2008, Nov 2012.
The sad part is that the BLS labor participation rate includes government jobs as well as private sector jobs.
IF we could plot labor participation rates for PRIVATE SECTOR ONLY, I suspect the charts would look even worse.
But we agree that a weak nation of dependent serfs would please our ‘betters’ far more than a strong nation of free men.
Watch the unemployment rate plummet as the cliff drops 3 million off the unemployed rolls. We could soon be at full employment! Great news comrades /s
data for 19 states was estimated...
too funny
let’s wait for january numbers, as retail temps are let go
Update: the BLS disclosed that it had to estimate the data for 19 states due to holiday office closures. Good enough for Ministry of Truth work.
I suspect the number employed may actually pick up in 2013 as more and more current employees are transitioned to “29ers” and additional “29ers” are hired to make up the hours.
RE: more and more current employees are transitioned to “29ers”
Pardon my ignorance, but what on earth is a “29er”?
NBC News issues glowing jobless report by Bureau of Labor Statistics composed of estimates and projections from shuittered vacationing participating agencies.
I would like to see the figures on what percentage of working people hold two or more jobs now. It may be the highest in the history of the country. A lot of people who used to work one well paid full time job with overtime available are now working two or three part time jobs with low pay. I am supposedly retired and have worked two part time jobs a lot of the time lately. Now I am down to one gig as an independent contractor doing telephone work from my home. I feel very fortunate to be averaging about fifteen an hour doing that. Twenty years ago I wouldn’t have sat and watched TV for fifteen dollars an hour.
The “new normal” of Baraq. It’s a testimonial to how dumbed down the electorate is now that he won re-election.
You're absolutely correct.
Historically, the fascism/socialism comes first, followed by the Obamunism.
See y'all in the Gulag.
Leni
And its not just government jobs.
Obama communist borrowing and printing trillion$ of dollars to give to NOn-profits which produce NOTHING and are about the same as government jobs( are these non-profits including in private sector jobs? at least they are in the Jobs report but they are not really jobs just more socialist bs. then there are private government contractors. All these are included in the “Jobs” numbers . REAL private sector jobs not in universities, not in non-profits , not in government contractors are the worst ever as a % of population. The U.S. is becoming a welfare nation.
“let’s wait for january numbers, as retail temps are let go
Bingo. My thoughts exactly. And as more people are dropped under the 29 hours a week.
Yep - just like consumer confidence was "oh so high" a while back and record sales were reported - only now they're saing that businesses are hurting and hoping like hell that folks spend some money after the holiday "rush/boom".
“The number of Americans filing new claims for unemployment aid fell last week to nearly its lowest level in 4 1/2 years, a sign that the labor market is healing. “
Or has hit bottom.
Or the department store Santas and cashiers hadn’t filed for unemployment yet, because they were still employed right before Christmas.
Or that NBC is full of pontificating jackasses.
“...of “fundamentally transforming” Amerika, comrade.”
No. Ameriqaa. As soon as all of Ameriqaa joins Dearborn, MI in Daar ulIslaam, they won’t need jobs. They can just loot the unbelievers before forcing them to convert.
My sister works on Wall Street. Her firm always TOTALLY discounts the UE numbers from two weeks prior to Thanksgiving thru the end of January of the next year ...
Seasonal employees [who will be let go after the new year] and people who just plain do not look for work HORRIBLY skew the numbers in this 10-week period ...
They will start to analyze the numbers at her firm beginning on Feb. 1st 2013.
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