Posted on 01/17/2013 6:06:19 AM PST by SoFloFreeper
The number of Americans filing new claims for unemployment benefits tumbled to a five-year low last week, a hopeful sign for the sluggish labor market.
Initial claims for state unemployment benefits fell 37,000 to a seasonally adjusted 335,000, the lowest level since January 2008, the Labor Department said on Thursday. It was the largest weekly drop since February 2010.
The prior week's claims figure was revised to show 1,000 more applications than previously reported.
While last week's decline ended four straight weeks of increases, it is probably not the start of a new trend or a sign of a material shift in labor market conditions as claims tend to be very volatile around this time of the year.
(Excerpt) Read more at mobile.reuters.com ...
Oh yeah. Everything is coming up roses. Oboma saved us all.
(NOT)
My unscientific business survey? Activity is up, but not brisk. Everyone’s still on the sidelines with regard to hiring.
All is wonderful. Hell, we had only 6,000 apply at a job fair for 200 minimum wage jobs here in Albuquerque last week so things are looking good. Keep up the good work economy.
My guess is the entire house of cards is ...fake. It shouldn't be long before the veil is lifted, and everything is reveled. What we're going to see will be really, really, ugly!
Benefit applications are down, and that’s good news!
BUT labor participation rates have fallen steadily since BHO took office, or about 3.3% since February of 2009. This means about 6 million less people have jobs today than at any point during Bush’s eight years.
For the record, labor participation rates dropped by 1.6% during Bush’s two terms. They’ve just dropped four times as quickly in BHO’s first term.
http://data.bls.gov/timeseries/LNS11300000
(rerun the graph from 2000 to see Bush’s two terms)
It’s leftie double-speak. So obviously....
it did both.
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