Jobless claims rise, but labor recovery grinds on

Yahoo Finance ^ | 7/11/13 | Staff

[YankeeReb]

WASHINGTON (Reuters) - The number of Americans filing new claims for unemployment benefits rose last week, although the level still appeared to point to healing in the nation's job market.

Initial claims for state unemployment benefits increased by 16,000 to a seasonally adjusted 360,000, the Labor Department said on Thursday.

The reading was likely clouded by seasonal factors. The Labor Department can have a tough time seasonally adjusting claims in early July because many factories shut down during that period for retooling, but the scheduling for the shutdowns varies from year to year.

A Labor Department analyst said there was nothing otherwise unusual in the data and that no states had provided estimates.

Even with the increase, the number of layoffs remains in the range of the levels seen over the last year, and is consistent with a continued drop in the unemployment rate.

[YankeeReb]

Jobless claims rise, but labor recovery grinds on

Oceanna is at war with EastAsia, Oceanna has Always been at war with EastAsia.

Does anyone else get the feeling that we're living in George Orewell's world.

The funny thing is, under Bush the unemployment rate was usually under 6%, but back then we were in "the worst economy since the Great Depression."

[JohnBrowdie]

“althought”, “appears”, and “seasonal factors” are the new “unexpected”.

[Zakeet]

the [unemployment] level still appeared to point to healing in the nation's job market.

[Wyatt's Torch]

Looking at weekly jobless claims is futile. 4-week average removes the weekly noise. We are well within "normal" for claims:

[Red Badger]

The LESS JOBS RECOVERY.............

[mykroar]

And from the Reuters story, the very expected: "Claims for the prior week were revised to show 1,000 more applications received than previously reported."

[CommieCutter]

And everytime there was 200k+ gains in jobs for the month it was spun as a negative. I’ve never heard of job losses falling ever used during Bush and had it been that stat would have been laughed out of the room.

[NY.SS-Bar9]

Completely ignores that last week was a four day week.

[Wyatt's Torch]

There are estimates made to account for that. July 4th happens every year.