US jobless claims tumble to lowest level in nearly a decade (284,000)

CNBC ^ | 07/24/2014

[SeekAndFind]

The number of Americans filing new claims for unemployment benefits fell to the lowest level in nearly 8-1/2 years last week, suggesting the labor market recovery was gaining traction.

Initial claims for state unemployment benefits declined 19,000 to a seasonally adjusted 284,000 for the week ended July 19, the Labor Department said on Thursday.

That was the lowest level since February 2006, and confounded economists' expectations for a rise to 308,000.

The prior week's claims were revised to show 1,000 more applications received than previously reported.

[ThunderSleeps]

One other possibility or contributing factor. Thanks to obamacare employers are known to be using many more part time employees in order to avoid expensive and regulation-bound benefits. Therefore the number of jobs may actually be increasing slightly, but the net amount of work is almost certainly decreasing. A lot of people in these situations have two, even three jobs. (I have a niece holding down 3 part time jobs and she has two room-mates just to be able to afford an apartment) Guess what, lose a job when it is one of two or three that you have and you don't get unemployment. Couple that with flat dropping of people from the workforce. Mix in blatant lies from the administration. Yeah, they can report any rosy glasses numbers they want, doesn't mean spit.

[Wyatt's Torch]

No. 300K is very low.

[Wyatt's Torch]

Actually if you look at the chart I just posted, when you get to below 300K it might been seen as a “peak” for a good labor market and is normally followed by a recession.

[Steamburg]

Let’s look at the number of jobs in the economy, their rate of pay, the percentage of Americans employed and compare that with where we were before Democrats took over in 2007. It’s not the same nation and the “New Unemployment Claims Number” is meaningless.
The greatest Nation on Earth and Obama has kept his campaign promise to change that.

[Wyatt's Torch]

I posted a “Claims to employees” chart before and posted it on FR. You can go to FRED and create it yourself but you won’t like the results as total number employed is at a record high...

[TomasUSMC]

Im interested in seeing what the GDP will be in the second quarter since the first quarter was DOWN 2.9 PERCENT. And that is not including the 3 PERCENT RECALCULATED INCREASE....which means it was almost down 6 percent!

And since 2 consecutive quarters is considered a recession....what will this next GDP look like?

[Red Badger]

Yes, if you had the same total employment numbers that we had before this bunch of bozos took over...................

[George from New England]

“Well then how come no one I know is working and is flat broke?”

Hi — that’s me too.

No unemployment every collected and no disability, no food stamps. Just plain struggling. Only 59, ss won’t be there in 4 years will be my dumb luck fulfilled.

What’s sinking us now is the out of control property taxes. Mortgage paid off, but over $3k per year to the county that gets us nothing.

[Kickass Conservative]

If everyone remembers, back in the Bush days of 5.5% Unemployment the Mantra was McJobs.

Nowadays, Part Time Employment has replaced Full Time Employment, yet we are loathe to hear a distinction between the two when the Numbers are reported.

Ignorance is bliss.

[George from New England]

From this chart we can see that Obama in the WH was much worse that those airplanes hitting the towers!

[Wyatt's Torch]

if you had the same total employment numbers that we had before this bunch of bozos took over...................

Well...

[Wyatt's Torch]

I don’t disagree. The “Great Recession” was far far worse than the post-9/11 recession. The recovery has also been the slowest in American history. All thanks to the most anti-business administration in American history.

[Red Badger]

Consider the source......................

[Wyatt's Torch]

Pretty amazing the press talking points. There is a reason why Rush called them the “State Run Media.”

[Wyatt's Torch]

I cannot help you then...

[Starboard]

Everyone’s finally either on welfare or disability.

************
Or has a government job.

[Starboard]

Exactly right. Its all window dressing.

[Kickass Conservative]

My Wife has been out of work for over two years.

She is in her late 50’s and she has gone on a myriad of Job Interviews. Her last three Jobs have been long term Positions, the least of which was eight years.

She thinks it’s her Age and I’m beginning to think she is right. It certainly isn’t that she is expecting a Higher Wage since she has even Interviewed for Entry Level Positions in and out of her field of expertise.

My Father always said that there will always be a Job out there, although it may not be the Job you really want or the Pay you think you deserve.

I’m beginning to wonder if what he said is still true.

[Red Badger]

If one accepts one sources single set of lies, one must accept all that source’s lies, or none at all..................

[Wyatt's Torch]

As I said, I cannot help you. Believe the numbers and what is going on in the economy or don’t. I truly don’t care. But I cannot have a discussion with someone who brings no data/analysis/information to the table. It’s a waste of my time.