Posted on 11/26/2014 11:22:09 AM PST by SeekAndFind
WASHINGTON-The number of Americans seeking first-time jobless benefits leapt last week but remained at a level suggesting steady job growth.
Initial jobless claims rose 21,000 to a seasonally adjusted 313,000 in the week ended Nov. 22, the Labor Department said Wednesday. Economists surveyed by The Wall Street Journal had expected 289,000 new claims.
Updated figures put the prior week's level at 292,000, up from an initially reported 291,000.
Last week's spike marked the first time since early September that new claims exceeded 300,000.
Jobless claims are volatile, tending to fluctuate week to week. The four-week moving average of jobless claims, which smooths weekly fluctuations, climbed 6,250 to 294,000.
Despite last week's climb, claims remained near postrecession lows, a sign the U.S. labor market continues to heal amid the longest stretch of job growth since at least World War II.
Initial jobless claims spiked to 665,000 toward the end of the recession in 2009 but have steadily come down since.
Employers have added an average 229,000 jobs a month this year, a pace strong enough to bring unemployment down quickly. The jobless rate fell to 5.8% in October from 7.2% a year earlier.
Marketwatch Headline:
Jobless claims surge to 11-week high
Obamacare offers firms $3,000 incentive to hire illegals over native-born workers....
Under the president’s new amnesty, businesses will have a $3,000-per-employee incentive to hire illegal immigrants over native-born workers because of a quirk of Obamacare.
http://www.washingtontimes.com/news/2014/nov/25/obama-amnesty-obamacare-clash-businesses-have-3000/
And yet I still have leftist trying to pawn off the “unemployment rate” as being some remarkable Obama success!
It would have to be the first time in American history with a low unemployment rate, where everyone is miserable, and most people cant find work.
Just think what it would be like if you dump millions of Mexicans onto that.
Or, another explanation could be that the 'recovery' has run its course, and we are witnessing the beginning of the next recession. Obama hasn't unilaterally outlawed recessions, has he?
The Media “But”-boys are at it again with their usual (un)expectorations…
In the future it will be so much more fair to make the jobless numbers just with the newly amnestied... especially with their former components dwindling in comparative numbers.
Right AFTER the elections. Before it was all roses and unicorns.
313K is equal to 40 Celsius.
Obviously caused by global warming.
Four week moving average.
More leading from behind. Just call it what it is.
Since ‘’jobless claims are volatile, tending to fluctuate week to week,’’ why do the so-called experts continue to make predictions about them only to almost always embarrass themselves week to week by being wrong?
And why does the Bureau of Labor Statistics continue to measure jobless claims weekly instead of monthly, if weekly statistics are so volatile that don’t seem to matter?
Maybe because they really do matter.
Physicians take their patients’ temperatures daily so that they can detect and treat indications of worsening illnesses quickly. Who ever heard of a responsible doctor brushing off a sudden unexpected rise in a patient’s temperature by simply remarking that temperatures fluctuate, instead of finding out why and addressing the cause?
As for jobless claims, how else would the Chairperson of the Federal Reserve know if a new recession was upon us early enough to make changes to interest rates in order to try to stop it in its tracks, unless such claims were published every week? And would a responsible Federal Reserve Chairperson brush off a sudden, unexpected jobless-claims rise like the author of this article does without finding out why and addressing the cause?
Numbers are beginning to really be insignificant IMO.....because they are tweaked to however they want the perception to be.
Wonder how much that will change after the Holiday hires are no longer needed.
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