Posted on 03/05/2015 7:31:58 AM PST by SeekAndFind
Initial jobless claims unexpectedly jumped to a nine-month high last week, an indication that severe winter weather could be putting a temporary freeze on the labor market's recovery.
About 320,000 people filed for first-time unemployment benefits last week, up 7,000 from the previous week, the Labor Department said Thursday.
Economists had been expecting claims to fall to 300,000. Claims below that level indicate a strong labor market.
Private sector added 212,000 jobs last month, down from January, ADP says Private sector added 212,000 jobs last month, down from January, ADP says In another read on the jobs market, planned layoffs by U.S. businesses were down 5%, to 50,579, in February from the previous month, career counseling firm Challenger Gray & Christmas Inc. said Thursday.
But announced layoffs are running higher this year than last year, the firm said.
The weekly jobless claims figure can be volatile, but last week was the second straight jump and brought claims to their highest level since May.
The less-volatile four-week average rose by 10,250, to 304,750.
The recent upward trend probably was caused by bad winter weather, particularly in the eastern U.S., said Ian Shepherdson, chief economist at Pantheon Macroeconomics. Snowstorms can lead some businesses to temporarily lay off workers.
Claims have been running below 300,000 for most of the previous six months as job growth has picked up.
(Excerpt) Read more at latimes.com ...
Well, the upper Midwest and Northeast has experienced one of the coldest winters on record, with brutal cold days in Chicago and unprecedented snow in Boston. No wonder job numbers are down—who’s going to hire in this bad weather?
Global warming strikes yet again!
Never mind, I know. January 20, 2017.
Let me get this straight. I’m a business owner who’s business is expanding, but I’m not going to hire or move my expansion forward because... it’s cold outside?
Wow.
There’s that word again: Unexpected!
...unexpectedly...
But, but, but this was “unexpected” doncha’ know?
Why is everything “unexpected” with these clowns?
We have a marxist in the White Hut and they expect growth?
This time thy have the same excuse as the last time — IT’s THE WEATHER.
Anecdotally I am hearing of A LOT of layoffs in this area.
Winter is going to end in a few weeks.
What will their excuse be then?
RE: Anecdotally I am hearing of A LOT of layoffs in this area.
Where in this great country is that?
In these reports, the word “unexpectedly” has become a national joke but these liberal fools don’t even realize it.
Perhaps, like [satire], we need a [propaganda] tag.
This article was written in FR comments weeks/months ago.
I heard on the radio yesterday the number of 'jobs added' and thought, "I wonder what that propaganda is preparing us for"...go figure.
Let me see:
there are about 95Million Taxpayers (people with JOBS)
there are about 50 Million on Food Stamps (No Jobs)
there are about 102 Million eligible people not Working(25-64)
And what is the Official Unemployment rate?
...Drink!!
I guess the plow poeople have something to do! Although they most likely got hired back in autumn though.
The statistic I would like to see is the percentage of months people who have filed for jobless claims have been employed since January 2009.
I suspect we have a lower class that is either unemployable or knows they do not have to work to survive. To gain eligibility for unemployment benefits for 99 weeks one only needs to work for thirteen weeks.
I used to live in Massholachusetts and would stop to purchase a lottery ticket after work on Tuesdays, Wednesdays, Fridays and on Saturdays. There was a guy at the convenience store one day who admitting to hiring friends to work at his business for about three months and then laying them off because of “lack of work”. Those people would file for unemployment benefits. He would then hire another friend when business had an uptick the next week.
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