http://data.bls.gov/timeseries/LNS11300000
Posted on 07/23/2015 8:13:21 AM PDT by SeekAndFind
The July jobs report could be a monster.
On Thursday, the Department of Labor reported that initial claims for unemployment insurance plunged by 26,000 to 255,000, the lowest level since November 24, 1973.
That's nearly 42 years ago, or when Richard Nixon was US president, or before Greek prime minister Alexis Tsipras was born.
The important thing, however, is that this data came during the week that the Bureau of Labor Statistics conducts the survey for the monthly jobs report, which we'll get in just over two weeks on Friday, August 7.
In July, the economy added 223,000 jobs and the unemployment rate fell to 5.3%, the lowest level since April 2008. The May jobs report, which initially saw 280,000 jobs created, followed an initial claims number during the survey week — 275,000 — that was notably low.
And so not only does Thursday's number indicate a strong labor market on its own, but we could be looking at a blowout jobs number in a few weeks that could set the table, potentially, for rate hikes later this year.
Everyone from economists to the Federal Reserve is paying close attention to labor-market data for clues on when the Federal Reserve will raise interest rates, with markets seemingly divided on whether the Fed will first raise rates in September or December.
(Excerpt) Read more at businessinsider.com ...
UNEXPECTEDLY!!
If there are so many jobs, why do we still have welfare?
It's astounding that those in charge don't get it. Or don't care.
Even if it is a ‘blowout’ number, given the Intel and Disney laying-off Americans in favor of H1B’s, will these newfound jobs be populated with American citizens?
I wonder.
All phoney manipulation of numbers. So many are unemployed and/or are only able to find part-time work.
Not something to brag about.
Let’s see ... Part-time burger-flippers and lawn-mowers ... New government workers hired to make the jobs report look good ... Maybe a couple of “real jobs” in there someplace.
No. No one with any sense believes this stuff.
....says left-leaning BI.
Those in charge “get” that when there are rate hikes on savings, there are also rate hikes on loans, which correspondingly jumps what the Federal government has to pay in interest on the national debt.
re: Let’s see ... Part-time burger-flippers and lawn-mowers ...
I’d really like to see how the soon to be implemented $15/hour minimum wage affects hiring for these jobs in San Francisco and NYC.
Does this government ever report bad numbers? Didn't think so... ;)
It’s like watching “Vremya” in the old Soviet Union every night talking about record harvests.
The Federal reserve has to follow thru with a rate hike to show their policy of dropping rates spurred a recovery, even if it didn’t. Sort of like taking a patient off of life support to show they’re better; if if they aren’t.
Welcome to the Tinker Bell “recovery” where it’s a recover if everyone believes.
Believe Nothing that comes out of the Obama Admin
An apt and fitting comparison.
In July, the economy added 223,000 jobs and the unemployment rate fell to 5.3%???
It was my understanding that the economy requires about 350,000 JOBS created every month just to BREAK EVEN!!
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