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 ...
Many have run out of unemployment benefits.
There is nothing left to claim.
All the temp jobs and part time jobs have destroyed the safety net for many. I know, as I have had real bad luck with employement the last 6 years. Age , health, foolish mistakes, ecetera, I have been rendered almost unemployable. I’m having to start over at 52. It’s hard. I could probably go for disability but I still have a lot to offer. I’m pretty damn dscouraged. I quit a job of 24 years in April 2007 for what I thought was greener pastures, then came Obama. This has really almost destroyed me.
It’s mostly my fault, my timing could not have been worse.
You got to have a job to lose it and get unemployment. Fewer people filing for unemployment means that there were fewer in the workforce to start with.
During conservative administrations.
When you’ve removed ONE HUNDRED MILLION WORKERS from the workforce, your “unemployment” numbers go down.
This report is a fraud.
okay.....one more time.....
No matter what Yellen says on the Sunday shows...
The Fed is NOT going to raise rates. Not this year. Not next year. Probably not ever. Fed printing presses are the only thing keeping the game of three card monte otherwise known as the Global Economy going.
There you go hitting them with facts again.
You know that’s not allowed in the land of the looney left.
I’ve smelled crap from this government for so long I can’t smell anything else.
If the gov can't pay back the debt, just print more money. They're good at that, when it's for themselves. Or don't pay back the loans to the fed and other big banks. Or write a budget not built on waste and corruption.
The counter clerk at a rental store I was at 2 weeks ago was a former DB admin laid off by Cargill when they hired Indians. Guess he counts as an "employed" American STEM graduate.
How many states didn’t get their numbers reported?
If you dig deep enough you eventually hit bedrock and the digging becomes much harder.
I am finding more and more and more and more individuals going on welfare AND disability. . .There are those people who “know the ropes” and fill out the forms. We have Harley riders who can’t seem to work anywhere because of disabilities hopping on their Harleys for a six pack (nothing against Harley Riders mind you. . but this is occurring in our neck of the woods), addicts on disability who can still vote and those who use repeat emergency room visits to make their cases. Believe me, I am truly an advocate for helping people and I do. . .but the fraud and abuse is staggering and is hurting those who truly deserve it. . .like our veterans for instance. I will never ever forget a pregnant 7th grader smiling from ear to ear and telling me she couldn’t wait to get her first check. . .and that was 40 years ago.
Hope things start turning up soon. Best of luck to you...
Friend if you carefully read your post I think it is obvious what is wrong with most who consider themselves conservative.
Disability should never be an option unless you are disabled and cannot feed yourself.
I don’t know about where you live but here in south central Missouri I can have you a few jobs within an hour. They may not be what you want to do, they may not offer great pay or benefits but you will be pulling your own weight providing for yourself, something that should make anyone proud.
God help us when we start to think like the recipients we despise.
I live in western Washington (Pierce County)
Your point is well made, I mentioned disability, but I prefer death to being a ward of the state.
No, I just keep going, because I pay my bills like a responsible conservative and I own up to my mistakes and try to overcome. I have had some bad luck and have also made some mistakes, I’m working at it.
Another point that goes with what you said is that even if you play by the rules when taking to the government teat in collecting unemployement and then take a lower paying job it cuts the amount you receive should you need to go back on it again because the amount you receive is calculated on your lower wage you accepted in your calculation, as a result you are punished for taking a job to get off the teat.
There is nothing more frustrating to a conservative than relying on government. That is what I scream to people when they say I should go on disability like them. It really torques me off!
Right now I qualify for unemployment but I cannot stomach going there. I have been doing what I can and taking these little jobs as you call them, and surviving despite my constant sickness in dealing with diabetes. My short comings are wholly accepted by me as a my personel problem to overcome.
My statement in was made to illustrate part of the cause in the drop of employment claims.
Sorry if it sounds like I was sarcastic with you.
I am very, very depressed and that is a terrible condition to be in when job searching.
Sorry friend I just saw your post.
I understand your position. I went from $150k per year to just making enough to feed and house my family of six. I had no debt but I lost all of my customers nearly overnight back in 2008. I took any job that I possibly could for several years just keeping food and shelter supplied. I had no debt. I sold everything that wasn’t essential. You can and will make it. Keep your head up. Do not waste time in self pity. If you like send me mail with your concerns and I will commit them to my families prayers. Keep pushing through these tough times. You will be better for them with the right mindset.
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