Posted on 04/21/2016 8:59:13 AM PDT by Nachum
The number of Americans filing for unemployment benefits unexpectedly fell last week, hitting its lowest level since 1973, suggesting an apparent sharp slowdown in economic growth in the first quarter could be temporary.
While another report on Thursday showed a mild weakening in factory activity in the mid-Atlantic region in April, manufacturers were fairly upbeat about business prospects in the next six months. This, together with labor market buoyancy bodes well for a pick-up in economic growth in the second quarter.
"The labor market continues to improve. If the apparent slowing in GDP in the first quarter was truly a sudden change in trend, we should have seen something happen in claims by now," said Jim O'Sullivan, chief U.S. economist at High Frequency Economics in Valhalla, New York.
Initial claims for state unemployment benefits declined 6,000 to a seasonally adjusted 247,000 for the week ended April16, the lowest reading since November 1973, the Labor Department said. Economists polled by Reuters had forecast claims rising to263,000 in the latest week.
Jobless claims have now been below 300,000, a threshold associated with healthy labor market conditions, for 59 weeks, the longest stretch since 1973. Labor market strength comes despite signs that growth stumbled in the first quarter.
(Excerpt) Read more at reuters.com ...
Headling straight from the Ministry of Propaganda.
Well, with over a 3rd of the working population out of the labor force, the remaining dwindling workforce can only generate so many new jobless claims. Once everyone is jobless, the new jobless claims will be 0. Think about it.
It’s a little hard to believe this.
Back during the Reagan’s first term, we were constantly being told that there was so much hiring that “wage inflation” was a concern, because companies in need of employees were competing for a fixed supply of workers.
So true; if any of these reports were real Trump and Sanders would be polling at .1%...
Bulls**t... Been out of work since December...
Must be Obamanomics-Vote for the Hildabeast.
Liars figure and figures lie....
Tell the big lie often enough...
We have an increased numerator, but what about the denominator?
What is the total size of the labor force now? How does it compare to years past?
Uh . . . duh . . . isn’t this figure for FIRST TIME jobless claims? I think it is. Which means that about everyone else that is unemployed has already filed a claim. Who really could be left at this point?
BLS BS..................
The “labor market” is not “continuing to improve” it is continuing to sharply contract. The fewer people actually in the market, the fewer that will file for unemployment. We are changing the market itself by contracting it. We are measuring filings from a greatly contracted market, then applying that, in the way it gets reported, to the general population as a whole. But fewer and fewer in the general population are actually a part of the labor market as more and more permanently leave the market. That makes this kind of data useless for anything except propaganda - believe what our data says not what you see with your lying eyes.
Bust of luck to you...
As much truth in that as the glow-bull discombobulation theories.
I don’t understand how anyone can believe this. Not the only thing I don’t understand.
The most overused descriptor in the job reports.
They will use this “data” to try to convince us to allow amnesty for all illegals, since there will be so many jobs that need to be filled.
U.S. jobless claims hit 42-1/2-year low as majority of potential workers stop looking for work
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