New Unemployment Claims Drop to a 50-year Low

Marketplace ^ | 11/24/2021 | Samantha Fields

[DoughtyOne]

​A whole bunch of data about the economy was released Wednesday — a day early
because of Thanksgiving — and a lot of it was positive.

​We learned that the Federal Reserve is bullish on the economy’s prospects
through the end of next year. In the minutes of the Open Market Committee
meeting earlier this month, the central bank’s staff predicts gross domestic
product will post “sizable” gains this year and next.

​Some of Wednesday’s news was a downer — consumer confidence fell to its
lowest point in a decade, according to the University of Michigan. And the
personal consumption expenditures price index showed that inflation’s running
at 4.1%.

​But a lot of other news was good: ​Household spending was up in October, and
first-time unemployment claims were just 199,000 — the lowest they’ve been
since the pandemic began.

But not just that. The Department of Labor noted that’s also the lowest they’ve
been since 1969.

“My first reaction is wow,” said Mark Hamrick, a senior economist at Bankrate.

Despite his own initial reaction, Hamrick said it’s also true that a single week
of unemployment numbers doesn’t really tell us all that much. Nor does comparing
today’s economy to the one way back then.

“The economy has obviously been massively transformed since 1969,” he said. “And
so this just tells you that it is not very often that we see a new jobless claims
number that has a one handle on it.”

Even though it is just one week of data — and could well be adjusted upward later —
it does fit into the big picture trend: (Paraphrased) Unemployed numbers are dropping.

[DoughtyOne]

Yes, I agree with that.

That’s why I’m trying to protect myself from being controlled.

I have power and food pretty much sewn up, for six months
ahead. I need to do better. It’s not that hard to grow
things. Beginning to grow my own vegetables is something
I want to get into.

Water is a problem.

I need to get myself a small plot of land somewhere and
establish my own dwelling where I can have water collection
and a cistern.

Then I can store some food ahead and grow other food
staples on the property. I’d also like a room set up
with lights where I could grow some things year around.

[ding_dong_daddy_from_dumas]

I am not sure what would happen if Kamela resigned before the 2022 midterms, Biden nominated Susan Rice as VP, and the confirmation vote tied in the senate. Without a VP in office, Pelosi would be a temp VP casting the tiebreak vote?

Of course it's likely that before that, dems could bribe Romney, Murkowsky, etc. to avoid a tie. They don't want to wait until after the midterms and a new congress is sworn in.

[Cboldt]

25th amendment ... 2. Whenever there is a vacancy in the office of the Vice President, the President shall nominate a Vice President who shall take office upon confirmation by a majority vote of both Houses of Congress.

[Varsity Flight]

Nice Free Republic web page.

Your free!! 💫📖

[ding_dong_daddy_from_dumas]

Yes, but what happens if the confirmation vote ties in the senate.? At what point does the VP leave office after resigning?

[DoughtyOne]

Thank you...

[Cboldt]

The confirmation vote is not in the senate. The confirmation vote is all of Congress. No provision is made for tie vote. Separate, and not pertinent here, nothing says VP casts a vote when the decision is by all of Congress.

In other words, status of VP is irrelevant when a VP vacancy is being filled.

The trigger is vacancy, not notice of resignation.

[Cboldt]

Wait a sec ... “Majority vote of both houses of Congress” is not a joint vote. It is two votes, one in House, and one in senate.

My guess is that if there is a tie, there is not approval. The playersknow this, and will twist arms to avoid a tie. If there is a persistent tie, need to pick another nominee.

There may be an acting VP. That would be set by statute.

[ding_dong_daddy_from_dumas]

Thanks for the reply. I don’t think there has ever been a tie senate vote for VP confirmation. RINOs would make a tie vote less likely.

[Repeal The 17th]

“...if Kamela resigned...Pelosi would be a temp VP...”
Not true.
There is no line of succession for the office of Vice President.

[ding_dong_daddy_from_dumas]

Maybe the Constitution is unclear about tiebreaks in such a case.

[Repeal The 17th]

“...Maybe the Constitution is unclear...”
No.
It is not unclear.
There is no line of succession for the office of Vice President.

[ding_dong_daddy_from_dumas]

You should read my post before you reply. I was talking about tiebreaks on the confirmation vote.

[Repeal The 17th]

If there is no vice president,
then there is no vote in the senate for the vice president.
Do you not remember when Agnew resigned,
and Nixon appointed Ford?
There would be no tie-breaker in such a case.

[ding_dong_daddy_from_dumas]

True, Nixon nominated Ford for VP. I am not sure what would have happened if either the House or Senate confirmation vote had been a tie. Maybe they would have to keep voting until either one side received a majority, or Nixon would have to nominate somebody else.

[Svartalfiar]

If they used it up, they wouldn’t be considered a New claim. So you’re wrong.

You can be considered a new claim quite a lot. Continuing claims are defined as someone who's had two weeks in a row of UI. So if you work an oddjob one week and don't qualify for UI, the next week you get UI is a "new claim". If you run out of benefits, work a job and gain entitlement to more UI and then go on it, that's a "new claim" also.

But my original point is completely correct - if they used it up their account entitlement, then don't get any more, so they don't count as any kind of claim. Which is part of why the UI numbers are dropping - people aren't necessarily finding work, they're dropping because they're no longer eligible cause they used up their State and Federal benefits.