Posted on 10/09/2015 4:22:26 AM PDT by John W
WASHINGTON (Reuters) - The number of Americans filing new applications for jobless benefits fell more than expected to near a 42-year low last week, pointing to ongoing tightening in the labor market despite the recent slowdown in hiring.
The data released on Thursday provides an upbeat check on the health of the labor market after last week's monthly employment report increased doubts the Federal Reserve would raise interest rates by the end of this year.
Initial claims for state unemployment benefits dropped 13,000 to a seasonally adjusted 263,000 for the week ended Oct. 3, the Labor Department said.
That was the lowest since mid-July when the number of claims was at its lowest since 1973. Hitting such a historical low is remarkable considering the U.S. workforce has grown considerably since the 1970s.
(Excerpt) Read more at finance.yahoo.com ...
No inflation. But I'd have to take out an equity loan to pay for a ribeye steak. Sticking to hamburger, as it is about all I can afford.
Probing to see how far the bullsh** will go.
People filing first time claims for unemployment benefits have been “out of work so long that they have used up their unemployment benefits?” Doesn’t compute.
That’s true. Missed the ‘first time’ part.
That’s true. Missed the ‘first time’ part.
My take. Several things are in play here:
One, the numbers are being wildly manipulated and generally represent just the fantasies of obama and his cohorts in crime.
Two, many people have just accepted their lot is to live a dull life "on the dole" as they say. They'll take their unemployment while they can get it, then their food stamps, free health care, and other assistance, and just get by on that. Witness the tremendous increases in use of food stamps and other programs.
Three, those that are managing to find a little work are working part time jobs, often off the books. This thanks to obamacare's influence on employers. So while these people are not technically unemployed... Working 2 or even 3 part time jobs just to barely make ends meet until the next crisis in your life isn't really living.
In short, thanks to obama and his fellow big government fascists/socialists the American dream has changed. No longer a steady job, spouse, kids, dog, and white picket fences. Now the dream has changed. People just want to get by week to week, month to month with enough hours to keep whatever roof they have over their heads and something, anything in their stomachs. Thanks to obama and his fellow 'rats, we are well on our way to a "fundamental transformation" alright. From a land of opportunity to one of shared misery. To all the libtards out there reading this: you s**k.
ROTFL! This is the biggest load of BS I’ve ever heard. The method of getting these figures is not the same as it was 42 years ago. Only morons believe this kind of nonsense from this government.
Aw thanks. I actually wrote it some years ago in Obama’s first term when these ridiculously unbelievable numbers started coming out in anticipation of the reelection effort.
It also predates the revelations about Lois Lerner, who easily could be an older Sally with their mutual distrust of ‘the other,’ except that Lois is old, twisted, vain, and more vile.
Didn’t even read article, but let me guess, ‘unexpected’
A good employee will be able to keep their job and only be laid off as a last resort, when this happens they usually have no problem finding another job.
A bad employee will often be kept around in great economic times because cutting overhead simply isn't a priority, but when there's a downturn they are the first to go and they will typically have a harder time finding a new job because their lack of motivation is obvious.
Regardless of the economy there will ALWAYS be certain jobs where hard-working and qualified people are in demand; however, these jobs change over time.
I absolutely KNOW that there are exceptions, and a lot of it has to do with a person's job skill and where they live, but a great many of the long-term unemployed and underemployed today really aren't people that employers want under any circumstances. What companies have done the past seven years is get rid of "dead weight" and keep it gone. What they are left with now is the workers they WANT AND NEED, so the only reason to lay anyone off is if the business itself is in real trouble.
Keep in mind that this 42 year low statistic is NEW jobless claims (e.g. people who had a job a week ago and now they don't). When companies WANT AND NEED the employees they have, they don't get rid of anyone and this is the category that most companies fall into today.
Sssshhhh! Don’t use facts; it only confuses.
I wish FR had a “like” button.
Getting up at noon and loafing around the couch with a joint or hanging out on the corner with your buds is much more preferable to getting a job and especially if the only ones available are part time and pay minimum wage - which is only half of what the government pays you for just sitting around?
I was going to risk a vanity post at one time asking the site admins to add a like feature (L. com eventually got round to it)! Not for me but just to make the site a bit more usable/social.
Except non-farm payroll, at 142.3 million, has never been higher.
Yep, back in 1963 the federal minimum wage went to $1.25 per hour. That would buy lunch for two people with change left. Now it is $7.25 and that will barely buy lunch for one at a fast food place if you’re lucky. Five dollars an hour was a dream then, I could not imagine what I would do with all that money if I ever made that much. Ten dollars an hour now is enough to support one VERY FRUGAL person who does not smoke, drink or spend money on any other non-necessities and only in a relatively low cost of living area and provided he can find a place to rent that does not consume his entire income. At ten an hour a person who smoked the same number and brand of cigarettes I used to smoke back in the late sixties or early seventies would need forty hours or more at ten an hour every month just to buy cigarettes and that is in South Carolina! I have no idea what it costs to buy cigarettes in New York or Chicago now.
Over 8 million people were added to the Social Security Disability roles, up from 2.5 million. That’s 11 million people. So, instead of unemployment, Obama added then to disability.
After the most recent tax boost, in Chicago, $13.
https://www.expatistan.com/price/cigarettes/chicago
And once the trolls get hold of it, it would be useless.
Good points; when I had my first regular job in high school minimum wage was $3.15 and cigarettes were $1.20. Never mind the price increases with groceries (attempts to hide the increases via smaller packaging fool no one); the percentage of income people pay in various TAXES is disgraceful.
Years ago I stated the writing was on the wall when Western Europeans stopped coming here; for the same burdensome taxes they could have a comparable standard of living over there (if not better, as long as they were employed). Longer vacations, shorter workdays, and “free” healthcare that is bad but comparable to what we pay for (our healthcare system really outshines theirs for wealthier people).
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