Posted on 05/13/2016 5:16:58 AM PDT by expat_panama
Applications for unemployment benefits unexpectedly increased last week to the highest level since February 2015, a sign that progress in the U.S. job market is moderating.
Initial jobless claims rose by 20,000 to 294,000 in the week ended May 7, a report from the Labor Department showed Thursday. The median forecast of economists surveyed by Bloomberg called for a decline to 270,000.
The figures signal a more modest recovery lies ahead...
...The labor market is looking pretty healthy and thats going to continue.
Claims Still Below 300,000
For 62 consecutive weeks claims have been below the 300,000 level...
...Continuing Claims
The number of people continuing to receive jobless benefits rose by 37,000...
...Initial jobless claims reflect weekly firings, and a sustained low level of applications has typically coincided with faster job gains. Layoffs can also reflect company- or industry-specific causes, such as cost-cutting or business restructuring.
A report last week showed that U.S. employers added 160,000 workers to their payrolls in April, the fewest since September and well below economists median forecast.
Another report from the Labor Department showed import prices rose 0.3 percent for a second month in April, largely reflecting a pickup in petroleum and food. While industrial supply costs increased, prices declined for consumer and capital goods made overseas.
(Excerpt) Read more at investors.com ...
The IRS takes a very dim view of business owners who try to change an employment status to independent contractor. It can be done, but there are very strict rules about it.
Been there.
I worked as a contractor for several years...I worked through a contract shop that withheld my state unemployment deduction.
If I had been laid off, I would’ve been eligible for compensation...
Fortunately, I have never been laid off...I have always been able to find a position while still working...
Lol! It’s good to see it again,though unexpected!
They’re just ramping-up for the REP President in a few months. It’d look too ‘suspicious’ if they covered all the way up to the election THEN opened the cans-o-worms.
LOL! It was in the headline and as much as I hate the old saw I really didn't want to change the story I was posting.
Most folks --especially on these threads-- don't know (or don't want to know) that most reported stats come out like they're expected to, and the unexpected is better as often as it's worse.
LOL at the headline... IBD use to be pretty good.
Apparently this party trick of placing words in the the mouths of others and then reacting to (or mocking) that which you, not the poster, have said is amusing to you in some way.
Nothing unexpected when food stamps are threatened because the unemployment is low. Of course it’s going to go up. It will never go below the threshold set by the GivesDemDatsToKeepsDaPower.
Aw, it still is. The thing is that claims this time did in fact come in "higher than expected" while you, me, and IBD are fully aware that they come in lower than expected just as often and that they're still lower than we had any time between 2002 and 2008.
Statistic | Actual | Briefing Forecast | Market Expects |
Initial Claims | 294K | 267K | 270K |
Unexpected!
*DRINK* ;)
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