U.S. jobless claims [390,000] fell in latest week

Biz.Yahoo/Reuters ^ | August 7, 2003

[Starwind]

U.S. jobless claims fell in latest week
Thursday August 7, 8:32 am ET

  WASHINGTON, Aug 7 (Reuters) - U.S. Labor Department
report of initial state jobless benefit claims, seasonally
adjusted.
Week Ended   Initial Claims  4-Week Avg.   Continued Claims
 08/02/03       390,000       397,250         Unavailable
 07/26/03       393,000-r     410,000-r       3,691,000
 07/19/03       391,000       420,500         3,619,000-r
 07/12/03       415,000       424,750         3,583,000-r
 r-revised
 REVISIONS:
 INITIAL CLAIMS: July 26 from 388,000
 FOUR-WEEK AVG: July 26 from 408,750
 CONTINUED CLAIMS: July 19 from 3,648,000; July 12 from
3,585,000
 STATES WITH DECREASE IN CLAIMS OF MORE THAN 1,000:
 There were 19 states and Puerto Rico that reported a
decrease in claims of more than 1,000 in the week ended July 26,
the latest period for which the data are available. Among the
largest were:
 North Carolina       -12,749
 Michigan              -9,749
 Ohio                  -6,802
 California            -4,788
 STATES WITH INCREASE IN MORE THAN 1,000:
 There were no states that reported an increase in claims of
more than 1,000 in the week ended July 26, the latest period for
which the data are available. 
 FORECAST:
 Reuters survey of U.S. economists forecast:
 U.S. jobless claims 395,000 in the week ended Aug 2
 HISTORICAL COMPARISONS/NOTES:
 U.S. jobless claims were the lowest since 378,000 in
the Feb. 8, 2003, week, while the four-week average was the
lowest since 394,000 in the Feb. 15, 2003, week.
 The insured unemployment rate, a measurement of the work
force receiving unemployment benefits, was 2.9 percent in the
week ended July 26, unchanged from the prior week.
 The department said 836,793 individuals filed for the
government program that extended unemployment benefits in the
week ended July 19, down from 836,911 in the prior week.
 North Carloina reported fewer layoffs in the electrical
equipment, transportation equipment, lumber/wood, furniture,
textile and apparel industries. Michigan had fewer layoffs in
automobile and related industries. California said it had fewer
layoffs in the service industry. Ohio had no comment.

[Redleg Duke]

Could it be Tiny Tommy?

[Trust but Verify]

That is not the case at all in Illinois or in Wisconsin. There are also rules in Wisconsin that they cannot make you take a job inferior in pay to the job you held previously.

[arete]

Well, then again, maybe not.

"'While I believe these cuts are necessary, I hate doing this,' Murphy said, his voice breaking and his eyes moist during a news conference in his office yesterday."

City lays off record number of workers

Richard W.

[blackbirdphleps]

Oh Joy!

I feel sorry for the poor Tom, Dick and Harry that their unemployment ran out.

Figures always look good on paper just wished thoses guys that made those numbers look real pretty had a clue what was going on in the real world.

Guess I need to buy some bullets for the rifles so my hubby can go out hunting those wild animals. Anyone got a good recipe for wolf stew?

Guess I need to hunt up an old man that survived the depression for some good recipes. I didn't really like eating rock stew back in the 80's

[Lazamataz]

Don't get Willie Green on my a&&. ;^) If there were 10,000 new jobs and one layoff, Willie would post the layoff.

[arete]

If there were 10,000 new jobs

Well, even though the rate of job loss appears to be decreasing, we have yet to start creating a single new job. Reality is such a downer.

Richard W.

[Lazamataz]

Well, even though the rate of job loss appears to be decreasing, we have yet to start creating a single new job. Reality is such a downer.

They created mine.

So you are off by one job so far.

[scottlang]

THis is all well and good. But there are still a whole lot of people out there who are unemployed and underemployed. THis has to get better for Bush to win next year.

[arete]

You are a special situation no doubt, and also explains the big jump in productivity. :-)

I'm referring to the big picture, and that still has not changed.

Richard W.

[prairiebreeze]

Hmmm. My friend lives in Illinois.....I have no reason to disbelieve her and distinctly remember about the possibility of a case audit to make sure she was following the requirements.

??

Prairie

[Trust but Verify]

My sister went out of state for consecutive weeks during her time on unemployment and her benefits were not stopped. I know she has to do some sort of 'job search', but she doesn't have to report to anyone in person nor does she have to go and do interviews, etc. She at most has to put out resumes or job applications and report to the state where she has applied. She is under no obligation to take a job like at McDonald's or something, just to have a job. She's sitting on her big fat liberal a$$ all summer with her kids.

[Trust but Verify]

make that 3 consecutive weeks.

[JNB]

The retailers for the next 3 months or so will be fueld by the re-fi money, as they were in the last few months, so Q3 could very well be 3% +, but barring a steep decline of the bond yeild to below 3.7%, re-fis will remain dead, and that vital source of capital to consumers will remain closed. The added employment from construction and retail is directly tied to artifically low intrest rates.

[Starwind]

Various reports have said the retailers had easier comparisons and that July rose because of consistent good weather nationwide.

Did you see the reports of a surprising decline in consumer credit card debt? Consumer Credit Has Surprise Drop in June

[blackbirdphleps]

THis is all well and good. But there are still a whole lot of people out there who are unemployed and underemployed. THis has to get better for Bush to win next year.

OH! What you mean it's next year?????
Wonder if it's going to become a cirus like last election.

[Richard Kimball]

Oh man, this is bad news. I mean if people are working then like, the environment will get all messy, and Ahnald might get elected gov in California and Bush would win re-election and Hillary's eyes might bug all the way out of her head and start crawling across the Senate floor and Schumer might pick one of them up and put it in Ted's martini for a joke and Ted would think it was the ghost of Mary Jo and have a heart attack even though he jogs five miles a day and the democrats in New Mexico might hear about it and get depressed and well, you see how terrible it could be?