In the week ending December 24, the advance figure for seasonally adjusted initial claims was 381,000, an increase of 15,000 from the previous week’s revised figure of 366,000. The 4-week moving average was 375,000, a decrease of 5,750 from the previous week’s revised average of 380,750.
The advance seasonally adjusted insured unemployment rate was 2.9 percent for the week ending December 17, an increase of 0.1 percentage point from the prior week’s unrevised rate.
The advance number for seasonally adjusted insured unemployment during the week ending December 17, was 3,601,000, an increase of 34,000 from the preceding week’s revised level of 3,567,000. The 4-week moving average was 3,598,750, a decrease of 39,000 from the preceding week’s revised average of 3,637,750.
And the closing of Sears and KMart stores is also good news. This will enable each state where the closings are going to take place an opportunity to put a lot more people on unemployment payments, which as we have been told by the administration, will create many more jobs. Win-Win. Happy Days are here again.
Yes... Thanks for pointing out this improvement...(Which, of course, doesn't comport with the b.s. from the conservatives...)
Jobless Claims in U.S. Drop to Three-Year Low in Past Month
Dec. 29 (Bloomberg) -- Fewer Americans filed applications for unemployment benefits over the past month than at any time in the past three years, a sign the U.S. labor market is on the mend heading into the new year.
The four-week moving average for claims, a less volatile measure than the weekly figures, dropped to 375,000 last week, the lowest level since June 2008, Labor Department figures showed today in Washington. Applications rose for the first time in a month in the week ended Dec. 24, climbing by a more-than- forecast 15,000 to 381,000. (Here is the out-of-context number... Enjoy...)
The jump in claims last week may say more about their volatility during this time of year than about the state of the job market, according to economists like Eric Green. Their recent decline has stoked speculation the world’s largest economy was on the cusp of showing bigger gains in employment.
“The labor market is improving,” said Green, chief market economist at TD Securities Inc. in New York. “You should expect to see stronger payroll numbers going forward.”
In my industry sales are up, but so are price increases on raw materials. A sure sign of an economic recovery, jobs tend to lag since employers might be too scared to hire full time employees. My company has also approved overtime for 2 divisions & managers are asking for staff increases.
Thomas Sowell: There are no solutions, just trade-offs.
Meanwhile, continuing claims -- which include Americans filing for their second week of claims or more -- increased 34,000 to 3,601,000 in the week ended Dec. 17, the most recent data available.
Economists surveyed by Briefing.com predict the report will show employers added 150,000 jobs in December, up from 120,000 the month before. The unemployment rate, however, is expected to rise from 8.6% to 8.7%, as discouraged workers re-enter the labor force to look for jobs again
'Tis the season - for unemployment drops in late November and December, and unemployment increases once the season is over and the Christmas return period is past its initial surge.
LadyJazzer wrote: Yes, I can see where see more of your fellow citizens out of work is more important to you than anything.
Hence, the accurate description of "sociopaths."
However, as previously posted, it would appear that the economists at Bloomberg don't see it that way. Sux to be you...
No... but it is more important to realize the truth of the matter, instead of making things up through ideological-colored-glasses. Pay attention this time... "The unemployment rate, however, is expected to rise from 8.6% to 8.7%, as discouraged workers re-enter the labor force to look for jobs again"
