U.s. Weekly Jobless Claims Drop To Lowest In 5 Years

[News_Editor]

U.S. weekly jobless claims drop to lowest in 5 years < br />

2013-01-18 09:02:52 GMT+7 (ICT)

WASHINGTON, D.C. (BNO NEWS) -- Initial claims for unemployment insurance in the United States dropped to 335,000 in the week ending January 12, the lowest level in five years in what seems a good start of the year, the U.S. Labor Department (DOL) said Thursday.

The advance figure for seasonally adjusted initial claims for unemployment insurance showed a 37,000 decrease compared to the previous week's 372,000. The 4-week moving average was 359,250, a decrease of 6,750 from the previous week's revised average of 366,000.

According to the DOL figures, the jobless claims were the lowest since January 2008. Although the report signals encouraging improvements, the country must keep a steady development as the positive start in the year could gradually fade.

The DOL report also showed that the number of unemployed with unemployment insurance for the week ending January 5 increased by 0.1 percent to 2.5 percent, compared to the previous week.

There was also an increase of 87,000 in the number of workers who claimed benefits under regular state unemployment programs, totaling 3,214,000 during the week ending January 5. The 4-week moving average was 3,195,750, a decrease of 6,000 from the preceding week's revised average of 3,201,750.

In the unadjusted, advance number of actual initial claims under state programs, the Labor Department report showed a slight increase of 2,360, totaling 555,708 in the week ending January 12. There were 525,422 initial claims in the comparable week in 2012.

The highest insured unemployment rates in the week ending December 29 were in Alaska (6.9), Pennsylvania (4.3), New Jersey (4.2), Wisconsin (4.2), Montana (4.1), Puerto Rico (4.1), Connecticut (4.0), Idaho (3.9), Rhode Island (3.8), Illinois (3.7), and Massachusetts (3.7).

The largest increases in initial claims for the week ending January 5 were in New York (+37,189), Georgia (+15,354), North Carolina (+13,606), California (+8,691), and Texas (+8,669), while the largest decreases were in Michigan (-12,536), New Jersey (-5,530), Oregon (-5,471), Ohio (-4,915), and Kentucky (4,257).

-- © BNO News All rights reserved 2013-01-18

[Sing_Sling]

It's all a fraud to get Obama re-elected . . .

Oh . . .

[Credo]

No, it's a deflection from the Benghazi Scandal and somewhere there is an angle to prevent people from noticing that all 300++million guns will be taken away by the government, which will then declare a dictatorship......

Oh, wait, maybe I am going off-topic.. Sorry.

[geriatrickid]

Oh, I thought it was a result of the continuing recovery due to the President's calm and intelligent approach to a crisis.

So much for Romney's claims of doom and gloom.

[PTG]

Often the revision are bigger than the number The this is sneaked in down the track as the revision of the revision and all the eyes are on the latest fake number.

It is a bit like Yinlucks White Lie policy

[F430murci]

Haha, sounds as if you guys are disappointed by US economy being on track. Market was above 13,600 yesterday, banks are close to resolving CMO crisis (BofA actually did it at about 1/2 of the 100 billion reserved for it), housing beginning to recover, gas prices retreating, and things seem pretty positive over here. Money and credit is loosening and people are going back to work. No reason to fake numbers and MOST Americans could give a hoot less about Benghazi or gun control. Both are pretty much non issues in US except for those vocal few at the extreme ends of the spectrum and some 24 hour news channels desperate for ratings. I would imagine the weather channel has way more viewers than those cheesy news channels examining all angles of the gun debate.

[Sing_Sling]

I think it's brilliant news - and a slap in the face of those who can't stand having Blackenstein (as per Jon Stewart) as President.

[dighambara]

Oh, I thought it was a result of the continuing recovery due to the President's calm and intelligent approach to a crisis.

So much for Romney's claims of doom and gloom.

Thousand of people a month reach the end of their unemployment insurance and still haven't found a job (BTDT), so the numbers of unemployed increase, while the unemployment rate drops...

[curtklay]

A drop in jobless claims does not mean people have gone back to work. People who have run out of benefits drop out of the statistics, and into oblivion. The long term unemployed are no longer counted, making the statistics very misleading.

[Credo]

The same method of keeping track of statistics has been in place for a long time. I believe that during the recent agreement over financial concerns, the financial cliff, it was agreed to continue with an extension of unemployment benefits.

[hhfarang]

The number the article is talking about is a drop in "initial claims" for unemployment. Those are people who just lost their jobs and started claiming unemployment. It has nothing to do with how many unemployed people there are which is estimated to be around 15% at the moment if you use real numbers of people who want a full time job and can't find one.

All the article is saying is that less people lost their jobs than in previous weeks. Still not very good news. The GAO (Government Accounting Office) released a report on Friday essentially saying that at the current rate of government spending/borrowing vs revenue, the value of the dollar will totally collapse within 10 years. That will reek havoc on the entire world economy.

So don't go high fiving Mr. Obama just yet.

[chuckd]

The U-6 unemployment rate for December 2012 is 14.4%. Hardly a ringing endorsement for the current policies.

Edit to add link: http://www.bls.gov/news.release/empsit.t15.htm

Edited January 21, 2013 by chuckd

[F430murci]

The U-6 unemployment rate for December 2012 is 14.4%. Hardly a ringing endorsement for the current policies.

Edit to add link: http://www.bls.gov/news.release/empsit.t15.htm

Haha, citing U-6. U-6 includes people working part time for economic reasons. Perhaps if Bush had not destroyed economy leading to the marketing tanking, a lot of fixed incomers out there would not now be short and considering part time work. Sad part is all of the fixed incomers that rotated from equities to bonds in 2008/2009 instead of waiting it out and those stuck in hedge funds or bond funds heavily weighted in CMOs, CDOs, junk bonds and munis. That is greed on their part though seeking those 18 % plus returns. I have arbitrated about 300 of these . . .

Fact is, things are pretty good here. My little lazy beach town has off the chart best years ever tourist figures and my other residence in hugely progressive city is rocking out economy wise. Housing market looking solid, home values are crazy high and being sold, lots of new commercial construction and a massive new convention center and hotel going in as we speak.

Stock market closed above 3,600 Friday, gas coming down, companies hiring again and etc. The only thing holding the economy back, now that banks have all resolved securitized mortgage issue, is stupid debt ceiling and budget dead lock which most people don't really care about as evident in Dow numbers.

[chuckd]

The U-6 unemployment rate for December 2012 is 14.4%. Hardly a ringing endorsement for the current policies.

Edit to add link: http://www.bls.gov/n.../empsit.t15.htm

Haha, citing U-6. U-6 includes people working part time for economic reasons. Perhaps if Bush had not destroyed economy leading to the marketing tanking, a lot of fixed incomers out there would not now be short and considering part time work. Sad part is all of the fixed incomers that rotated from equities to bonds in 2008/2009 instead of waiting it out and those stuck in hedge funds or bond funds heavily weighted in CMOs, CDOs, junk bonds and munis. That is greed on their part though seeking those 18 % plus returns. I have arbitrated about 300 of these . . .

Fact is, things are pretty good here. My little lazy beach town has off the chart best years ever tourist figures and my other residence in hugely progressive city is rocking out economy wise. Housing market looking solid, home values are crazy high and being sold, lots of new commercial construction and a massive new convention center and hotel going in as we speak.

Stock market closed above 3,600 Friday, gas coming down, companies hiring again and etc. The only thing holding the economy back, now that banks have all resolved securitized mortgage issue, is stupid debt ceiling and budget dead lock which most people don't really care about as evident in Dow numbers.

Congratulations. Run out and buy another Lamborghini.

[F430murci]

The U-6 unemployment rate for December 2012 is 14.4%. Hardly a ringing endorsement for the current policies.

Edit to add link: http://www.bls.gov/n.../empsit.t15.htm

Haha, citing U-6. U-6 includes people working part time for economic reasons. Perhaps if Bush had not destroyed economy leading to the marketing tanking, a lot of fixed incomers out there would not now be short and considering part time work. Sad part is all of the fixed incomers that rotated from equities to bonds in 2008/2009 instead of waiting it out and those stuck in hedge funds or bond funds heavily weighted in CMOs, CDOs, junk bonds and munis. That is greed on their part though seeking those 18 % plus returns. I have arbitrated about 300 of these . . .

Fact is, things are pretty good here. My little lazy beach town has off the chart best years ever tourist figures and my other residence in hugely progressive city is rocking out economy wise. Housing market looking solid, home values are crazy high and being sold, lots of new commercial construction and a massive new convention center and hotel going in as we speak.

Stock market closed above 3,600 Friday, gas coming down, companies hiring again and etc. The only thing holding the economy back, now that banks have all resolved securitized mortgage issue, is stupid debt ceiling and budget dead lock which most people don't really care about as evident in Dow numbers.

Congratulations. Run out and buy another Lamborghini.

Lambos are luxuries of a higher education and knowing how to invest, all factors in staying off U-6.

Edited January 21, 2013 by F430murci

[Sing_Sling]

The U-6 unemployment rate for December 2012 is 14.4%. Hardly a ringing endorsement for the current policies.

Edit to add link: http://www.bls.gov/n.../empsit.t15.htm

Haha, citing U-6. U-6 includes people working part time for economic reasons. Perhaps if Bush had not destroyed economy leading to the marketing tanking, a lot of fixed incomers out there would not now be short and considering part time work. Sad part is all of the fixed incomers that rotated from equities to bonds in 2008/2009 instead of waiting it out and those stuck in hedge funds or bond funds heavily weighted in CMOs, CDOs, junk bonds and munis. That is greed on their part though seeking those 18 % plus returns. I have arbitrated about 300 of these . . .

Fact is, things are pretty good here. My little lazy beach town has off the chart best years ever tourist figures and my other residence in hugely progressive city is rocking out economy wise. Housing market looking solid, home values are crazy high and being sold, lots of new commercial construction and a massive new convention center and hotel going in as we speak.

Stock market closed above 3,600 Friday, gas coming down, companies hiring again and etc. The only thing holding the economy back, now that banks have all resolved securitized mortgage issue, is stupid debt ceiling and budget dead lock which most people don't really care about as evident in Dow numbers.

Congratulations. Run out and buy another Lamborghini.

Clever retort!

[chuckd]

Congratulations. Run out and buy another Lamborghini.

Lambos are luxuries of a higher education and knowing how to invest, all factors in staying off U-6.

If you had two Lambos, you could change your forum name to "F430-murci-murci". 55.

[JDGRUEN]

Yes - Everything is just 'Rosy' on the U.S. Job Front ...

"Five years ago, before the recession began, about 2.5 million people said they wanted a job but hadn't searched for one in at least a year. Now, that number is about 3.25 million."

http://money.cnn.com/2013/01/04/news/economy/hopelessly-unemployed-workers/index.html?iid=EL

Nearly nine million workers now collecting Social Security Disability - More people put on Disability than jobs created ...

December 2012 sees record number of disabled workers

http://knowledgebase.findlaw.com/kb/2013/Jan/720744.html

Just Rosy ...