New Unemployment Claims Drop Unexpectedly

jillian

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Apr 4, 2006
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The Other Side of Paradise
So maybe there's something to this stimulus thing saving jobs....

In the week ending Feb. 28, the advance figure for seasonally adjusted initial claims was 639,000, a decrease of 31,000 from the previous week's revised figure of 670,000. The 4-week moving average was 641,750, an increase of 2,000 from the previous week's revised average of 639,750.

ETA Press Release: Unemployment Insurance Weekly Claims Report

WASHINGTON — The number of new jobless claims and the total number of people receiving unemployment benefits both dropped more than expected last week, though they remain at elevated levels and are unlikely to fall substantially in the coming months.

Few economists expect a turnaround in the battered labor market anytime soon with companies laying off thousands of workers weekly.

Still, the tally of initial requests for unemployment benefits fell to 639,000 from the previous week’s figure of 670,000, the Labor Department said today. Analysts expected a smaller drop to 650,000.

New jobless claims unexpectedly drop to 639,000 | Freep.com | Detroit Free Press
 
You know the old saying, Jill.

A decrease of 31,000 from the previous week's revised figure of 670,000 does not a summer make.
 
You know the old saying, Jill.

A decrease of 31,000 from the previous week's revised figure of 670,000 does not a summer make.

No kidding.

I hope the stimulus money does some good but my gut says it's going to get worse before it gets better.

If I lose my job I will either join the Marines or go home and help out there so I will be ok, but so many folks are going to be screwed if they lose their jobs. I pray for this to get better soon.
 
amanda i think we will have to look until summer, late may at least before the stimulus starts making headway.
 
You know the old saying, Jill.

A decrease of 31,000 from the previous week's revised figure of 670,000 does not a summer make.

No kidding.

I hope the stimulus money does some good but my gut says it's going to get worse before it gets better.

If I lose my job I will either join the Marines or go home and help out there so I will be ok, but so many folks are going to be screwed if they lose their jobs. I pray for this to get better soon.

So do we all, babe, so do we all.
 
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So maybe there's something to this stimulus thing saving jobs....

In the week ending Feb. 28, the advance figure for seasonally adjusted initial claims was 639,000, a decrease of 31,000 from the previous week's revised figure of 670,000. The 4-week moving average was 641,750, an increase of 2,000 from the previous week's revised average of 639,750.

ETA Press Release: Unemployment Insurance Weekly Claims Report

WASHINGTON — The number of new jobless claims and the total number of people receiving unemployment benefits both dropped more than expected last week, though they remain at elevated levels and are unlikely to fall substantially in the coming months.

Few economists expect a turnaround in the battered labor market anytime soon with companies laying off thousands of workers weekly.

Still, the tally of initial requests for unemployment benefits fell to 639,000 from the previous week’s figure of 670,000, the Labor Department said today. Analysts expected a smaller drop to 650,000.

New jobless claims unexpectedly drop to 639,000 | Freep.com | Detroit Free Press

I love how Obama's writers said create or SAVE jobs. That's pure genius. And government jobs will increase which, of course, hurts the economy even more. The guy is a master of deception.
 
So maybe there's something to this stimulus thing saving jobs....

In the week ending Feb. 28, the advance figure for seasonally adjusted initial claims was 639,000, a decrease of 31,000 from the previous week's revised figure of 670,000. The 4-week moving average was 641,750, an increase of 2,000 from the previous week's revised average of 639,750.

ETA Press Release: Unemployment Insurance Weekly Claims Report

WASHINGTON — The number of new jobless claims and the total number of people receiving unemployment benefits both dropped more than expected last week, though they remain at elevated levels and are unlikely to fall substantially in the coming months.

Few economists expect a turnaround in the battered labor market anytime soon with companies laying off thousands of workers weekly.

Still, the tally of initial requests for unemployment benefits fell to 639,000 from the previous week’s figure of 670,000, the Labor Department said today. Analysts expected a smaller drop to 650,000.

New jobless claims unexpectedly drop to 639,000 | Freep.com | Detroit Free Press

I love how Obama's writers said create or SAVE jobs. That's pure genius. And government jobs will increase which, of course, hurts the economy even more. The guy is a master of deception.

If he were truly good at it we wouldn't see it. I'm having a really hard time taking him seriously.
 
Hi Wimpy:

8.1% unemployment anybody?

you mean tomorrow's numbers? i say just below 8

The real unemployment rate is at least 10 percent higher than the Government is reporting (story), so we are looking at between 18 and 20 percent unemployment of U.S. workers right now. This AssociatedContent.com article (here) explains who among the unemployed is not being counted. Merrill Lynch estimates the Real Unemployment Rate at 13.9 percent (story), but I can tell you for a fact that the masonry company that I worked at for years had 350 employees and is now down to a mere handful of supervisors and foremen here in sunny Illegal Alien-infested Florida.

The Real U.S. Economy is in MUCH worse shape than the Government is prepared to explain, so Loyal Bushie LIES become Senor Obama LIES and the song remains very much the same . . .

GL,

Terral
 
You know the old saying, Jill.

A decrease of 31,000 from the previous week's revised figure of 670,000 does not a summer make.

oh...i know. but it was better than expected. and i figure since we're watching everything else, we should watch that, too. ;)

of course, all the new jobs are at target. I wonder how the wall street types feel saying "welcome to target".

Target to Open Twenty-Seven New Stores
Upscale discounter opens first two locations in Hawaii

MINNEAPOLIS, March 3, 2009 – Target (NYSE:TGT) today announced the opening of 27 new stores including its first two locations in Hawaii. The new stores, which include 21 general merchandise Targets and six full-grocery SuperTargets, will hold a grand opening on Sunday, March 8.

Target to Open Twenty-Seven New Stores / Target Corp
 
You know the old saying, Jill.

A decrease of 31,000 from the previous week's revised figure of 670,000 does not a summer make.

oh...i know. but it was better than expected. and i figure since we're watching everything else, we should watch that, too. ;)

of course, all the new jobs are at target. I wonder how the wall street types feel saying "welcome to target".

Target to Open Twenty-Seven New Stores
Upscale discounter opens first two locations in Hawaii

MINNEAPOLIS, March 3, 2009 – Target (NYSE:TGT) today announced the opening of 27 new stores including its first two locations in Hawaii. The new stores, which include 21 general merchandise Targets and six full-grocery SuperTargets, will hold a grand opening on Sunday, March 8.

Target to Open Twenty-Seven New Stores / Target Corp

Even assuming that the STimulus plan and the TARP bailout work, I think we can pretty much expect to see the unemployment numbers continue to scare the be-jesus (or the Be-moses, if that works for you) out of us for some time to come.

The working class will be the LAST class of people who will get pulled out of the DEPRESSION which we're going into.

But until that class is finally beginning to recover, the economic instability is going to plague the rest of the nation, too.

For some of us, of course, when Wall Street recovers, everything's right with the world, but for AMERICA itself, its how the majority of people are faring that really matter.
 
I have to admit, I have become completely pessimistic about the next five to ten years. To make matters worse, those who represent us believe that throwing money at this mess is the answer when it is becoming ever so apparent that the answer is the exact opposite. This economy is crashing and continuing to crash. Throwing more money at it is only going to devalue the dollar more.

This mess was created because we borrowed so much money to the point it could not be paid back. The only way things will turn around is for people to pay down their debt and actually save money. This will happen over time. In the process, many will find it impossible to pay their debts and the losses will mount. It is those who do remain employed who will turn things around, but not until they begin to save. As savings grow, and people actually find they have extra cash on hand, then they will begin to spend again, and that is when things will turn around.

This process is going to be very slow, but it is the only one that makes sense. We cannot have a strong economy based on consumer credit. We saw what happened when we went down that road. Fiscal policy for individuals and government need to be in sync. Cut spending whereever possible and save, save, save. This completely contradicts what most people believe will get things moving again. Most believe that if people will spend, then that will create more jobs, and this is very true. The problem right now is that no one has extra money to spend and we can't just print money so people will spend. We have to work through this one step at a time. People must reduce their personal debt to managable levels and save as much as they can. The government needs to cut spending across the board. This would make tax cuts more viable. Cutting taxes while increasing spending is only a recipe for disaster.

If we want to cut taxes so people can begin to save, then government spending must be cut drastically.
 
I have to admit, I have become completely pessimistic about the next five to ten years. To make matters worse, those who represent us believe that throwing money at this mess is the answer when it is becoming ever so apparent that the answer is the exact opposite. This economy is crashing and continuing to crash. Throwing more money at it is only going to devalue the dollar more.

This mess was created because we borrowed so much money to the point it could not be paid back. The only way things will turn around is for people to pay down their debt and actually save money. This will happen over time. In the process, many will find it impossible to pay their debts and the losses will mount. It is those who do remain employed who will turn things around, but not until they begin to save. As savings grow, and people actually find they have extra cash on hand, then they will begin to spend again, and that is when things will turn around.

This process is going to be very slow, but it is the only one that makes sense. We cannot have a strong economy based on consumer credit. We saw what happened when we went down that road. Fiscal policy for individuals and government need to be in sync. Cut spending whereever possible and save, save, save. This completely contradicts what most people believe will get things moving again. Most believe that if people will spend, then that will create more jobs, and this is very true. The problem right now is that no one has extra money to spend and we can't just print money so people will spend. We have to work through this one step at a time. People must reduce their personal debt to managable levels and save as much as they can. The government needs to cut spending across the board. This would make tax cuts more viable. Cutting taxes while increasing spending is only a recipe for disaster.

If we want to cut taxes so people can begin to save, then government spending must be cut drastically.

My husband's boss got a letter from his credit card company the other day. He pays his credit card bill off in full whenever applicable. Seems the lender doesn't like the way this guy does business so they cut his credit limit to $300. Yes, $300. This is a guy who has kids, a house, etc. and uses his credit card. He just uses it wisely. The CC company said they didn't get a bailout and people like my husband's boss are not good for business. He dropped his account with the company. If it's wasteful for an individual to live in debt how is it good for the country to live in debt?
 
One of the reasons there has been a huge surge in Unemployment numbers is because some states have extended the period of time people can continue receiving UC benefits. In other words, those people who would have fallen off the rolls last year are able to file extension, and thus are staying on.

There are only so many people, though, and of course once that increase is accounted for, the numbers are going to even off.

The same with foodstamps. While food is more expensive (though has dropped with the cost of oil and the reduction of demand on grain crops for biofuel) the income standards have been raised recently. Which means MORE PEOPLE ARE ELIGIBLE FOR FS. So of course those people are going to apply. It's not just indicative of hard times...it's because now more people are eligible, for longer.
 
One of the reasons there has been a huge surge in Unemployment numbers is because some states have extended the period of time people can continue receiving UC benefits. In other words, those people who would have fallen off the rolls last year are able to file extension, and thus are staying on.


Are you under the impression that the 600,000+ number being reported is the people collecting unemployment?

No, the numbers being reported are NEW files for unemployment, Allie. That means the people who lose their jobs THAT month.

Good guess though.

There are only so many people, though, and of course once that increase is accounted for, the numbers are going to even off.

Yes, nice try. Wrong, but kudos for creative thinking.

The same with foodstamps. While food is more expensive (though has dropped with the cost of oil and the reduction of demand on grain crops for biofuel) the income standards have been raised recently
.

Now here you are right and on to something.

By increasing the elibility, they've increased the number of people who can get food stamps


Which means MORE PEOPLE ARE ELIGIBLE FOR FS. So of course those people are going to apply. It's not just indicative of hard times...it's because now more people are eligible, for longer.

Yup. Cause you know how many people who don't really need foodstamps will just apply out of spite, just to make the economy look bad when it isn't.
 
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One of the reasons there has been a huge surge in Unemployment numbers is because some states have extended the period of time people can continue receiving UC benefits. In other words, those people who would have fallen off the rolls last year are able to file extension, and thus are staying on.


Are you under the impression that the 600,000+ number being reported is the people collecting unemployment?

No, the numbers being reported are NEW files for unemployment, Allie. That means the people who lose their jobs THAT month.

Good guess though.

There are only so many people, though, and of course once that increase is accounted for, the numbers are going to even off.

Yes, nice try. Wrong, but kudos for creative thinking.

The same with foodstamps. While food is more expensive (though has dropped with the cost of oil and the reduction of demand on grain crops for biofuel) the income standards have been raised recently
.

Now here you are right and on to something.

By increasing the elibility, they've increased the number of people who can get food stamps


Which means MORE PEOPLE ARE ELIGIBLE FOR FS. So of course those people are going to apply. It's not just indicative of hard times...it's because now more people are eligible, for longer.

Yup. Cause you know how many people who don't really need foodstamps will just apply out of spite, just to make the economy look bad when it isn't.

it's definitely on my to do list. love me that gummint cheese.:lol::cuckoo:
 

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