Unemployment Claims Fall To 52 Year Lows, Manufacturing Surges, As Biden Economy Takes Off

[skews13]

In a landmark for the labor market, new filings for jobless benefits last week dropped below their level before the pandemic struck, plunging to a low not hit since 1969, the government said.

Meanwhile, spending and incomes both rose more than expected last month -- though prices also increased five percent compared to October 2020, their biggest jump since November 1990.

U.S. economy regaining speed as unemployment claims fall; manufacturing surges

The number of Americans filing new claims for unemployment benefits fell close to pre-pandemic levels last week as the labor market recovery continues, though a shortage of workers remains an obstacle to faster job growth.

www.reuters.com

 

[Papageorgio]

If Biden puts $8.3 a year in the economy it damn well should be growing and be robust. That can be said no matter who is President

 

[Maxdeath]

You do realize there is a difference between unemployment numbers and jobless numbers, right?
the right could always use the same meowing that the left used it is still Trumps economy.
Actually Biden is a a negative in job creation so far.
But we start putting all that money on the government credit card something better happen.

 

[Dekster]

In a landmark for the labor market, new filings for jobless benefits last week dropped below their level before the pandemic struck, plunging to a low not hit since 1969, the government said.

Meanwhile, spending and incomes both rose more than expected last month -- though prices also increased five percent compared to October 2020, their biggest jump since November 1990.

U.S. economy regaining speed as unemployment claims fall; manufacturing surges

The number of Americans filing new claims for unemployment benefits fell close to pre-pandemic levels last week as the labor market recovery continues, though a shortage of workers remains an obstacle to faster job growth.

www.reuters.com

Well if you ignore that the current labor force participation rate hasn't been this low since the 70's.....

Labor Force Participation Rate

View data of the percentage of the total U.S. population that is neither employed nor actively seeking work.

fred.stlouisfed.org

 

[excalibur]

In a landmark for the labor market, new filings for jobless benefits last week dropped below their level before the pandemic struck, plunging to a low not hit since 1969, the government said.

Meanwhile, spending and incomes both rose more than expected last month -- though prices also increased five percent compared to October 2020, their biggest jump since November 1990.
4.1

U.S. economy regaining speed as unemployment claims fall; manufacturing surges

The number of Americans filing new claims for unemployment benefits fell close to pre-pandemic levels last week as the labor market recovery continues, though a shortage of workers remains an obstacle to faster job growth.

www.reuters.com

Millions of people are no longer eligible for extended unemployment benefits. There's the correct answer regarding the unemployment claims.

The economy is not surging. In fact, Trump had over 33.4% growth in the 3rd quarter of 2020, 4.1% in the 4th quarter of 2020.

And Trump left a 6.4% 1st quarter of 2021 growth for Biden.

U.S. third-quarter GDP growth revised slightly higher

The U.S. economy grew at a record pace in the third quarter, fueled by more than $3 trillion in pandemic relief.

www.cnbc.com

Anticipating a 2021 boom, fourth-quarter GDP is revised up slightly to 4.1%

The economy grew at a 4.1% pace in the final three months of 2020, slightly faster than first estimated.

www.cnbc.com

Consumer-fueled economy pushes GDP to 6.4% first-quarter gain

The gross domestic product data marked the second-fastest pace for growth since the second quarter of 2003.

www.cnbc.com

President Trump left Biden a growing economy that has since slowed down owing to the inept Biden policies.

 

[excalibur]

You do realize there is a difference between unemployment numbers and jobless numbers, right?
the right could always use the same meowing that the left used it is still Trumps economy.
Actually Biden is a a negative in job creation so far.
But we start putting all that money on the government credit card something better happen.

Yep, we need to look at the job participation numbers.

Plus, as I said in another post, millions of unemployed are no longer eligible for extended/emergency unemployment benefits.

 

[surada]

Millions of people are no longer eligible for extended unemployment benefits. There's the correct answer regarding the unemployment claims.

The economy is not surging at 2% growth. In fact, Trump had over 31% growth in the 3rd quarter of 2020, 4.1% in the 4th quarter of 2020.

And Trump left a 6.4% 1st quarter of 2021 growth for Biden.

Anticipating a 2021 boom, fourth-quarter GDP is revised up slightly to 4.1%

The economy grew at a 4.1% pace in the final three months of 2020, slightly faster than first estimated.

www.cnbc.com

Consumer-fueled economy pushes GDP to 6.4% first-quarter gain

The gross domestic product data marked the second-fastest pace for growth since the second quarter of 2003.

www.cnbc.com

President Trump left Biden a growing economy that has since slowed down owing to the inept Biden policies.

Trump's economy wasn't so robust in 2020.

 

[excalibur]

Trump's economy wasn't so robust in 2020.

It grew 33.4% in the 4th quarter 0f 2020, and 4.1% in the 4th quarter of 2020.

And it grew 6.1% in the first quarter of 2021 which is before Biden policies could kick in.

 

[meaner gene]

And it grew 6.1% in the first quarter of 2021 which is before Biden policies could kick in.

The funny thing about that statement, is when you apply it to gasoline prices, you get 20% or more increase in gas prices before Biden policies could kick in too.

 

[meaner gene]

It grew 33.4% in the 4th quarter 0f 2020, and 4.1% in the 4th quarter of 2020.

So the 4th quarter of 2020, the Trump GDP grew at both 4.1% and 33.4% at the same time?
I think you mean the 3rd quarter GDP grew at 33.4%
Right after the 2nd quarter GDP shrank by 30%.

And because of the quirk of measursing percent change, that means that going down 30% followed by going up 33.4% is actually a change of -6%

 

[edthecynic]

The economy is not surging. In fact, Trump had over 33.4% growth in the 3rd quarter of 2020, 4.1% in the 4th quarter of 2020.

And Trump left a 6.4% 1st quarter of 2021 growth for Biden.

Talk about your cherry picking data!
Real GDP decreased 3.5 percent in 2020
And Tramp was not president Q1 of 2021.

 

[edthecynic]

Well if you ignore that the current labor force participation rate hasn't been this low since

Tramp's 60.2% April 2020 rate.

 

[frigidweirdo]

In a landmark for the labor market, new filings for jobless benefits last week dropped below their level before the pandemic struck, plunging to a low not hit since 1969, the government said.

Meanwhile, spending and incomes both rose more than expected last month -- though prices also increased five percent compared to October 2020, their biggest jump since November 1990.

U.S. economy regaining speed as unemployment claims fall; manufacturing surges

The number of Americans filing new claims for unemployment benefits fell close to pre-pandemic levels last week as the labor market recovery continues, though a shortage of workers remains an obstacle to faster job growth.

www.reuters.com

And then you find out that presidents don't have that much impact on the economy.

And I said the same thing when Trumpers were trumpeting.

 

[MinTrut]

Millions of people are no longer eligible for extended unemployment benefits. There's the correct answer regarding the unemployment claims.

The economy is not surging. In fact, Trump had over 33.4% growth in the 3rd quarter of 2020, 4.1% in the 4th quarter of 2020.

And Trump left a 6.4% 1st quarter of 2021 growth for Biden.

U.S. third-quarter GDP growth revised slightly higher

The U.S. economy grew at a record pace in the third quarter, fueled by more than $3 trillion in pandemic relief.

www.cnbc.com

Anticipating a 2021 boom, fourth-quarter GDP is revised up slightly to 4.1%

The economy grew at a 4.1% pace in the final three months of 2020, slightly faster than first estimated.

www.cnbc.com

Consumer-fueled economy pushes GDP to 6.4% first-quarter gain

The gross domestic product data marked the second-fastest pace for growth since the second quarter of 2003.

www.cnbc.com

President Trump left Biden a growing economy that has since slowed down owing to the inept Biden policies.

^ Thread win.

 

[citygator]

More good news for Biden which he won’t capitalize on effectively. The lowest jobless claims filed since 1969 occurred last week. The guy is presiding over the history’s greatest economy and continues to stress the few shortfalls.

Weekly jobless claims fall to 184,000, the lowest level in more than 52 years

Initial filings for unemployment insurance totaled 184,000 for the week ended Dec. 4, the lowest going back to Sept. 6, 1969.

www.cnbc.com

Weekly jobless claims tumbled last week, reaching a fresh 52-year low as the U.S. jobs market climbs out of its pandemic-era hole, the Labor Department reported Thursday.

Initial filings for unemployment insurance totaled 184,000 for the week ended Dec. 4, the lowest going back to Sept. 6, 1969, which saw 182,000.


Initial claims for unemployment insurance were expected to total 211,000 for the week ended Dec. 4, according to a Dow Jones economist survey.

The total coincided with a large seasonal modification, as the unadjusted number was 280,665. But the move lower in claims, which fell from the 227,000 reported the week before, represents more progress for a labor market still struggling with a worker shortage and other pandemic-related fallout.


View attachment 573960

 

[Papageorgio]

More good news for Biden which he won’t capitalize on effectively. The lowest jobless claims filed since 1969 occurred last week. The guy is presiding over the history’s greatest economy and continues to stress the few shortfalls.

Weekly jobless claims fall to 184,000, the lowest level in more than 52 years

Initial filings for unemployment insurance totaled 184,000 for the week ended Dec. 4, the lowest going back to Sept. 6, 1969.

www.cnbc.com

Weekly jobless claims tumbled last week, reaching a fresh 52-year low as the U.S. jobs market climbs out of its pandemic-era hole, the Labor Department reported Thursday.

Initial filings for unemployment insurance totaled 184,000 for the week ended Dec. 4, the lowest going back to Sept. 6, 1969, which saw 182,000.


Initial claims for unemployment insurance were expected to total 211,000 for the week ended Dec. 4, according to a Dow Jones economist survey.

The total coincided with a large seasonal modification, as the unadjusted number was 280,665. But the move lower in claims, which fell from the 227,000 reported the week before, represents more progress for a labor market still struggling with a worker shortage and other pandemic-related fallout.


View attachment 573960

That simply means the participation pool is shrinking. I don’t blame any President for this issue, with baby boomers leaving the work force there is bound to be a shortage, I’m at the tail end of the boomers. Hopefully we get more automated and we will need few laborers in the future.

 

[edthecynic]

That simply means the participation pool is shrinking. I don’t blame any President for this issue, with baby boomers leaving the work force there is bound to be a shortage

Except the LPR went up, not down like you wish!
And the not in labor force went way down, much to your dismay!
So you are dead wrong on both counts!!!

 

[edthecynic]

The economy is not surging. In fact, Trump had over 33.4% growth in the 3rd quarter of 2020, 4.1% in the 4th quarter of 2020.

Real GDP decreased 3.5 percent in 2020 for all 4 quarters!!!

 

[Papageorgio]

Except the LPR went up, not down like you wish!
And the not in labor force went way down, much to your dismay!
So you are dead wrong on both counts!!!

Let's see the link.

 

[Slade3200]

If Biden puts $8.3 a year in the economy it damn well should be growing and be robust. That can be said no matter who is President

Did Biden really put 8.3T into the economy in one year?! How in the world did he do that? Can you show what you’re talking about