Jobless claims point to healing in labor market

Comments (22)
Harry079 wrote:

“Claims were volatile in January due to the timing of holidays and the dates on which weeks ended”

Yep we’ve got to time those darn Holidays better and be careful on which dates those troublesome weeks end.

Wonder which Economic Think Tank thought up this wacky excuse.

Feb 07, 2013 8:44am EST  --  Report as abuse
AZreb wrote:

Since those who are no longer receiving benefits since they ran out are not covered in the numbers, this is a big joke and a bad one.

Feb 07, 2013 8:46am EST  --  Report as abuse
Crash866 wrote:

“The number of Americans filing new claims for jobless benefits fell last week” or so many are no long receiving benefits and being counted things must be better.

Feb 07, 2013 9:10am EST  --  Report as abuse
abb68 wrote:

headline makes disappointing news sound like good news.

Feb 07, 2013 9:16am EST  --  Report as abuse
J.Gibson wrote:

you’re all republicans, aren’t you?

Feb 07, 2013 9:30am EST  --  Report as abuse
J.Gibson wrote:

you’re all republicans, aren’t you?

Feb 07, 2013 9:30am EST  --  Report as abuse
stambo2001 wrote:

So more people ran out of their benefits and dropped from the rosters, now they’ll get to collect food-stamps and go on welfare. How this can be seen as a positive? Well, I guess if the idea is to create government dependents this would be the way to go.

Feb 07, 2013 9:35am EST  --  Report as abuse
AZrubicon wrote:

I am not a Republican or Democrat. They are both corrupt. In my line of business I run into people on a weekly bases that have had their long term unemployment cancelled. The numbers should reflect that fact. I work in health care and just wait until the full effects of Obamacare start hitting consumer spending.

Feb 07, 2013 10:08am EST  --  Report as abuse
bobber1956 wrote:

If this is true “dropped by 5,000 to a seasonally adjusted 366,000″ it would make last weeks report even more of lie. The did not report 371,00 claims last week.

Feb 07, 2013 10:25am EST  --  Report as abuse
USAPragmatist wrote:

@stambo this is NEW jobless claims, so your comment has no basis in this article. While yes long term un-employment is a big problem, it has nothing to do with the scope of this report. So if you think long-term un-employment is such a problem, why not support the President’s job bill where a large component was job training for new industries for these long-term unemployed? O yea i forgot you are not interested in solving the problem, you are simply interested in portraying our President as a failure. I guess the question is why?

To the rest of you, you all are like a broken record, why can you not just accept the FACT that the job market and economy are, albeit slowly, healing? once again i forgot, you are not interested in making it better, simply interested in portraying Obama a failure, why is that?

Feb 07, 2013 10:27am EST  --  Report as abuse
Jameson4Lunch wrote:

So, what does the falling labor participation rate point to? If we can get that down a few more points, we’ll have some of the lowest unemployment in the US ever!

Feb 07, 2013 11:20am EST  --  Report as abuse
brotherkenny4 wrote:

If at some point in your life you determined to work hard and live within your means, these times that appear to be hard for others don’t concern you in the least. Because you have saved, and not live hand to mouth and perhaps educated yourself, and a real education. You know, not the vocational skills your masters want you to have. You also can live on less and accept a lower paying and also lower stress job and be perfectly happy, because you want for nothing. However if you have always only really wanted possessions and morgaged your future for the trivial consumer bits that so many seem to think are going finally make them happy as instructed on TV, then your screwed, but you would have been anyway, because you don’t think much. Your probably a good follower, maybe a tattle tale from school, and always a good little person as told by the religious and political leaders. Yes, good little follower.

Feb 07, 2013 11:41am EST  --  Report as abuse
DougAnderson wrote:

I’m not surprised the market is improving. Apparently, whining on Reuters is a full time job for some.

Feb 07, 2013 12:15pm EST  --  Report as abuse
Crash866 wrote:

Hey DougAnderson
http://www.reuters.com/article/2013/02/07/us-markets-stocks-idUSBRE9130FX20130207

You would think the GREAT news in this article would offset this…not…tick tock…

Feb 07, 2013 12:37pm EST  --  Report as abuse
Harry079 wrote:

“Claims were volatile in January due to the timing of holidays and the dates on which weeks ended”

So any of you Economic Sunshine folks want to explain to me how the above statement makes any sense at all?

Feb 07, 2013 1:17pm EST  --  Report as abuse
Jameson4Lunch wrote:

@USAPragmatist – This is the worst recovery in American history. Even the Great Depression had a faster recovery. None of the fundamental problems have been addressed. The markets look good because of created money, to the tune of 1T a year. What has that bought us? A GDP growth that continues to shrink. But hey, the markets look good.

I don’t put all the blame on Obama. Bernanke shares a lot of it. Bush too. But the bottom line is, the economy is on just as shaky ground as it was when the financial crisis started.

Feb 07, 2013 1:25pm EST  --  Report as abuse
Crash866 wrote:

USAPragmatist
If you can’t…you will soon…if not…have a great day…tick tock

Jameson4Lunch
No just not lemmings…

Feb 07, 2013 1:29pm EST  --  Report as abuse
Crash866 wrote:

Jameson4Lunch
Thanks!! But seriously isn’t it all fixed…in more ways than one…tick tock…

Feb 07, 2013 2:32pm EST  --  Report as abuse
USAPragmatist wrote:

@jameson4Lunch….I would disagree on your assesment that this is the worst recovery in American history, it took 10+ years and WW II to finally get us out of great depression, and it only been ~4 years since financial crash.

I am with you on the FED ‘propping’ up economy through monetary stimulus, but they had no choice without what was really needed, no Fiscal stimulus from congress, in fact congress wanted the exact opposite, austerity. That is one of the bigger challenges the economy faces, how to wind down these monetary policies without causing shocks.

Lastly, I disagree with your statement ‘But the bottom line is, the economy is on just as shaky ground as it was when the financial crisis started.’, we are actually gaining jobs and the economy is growing.

Feb 07, 2013 2:34pm EST  --  Report as abuse
Jameson4Lunch wrote:

@USAPragmatist – After 4 years of contraction during the Great Depression, the growth of the economy from ’34-’36 was 11%, 9%, and 13%, respectively. We’re not going to see numbers anywhere close to that over the next 3 years. We should consider ourselves lucky at 1%.

As to winding down the monetary policies, it’s not really an option. There’s a currency war currently taking place, and if we don’t keep these policies in place, we’ll see major contraction in the economy. Of course, these loose policies will likely be the end of the Dollar as the world’s reserve currency as China positions itself with its gold asset purchases to displace it with the renminbi. But that’s the disaster down the road, when all our errant dollars come home, and so for now, policy is focused on the disaster right in front of us, which is maintaining competitive prices.

As to the economy being on shaky ground, there’s another housing bubble brewing. Most of the policies that formed it in the first place are still in place. One of the godsends has been the banks reluctance to lend to people that can’t afford it, but speculators are still driving the prices up, which prospective homeowners simply can’t afford. Makes it look good on paper, but the reality is different. Deeper than that, though, current monetary policy, in conjunction with the global currency race to the bottom, is creating a dollar bubble. If that one pops, well… It all strikes me as pretty shaky. Hopefully I’m wrong. No one knows with certainty what the future holds. Everything I can see points to this Keynesian experiment going horribly wrong, though.

Feb 07, 2013 3:39pm EST  --  Report as abuse
MikeyLikesIt wrote:

@Jameson4Lunch

Don’t forget the fact that the interest payments on our debt are being artificially suppressed due to near zero prime rates. These are the same interest rates that are killing the elderly and savers as they are having to pull from the principle in their retirement accounts to get by instead of taking interest payments.

What’s going to happen to our debt payments when we can’t keep the rates down anymore? They’re going to explode and when they do the trillion dollar deficits we are seeing now will be thought of as the “good old days”.

Feb 07, 2013 4:50pm EST  --  Report as abuse
Harry079 wrote:

Mikey I agree with you 100% and have been saying the same things for a long time.

The markets will force the bond rates up as soon as QE slows or when Government Bonds no longer sell at the current rates.

Feb 07, 2013 5:35pm EST  --  Report as abuse
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