Unemployment Benefits decrease to lowest level since 1st week of April

[웃 910]

(Reuters) - New U.S. claims for unemployment benefits declined for the second straight week, to the lowest level since the first week of April, the Labor Department said on Thursday.

Initial claims for state unemployment benefits fell 10,000 to a seasonally adjusted 390,000 in the week ended November 5, slightly below the 400,000 that analysts polled by Reuters had expected. The government revised its estimate for claims during the prior week to 400,000 from 397,000.

Weekly claims still remain well above pre-recession levels and have only dipped below 400,000 -- a threshold many economists believe signifies improving labor market conditions -- 10 times over the past year.

A Labor Department official said a freak fall snowstorm that kept many people housebound in the Northeast did not affect initial jobless claims.

The number of people still receiving benefits under regular state programs after an initial week of aid fell 92,000 in the week ended October 29 to 3.615 million. That was the steepest drop since February, and the lowest level since the week ended September 20, 2008.

The four-week moving average of claims, considered a better measure of labor market trends, fell to 400,000 from 405,250 the prior week, which was revised up from the previously reported 404,500.

http://www.reuters.com/article/2011/11/10/us-usa-economy-idUSTRE7A93UR20111110

[I AM NOT THAT GUY 5,715]

Of course. All the retailers are hiring for Black Friday.

[Usui Takumi 1,562]

Of course. All the retailers are hiring for Black Friday.

Well in theory seasonal adjustment accounts for that.

[I AM NOT THAT GUY 5,715]

Well in theory seasonal adjustment accounts for that.

They are making an extra effort this year in hiring more seasonal and part time workers, to avoid paying overtime, and cutting back on full time hires to save money on benefits.

[Bad_Daddy 2,209]

Who in their right mind is going to give up unemployment checks for a two month minimum wage job?

[I AM NOT THAT GUY 5,715]

Who in their right mind is going to give up unemployment checks for a two month minimum wage job?

Folks that usually depend on unemployment that have exhausted their 99 weeks of benefits. Folks that haven't worked in the last 18 months, so are not eligible for benefits.

And, of course, there are many folks looking for a second or third job over the holidays, to buy stuff for their kids for Christmas.

Edited November 12, 2011 by Crusty Old Perv

[Bad_Daddy 2,209]

Folks that usually depend on unemployment that have exhausted their 99 weeks of benefits. Folks that haven't worked in the last 18 months, so are not eligible for benefits.

And, of course, there are many folks looking for a second or third job over the holidays, to buy stuff for their kids for Christmas.

If that's the case, then these Christmas jobs have zero to do with the OP seeing how they don't affect the reduction in unemployment filings.

[I AM NOT THAT GUY 5,715]

If that's the case, then these Christmas jobs have zero to do with the OP seeing how they don't affect the reduction in unemployment filings.

Less people getting laid off due to lack of work (necessary qualification for benefits), or able to find another job rather than filing for benefits. In some states, if you try to open a claim, they find you a job instead if possible.

Edited November 12, 2011 by Crusty Old Perv