Jobless Claims Drop To Lowest Level Since April 2008 AS OBAMA CREATES 3 MILLION JOBS in 21 months

[웃 910]

Jobless Claims Drop To Lowest Level Since April 2008

WASHINGTON - New claims for unemployment benefits dropped last week to its lowest in more than 3-1/2 years, suggesting the labor market recovery was gaining speed.

Initial claims for state unemployment benefits dropped 4,000 to a seasonally adjusted 364,000, the Labor Department said. That was the lowest level since April 2008.

The economy has shown signs it is gaining steam as the year ends, although the recovery still could be derailed by any big flare up in Europe's debt crisis. The economy also faces risks from the fight in Congress over extending special unemployment benefits and a payroll tax cut.

The prior week's claims data was revised up to 368,000 from the previously reported 366,000.

Economists polled by Reuters had forecast claims rising to 375,000 last week.

The level of unemployment claims has fallen in recent weeks, and analysts say fewer layoffs means employers are probably more likely to hire.

Economists at Goldman Sachs said earlier in the week that weekly claims below 435,000 pointed to net monthly gains in jobs. Their research was based on figures available through October.

In November, the jobless rate dropped to a 2-1/2 year low of 8.6 percent. The Federal Reserve last week acknowledged an improvement in the jobs market, but said unemployment remained high and left the door open for further measures to help the economy.

A Labor Department official said claims were not estimated for any states, and that there was nothing unusual in the data.

The four-week moving average of claims, considered a better measure of labor market trends than the headline number, fell 8,000 to 380,250 -- the lowest since June 2008.

The number of people still receiving benefits under regular state programs after an initial week of aid fell 79,000 to 3.546 million in the week ended December 10.

Economists had forecast so-called continuing claims holding steady at 3.6 million.

As of Dec 3, a total of 7.150 million people were claiming unemployment benefits under all programs, down 299,738 from the prior week.

http://www.huffingtonpost.com/2011/12/22/jobless-claims-drop-lowest-level-april-2008_n_1164940.html

Keyword: Keywords

[Obama 2012 1,714]

Jobless claims drop from people no longer qualifying for unemployment and temporary holiday jobs.

Also "creating" jobs doesn't (well shouldn't) include temporary construction jobs and jobs that are being "recovered" from the massive loss of jobs a few years ago..

You're not "creating" ####### until you're back to where you were before the "crisis."

[I AM NOT THAT GUY 5,715]

Those numbers still suck, but show some improvement. Typical sucker rally. I am still waiting for the DJIA to head above 12,800 and stay there.

[웃 910]

Jobless claims drop from people no longer qualifying for unemployment and temporary holiday jobs.

Also "creating" jobs doesn't (well shouldn't) include temporary construction jobs and jobs that are being "recovered" from the massive loss of jobs a few years ago..

You're not "creating" ####### until you're back to where you were before the "crisis."

What do you think when you see something like this:

Those numbers still suck, but show some improvement. Typical sucker rally. I am still waiting for the DJIA to head above 12,800 and stay there.

What do you think when you see something like this:

Edited December 22, 2011 by Lord Infamous

[I AM NOT THAT GUY 5,715]

You can blame Krugman and Greenspan for that collapse. They fixed the Clinton tech bubble collapse by creating the housing bubble. GWB played right along, with Barney Frank, Chris Dodd, and Charley Rangle. Obama keeps trying to create a green bubble, but there is no air left in the system.

Edited December 22, 2011 by Crusty Old Perv

[Gary and Alla 3,694]

I hope this is the case. Revisit this in February. Personally I would like to see the country advance and the economy get better and everyone make money (you realize this means people will make money and there will be less poor people, right?) Even if it means Obama betting reelected.

But you cannot tell in December. They probably should not even do these reports for November-January