OMG: Weekly Unemployment Claims at a FOUR YEAR LOW! WOWW!!!!

[웃 910]

Jobless Claims in U.S. Hold at Four-Year Low

The number of Americans filing first-time claims for unemployment insurance payments last week held at a four-year low, more evidence the labor market is improving.

Applications for jobless benefits were unchanged in the week ended Feb. 18 at 351,000, the fewest since March 2008, Labor Department figures showed today. The median projection in a Bloomberg News survey called for 355,000 claims, marking the fourth straight week that the figures have been better than forecast. The number of people on unemployment benefit rolls dropped to the lowest level since August 2008.

Fewer headcount reductions show companies may be growing more optimistic about the outlook for the world’s biggest economy. The recent drop in jobless claims sets the stage for bigger gains in hiring, which would bolster consumer confidence and drive spending.

“The strength we’ve had in the last few months is continuing,” said Guy Berger, an economist at RBS Securities Inc. in Stamford, Connecticut, who forecast 350,000 claims. “Barring any surprises, February looks like another good month for payroll growth.”

Stock-index futures held gains after the figures, with the Standard & Poor’s 500 Index climbing 0.1 percent to 1,357.3 at 8:42 a.m. in New York.

Estimates for first-time claims ranged from 330,000 to 370,000 in the Bloomberg News survey of 47 economists. The Labor Department initially reported the prior week’s applications at 348,000.

Survey Week

Last week included the 12th of the month, which coincides with the period the Labor Department uses in its survey of employers to calculate monthly payroll growth. That report will be released March 9.

A Labor Department official today said there was “nothing unusual” that affected today’s figures.

The four-week moving average, a less-volatile measure, declined to 359,000, also the lowest since March 2008, from 366,000.

The number of people continuing to collect jobless benefits dropped by 52,000 in the week ended Feb. 11 to 3.39 million. The continuing claims figure does not include the number of workers receiving extended benefits under federal programs.

Those who’ve used up their traditional benefits and are now collecting emergency and extended payments decreased by about 69,000 to 3.41 million in the week ended Feb. 4.

48 States Decline

The unemployment rate among people eligible for benefits, which tends to track the jobless rate, held at 2.7 percent in the week ended Feb. 11, today’s report showed. Forty-eight states and territories reported a decrease in claims, while five had an increase.

The Labor Department said it received estimates from California and Virginia for claims in the latest week. It had to estimate claims for Hawaii.

Initial jobless claims reflect weekly firings and tend to fall as job growth -- measured by the monthly non-farm payrolls report -- accelerates.

Congress voted last week to maintain expanded unemployment benefits through Dec. 31. The $30 billion extension gradually reduces the number of weeks recipients can receive benefits, down from the current 99 weeks, according to separate summaries provided by Democrats and Republicans on the House Ways and Means Committee. By the end of the year, most states would offer maximum benefits for 63 weeks, while people in high-unemployment states would be eligible for 73 weeks of benefits.

Obama on Labor

President Barack Obama signed the bill into law yesterday. The measure also extended a two percentage-point tax cut and avoided a cut in doctors’ Medicare reimbursements.

“Wherever we have an opportunity, we’re going to take steps on our own to keep this economy moving,” Obama said earlier this week.

An economy that’s expanding faster could stimulate more hiring. Macy’s Inc. (M), the second-biggest U.S. department-store chain, may hire about 4,000 new employees this year, matching the number of additions it made last year.

“Given that our business is growing, we are of course hiring,” Jim Sluzewski, a spokesman for the Cincinnati-based retailer, said in a Feb. 17 e-mail. “We added about 4,000 total positions in 2011 and my presumption is that it will be roughly similar in 2012 but planning is ongoing.”

http://www.bloomberg.com/news/2012-02-23/initial-jobless-claims-in-u-s-held-last-week-at-four-year-low-of-351-000.html

[Gary and Alla 3,694]

This could go down even more if they cut back to 52 weeks of UI. I suspect now that Obama is taking cash from corporations in unlimited amounts and he has proposed cutting their taxes, even more people will have jobs soon. Imagine that!

[웃 910]

This could go down even more if they cut back to 52 weeks of UI. I suspect now that Obama is taking cash from corporations in unlimited amounts and he has proposed cutting their taxes, even more people will have jobs soon. Imagine that!

So cut taxes and companies hire?

Why did Clinton create over 20 million jobs and Bush 0?

[Gary and Alla 3,694]

So cut taxes and companies hire?

Why did Clinton create over 20 million jobs and Bush 0?

So you are saying Obama is wrong? Are you saying Obama is like Bush? Cut taxes, kill Muslims?

[웃 910]

So you are saying Obama is wrong? Are you saying Obama is like Bush? Cut taxes, kill Muslims?

I don't think cutting taxes a few percent does anything but add to the deficit.

[Gary and Alla 3,694]

I don't think cutting taxes a few percent does anything but add to the deficit.

So you are not going to vote for Obama? He cut funding for Social Security also, do you think that will help?

Hey, what happened last night? Did Romney get his @ss kicked again? I don't see any "YAY Romney" posts from you so I am guessing Santorum kicked his @ss. You gonna vote for Santorum for Pres?

I didn't catch the debate, Alla and I were out for dinner and dancing to celebrate Sergey getting a HUGE offer for a Doctorate from Rice University, big stipned, paid medical insurance and an assistant teching position there! <---more dancing, But I am guessing you were glued to the TV. So what's up with Romney?

[MyLittlePony 340]

Obama has to stay those other rookies cant do better.

[웃 910]

So you are not going to vote for Obama? He cut funding for Social Security also, do you think that will help?

Hey, what happened last night? Did Romney get his @ss kicked again? I don't see any "YAY Romney" posts from you so I am guessing Santorum kicked his @ss. You gonna vote for Santorum for Pres?

I didn't catch the debate, Alla and I were out for dinner and dancing to celebrate Sergey getting a HUGE offer for a Doctorate from Rice University, big stipned, paid medical insurance and an assistant teching position there! <---more dancing, But I am guessing you were glued to the TV. So what's up with Romney?

I have no idea what a "big stipned" is or a "teching" position.

Edited February 23, 2012 by ☠

[luckytxn 2,265]

So you are not going to vote for Obama? He cut funding for Social Security also, do you think that will help?

Hey, what happened last night? Did Romney get his @ss kicked again? I don't see any "YAY Romney" posts from you so I am guessing Santorum kicked his @ss. You gonna vote for Santorum for Pres?

I didn't catch the debate, Alla and I were out for dinner and dancing to celebrate Sergey getting a HUGE offer for a Doctorate from Rice University, big stipned, paid medical insurance and an assistant teching position there! <---more dancing, But I am guessing you were glued to the TV. So what's up with Romney?

Rice University?

[Gary and Alla 3,694]

I have no idea what a "big stipned" is or a "teching" position.

Probably why you aren't a rocket scientist.

[Gary and Alla 3,694]

Rice University?

Yes, ever heard of it? It's in Houston Texas. Hell, I am from Runnels county and I heard of it.

[luckytxn 2,265]

Yes, ever heard of it? It's in Houston Texas. Hell, I am from Runnels county and I heard of it.

Hell yeah I heard of it. It was the ONE school my father wanted me to try and get into. Yale and Harvard would be the second choice for most. Doctorate out of there and one is set comfortably if they want for life. My congrats to the very happy parents. The boy done good.

[웃 910]

Probably why you aren't a rocket scientist.

It's spelled stipend.

[Gary and Alla 3,694]

Hell yeah I heard of it. It was the ONE school my father wanted me to try and get into. Yale and Harvard would be the second choice for most. Doctorate out of there and one is set comfortably if they want for life. My congrats to the very happy parents. The boy done good.

When we went through all his apps, including MIT, Dartmouth, and Rutgers, I was hoping, so hoping, he would get an offer from Rice (I am a Texican I could be biased) He first got a generousoffer from Dartmouth which meant he would be home on weekdend doing laundry, but he held out for Rice. It came through yesterday! He had an interview with them while he was here for his winter break and we were SO holding our breath, afraid to even talk about it. They did another skyp interview with him on Monday and they sent the offer yesterday! They are even giving him an allowance for "relocation". He is a very hard working young man and deserves every good thing that comes to him. He is only 20 years old, he will be 21 when he starts the PhD program and finished a Masters's in physics in 5 years. He was barely 17 when he entered college

My guess is that he will not be filing for unemployment or welfare in the future and politicians will have had nothing to do with it.

So what happened in the debate?

[luckytxn 2,265]

When we went through all his apps, including MIT, Dartmouth, and Rutgers, I was hoping, so hoping, he would get an offer from Rice (I am a Texican I could be biased) He first got a generousoffer from Dartmouth which meant he would be home on weekdend doing laundry, but he held out for Rice. It came through yesterday! He had an interview with them while he was here for his winter break and we were SO holding our breath, afraid to even talk about it. They did another skyp interview with him on Monday and they sent the offer yesterday! They are even giving him an allowance for "relocation". He is a very hard working young man and deserves every good thing that comes to him. He is only 20 years old, he will be 21 when he starts the PhD program and finished a Masters's in physics in 5 years. He was barely 17 when he entered college

My guess is that he will not be filing for unemployment or welfare in the future and politicians will have had nothing to do with it.

So what happened in the debate?

Again congrats. He got a sweet deal. That is one of the hardest schools to get into. He may miss home and such but I can assure you that the babes in the area around the school there will help salve that pain. Have a long talk with him because those babes would love to hook up with a Rice graduate with a doctorate. Tell him to be very choosy.

I didn't see the debate but from what I read Romney beotch slapped Santorum. Ron Paul is said to have contributed to Santorums beat down. Gingrich is said to have looked like a kid trying to play with big boys.

Edited February 23, 2012 by luckytxn