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AP: Jobless Claims Up 14K, Economy Gains Momentum

From a relentless Associated Press:

Applications for unemployment benefits rise 14K

By PAUL WISEMAN | May 1, 2014

WASHINGTON (AP) — The number of Americans applying for unemployment benefits rose last week to the highest level since February, a dose of mixed news for an economy that appears to be gaining momentum.

What could be a better sign of an improving economy than high jobless claims.

The Labor Department said Thursday that a seasonally adjusted 344,000 people applied for benefits, up 14,000 from the previous week and the most since late February. The less-volatile four-week average rose by 3,000 to 320,000, a figure that’s still consistent with a steadily improving job market.

The number of people applying for benefits has risen three straight weeks…

And here is the usual pre-monthly jobs report (aka rosy scenario), via Reuters:

Spring expected to usher in strong U.S. job growth

By Lucia Mutikani | April 29, 2014

WASHINGTON (Reuters) – U.S. employment likely rose at its fastest clip in five months in April and the jobless rate probably dropped in a show of strong economic momentum after a gloomy winter…

Even though the number of people making unemployment claims has increased for three weeks in a row.

The unemployment rate is forecast slipping one-tenth of a percentage point to 6.6 percent, a five-year low previously touched in January… The Labor Department will release its monthly jobs report, which is closely watched by financial markets around the globe, on Friday at 8:30 a.m…

Economists expect payrolls growth to trend around 200,000 per month for the remainder of this year, a level they say is consistent with economic growth in the 2.5 percent to 3.0 percent range.

‘IN GOOD SHAPE’ …

It’s an endless cycle. We get these same lies right before every jobs report. Then we get the actual (bad) numbers, which the media spins as best they can. And then they tell us how wonderful everything is going to be next month.

This article was posted by Steve Gilbert on Thursday, May 1st, 2014. Comments are currently closed.

5 Responses to “AP: Jobless Claims Up 14K, Economy Gains Momentum”

  1. chainsaw

    I’m no economist but logic tells me that when spring arrives, more people are out and about buying and doing things hence an increase in employment. It happens every year.

    Wait until you hear what Princess Nancy said…..ufb.

  2. captstubby

    US jobless claims rise but still on improvement track
    Washington (AFP) – New claims for US unemployment insurance benefits rose last week but remained on a downward trend as the job market slowly improves,(sic) government data released Thursday showed.
    Initial jobless claims, a sign of the pace of layoffs, totaled 344,000 in the week ending April 26, an increase of 14,000 from the prior week’s slightly revised 330,000 reading, the Labor Department said.
    Claims last week were at their highest level since late February.
    Most analysts expected claims to fall to 315,000. But they cautioned that weekly volatility was particularly difficult to assess because of the Easter holiday and school break periods.
    The four-week moving claims average, which helps to smooth out volatility, rose by 3,000 to 320,000.
    A year ago the four-week average was at 344,000.
    The claims data came ahead of Friday’s April jobs report. The Labor Department is expected to announce 210,000 jobs were added to the economy, after 192,000 in March, and the unemployment rate slipped to 6.6 percent from 6.7 percent.
    “This report screams Easter seasonal adjustments, so we are inclined to ignore it,” said Ian Shepherdson of Pantheon Macroeconomics.
    “We think the underlying trend is falling, but only slowly, and we’d be happy to see the four-week moving average trending in the low 320s by the middle of June.”

    recap;
    “rose last week but remained on a downward trend ”
    “Initial jobless claims, a sign of the pace of layoffs, totaled 344,000 in the week ending April 26″

    “A year ago the four-week average was at 344,000.”

  3. Funny .. that’s not what reputable news organizations say ..

  4. Rusty Shackleford

    My curiosity with this has to do with my ongoing addiction to 1960’s television. That is to say: “If we had all those shows in the 60’s & 70’s about megalomaniacs who acted oh-so-stereotypically and most of America watched some of them, if not most, then how is it that Reid, the boy who sits in the president’s chair, Mrs president’s chair, Pelosi, Rangel, Maxine, etc….don’t get it that they are just like the evildoers in those shows.

    Biden….a cross between Col Klink and the clumsy robot on “Get Smart”. Reid is…well….have to move to the 90’s for this…..Reid is like Scorpio on “Farscape” and just as evil.
    https://www.pinterest.com/pin/176344141629047222/

    Boehner is the biggest bungler in the history of our current government and I can only think he’s most similar to Capt Parmenter of “F-Troop” but without the “alls-well-that-ends-well” schtick and affable demeanor.

    We’ve seen all these people in satirical form over the years. And, I dare say they are just as two-dimensional, and just as easily predictable.

    Hitlery is Maude only just plain not funny.

    Obama is that guy who played the lead in “How To Succeed In Business Without Really Trying” and no one is catching on to his schtick.

    Even the good guys. Seems like Ryan is Ensign Pulver from “Mr Roberts” while McCain is Ensign Parker of “McHale’s Navy”…..

    Except all of them lack an endearing side. We never see their humanity unless being so incredibly fallible is it. Pelosi reminds me of the Starfleet Admiral in an episode of “The Next Generation” where she tries to take down Jean Luc Picard.

    http://www.imdb.com/title/tt0708793/quotes

    And so many others who are easily and readily identifiable just by their superficiality and false pretense behavior.

    Is it that they’re all just pathetic actors who know nothing of the real world? Do they even understand how a light-bulb works or are they, themselves so devoid of intelligence; So dim that they cannot, quite literally, see the forest for the trees?

    I think it must be so for they have no skills other than maintaining a facade of artificiality. They are playing their parts for the long-term goal of socialism without realizing the actual damage and legacy they are forging.

    They probably think they are really doing good when they have lost the meaning of what good really is and that it involves, many times, staying out of things and not getting involved.

    But then, if they were artists, they would have but one color with which to paint; Carpenters, but one tool, a hammer.

    Government has become, as it always does, a haven for the unskilled charlatans who cannot earn money of their own accord so they must take it from others.

    • captstubby

      well put Rusty.
      reminds me of this quote from Octopussy 1983.

      General Orlov;
      “tomorrow, I shall be a hero of the Soviet Union.”

      General Gogol ,who by now learned about Orlov’s scheme, approaches the fatally-injured man, looking at him disdainfully;
      [contemptuously] “A common thief. A disgrace to the uniform! “




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