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AP: Unemployment Claims ‘Drop Sharply’

From a giddy Associated Press:

Unemployment claims drop sharply to 407K

By Christopher S. Rugaber, AP Economics 
November 24, 2010 

WASHINGTON – The number of people applying for unemployment benefits fell sharply last week to the lowest level since July 2008, a hopeful sign that improvement in the job market is accelerating.

The Labor Department said Wednesday that weekly unemployment claims dropped by 34,000 to a seasonally adjusted 407,000 in the week ending Nov. 20. Wall Street analysts expected a much smaller drop.

A Labor Department analyst said weekly claims are volatile during the week between the Veteran’s Day and Thanksgiving holidays. A key question is whether claims will remain this low in future weeks, or bounce back.

Still, applications for jobless aid are steadily moving lower. Claims have fallen in four of the past six weeks…

The number of people continuing to claim unemployment aid fell by 142,000 to 4.18 million, the lowest in two years.

That doesn’t include millions of people receiving extended benefits under an emergency program set up by Congress during the recession

Reportedly, somewhere around 8.5 million people are still receiving unemployment benefits under all programs. Why aren’t we told whether that number is going up or down?

This article was posted by Steve on Wednesday, November 24th, 2010. Comments are currently closed.

4 Responses to “AP: Unemployment Claims ‘Drop Sharply’”

  1. proreason says:

    Of course jobs are going to increase, probably by a small amount, which, of course, will be ballyhoo’ed as the greatest accomplishment since Alexander the Great conquered the known universe.

    1. Businesses know that the Republican House is going to block at least some of the more egregious spending mania of the marxist regime.
    2. Olenin, of course, will allow some of this, and take credit for it, as part of his re-election strategy
    3. And in the 24 months since his masters destroyed the economy, 4 million people have entered the workforce (and hence need food, fuel and money for rap songs and pornography)…..so at some point jobs have to increase.

  2. Petronius says:

    In my November economic snapshot, I noted that unemployment was nearly 14.9M (official), up from 14.6M in October.

    Since I posted that snapshot on 17 Nov, unemployment has now surged over 14.9M (official) and 26M (actual).

    My post also warned that manipulation of unemployment statistics is a warning sign on the road to economic collapse. This AP article is a good example.

    http://sweetness-light.com/archive/unemployment-has-cost-319b-in-3-years#comment-192867

  3. Liberals Demise says:

    As per usual…..the #’s will be adjusted up next week wherein the LSM will ignore the ‘facts’ and never utter anything about it.
    After all, it’s only numbers. (Forgetting these numbers have faces)

  4. bill says:

    It’s Thanksgiving, for the dunderheads at the former news outlet AP. At least we now know they can’t think.


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