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Highest Jobless # In 5 Weeks Shows "Stability"

From a surprisingly tight-lipped Associated Press:

Jobless claims tick up slightly, show signs of stability

January 10, 2013

WASHINGTON — Weekly applications for U.S. unemployment benefits ticked up slightly last week, the latest sign of stability in the job market.

The Labor Department says applications rose 4,000 to a seasonally adjusted 371,000, the most in five weeks…

Also, for the record, the real life un-adjusted number of new unemployment claims was actually up by 61,944. Which is quite a difference from the ‘slight’ 4,000.

Weekly applications are a proxy for layoffs. They have fluctuated for most of the past 12 months between 360,000 and 390,000. At the same time, employers added an average of 153,000 jobs a month in 2012, the same as in 2011.

And we all know how wonderful 2011 was.

From a more loquacious Reuters:

Jobless claims rise, but jobs market recovery intact

by Lucia Mutikani | January 10, 2013

WASHINGTON(Reuters) – The number of Americans filing new claims for unemployment benefits rose last week, the Labor Department said on Thursday, but details of the report suggested the jobs market continued to grow at a moderate pace.

Initial claims for state unemployment benefits increased 4,000 to a seasonally adjusted 371,000, the Labor Department said. The prior week’s figure was revised to show 5,000 fewer applications than previously reported.

Now that is NEWS. After all, that number has been revised up for 94 of the past 97 weeks.

Claims tend to be very volatile around this time of the year because of the holidays and seasonal layoffs, making it difficult to get a clear picture of the labor market’s health.

While claims increased last week, there was nothing in the data to suggest a deterioration in labor market conditions.

The four-week moving average for new claims, a better measure of labor market trends, increased 6,750 to 365,750, still at a level consistent with steady job gains…

So why did we need to extend federal unemployment benefits?

This article was posted by Steve on Thursday, January 10th, 2013. Comments are currently closed.

3 Responses to “Highest Jobless # In 5 Weeks Shows "Stability"”

  1. USSFreedom says:

    Does the Labor Department employ ex-mob accountants from the witness protection program? Nah, the numbers would make sense.

  2. River0 says:

    What dismal failures these apparatchiks are. They’ll say anything to make themselves look good.

    Welcome to the new-old Soviet Union; formerly the U.S.A. Lies are truth, truth is racist lies, dissent is no longer “the highest form of patriotism” because Demonicrats are in power.

    Now Pravda has flipped, and is telling Americans that they should never, ever, give up their guns, and that they were freer under the Tsars when weapons of all kinds were abundant (see the story further down the queue).

    Of course the first thing the Bolsheviks did was confiscate all the people’s weapons..

  3. bousquem25 says:

    I remember listening to some idiot liberal when I flipped to a new schanel stating that the US needs to get use to the new normal. The new normal being the current unemployment rate as a sign of a health economy and that some people are going to spend 10-20 years trying to find a job.

    I’m just waiting for Obama and the other dems to push for unemployment benefits for another year, then another year, until they just decide to come out and say they want lifetime unemployment benefits. I knew people who’s boyfriend/girlfriend or spouse was collecting unemployment but the proceed to work under the table for cash as a mechanic, lawn care, ect. They also were collecting all sort of state benefits but nothing ever came of reporting them for fraud.

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