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Jobless Claims Down 15K = ‘Labor Market Firms’

From a walking on air Reuters:

Jobless claims fall as labor market firms

By Lucia Mutikani | January 9, 2014

WASHINGTON (Reuters) – The number of Americans filing new claims for unemployment benefits last week fell slightly more than expected, pointing to an economy that was continuing to gain steam.

Again with the ‘unexpected.’ And never mind that that they are talking about 15,000 fewer claims when there are  4.19 million Americans still on unemployment and more than 9 million have completely given up looking for work.

Initial claims for state unemployment benefits declined 15,000 to a seasonally adjusted 330,000, the Labor Department said on Thursday…

From employment to consumer spending and industrial production, the economy appears poised for sustained strong growth through 2014 after false starts in the prior years…

Under Obama ‘prosperity is always just around the corner.’ While under Bush we were always on the brink of a depression.

While jobless claims have been extremely volatile around the holiday season, they are still largely consistent with other labor market indicators that have painted an upbeat picture of the jobs market and the overall economy…

The Labor Department is expected to report on Friday that non-farm payrolls increased by 196,000 last month after gaining 203,000 in November, according to a Reuters poll of economists.

The unemployment rate is forecast to be steady at a five-year low of 7.0 percent…

And never mind that this is the same news media that used to complain about 4% unemployment under Bush.

A total of 4.19 million people were receiving benefits under all programs in the week ended December 21.

But the number of new claims is down by 15,000! (Maybe.)

With benefits for more than a million long-term unemployed Americans having expired on December 28, that figure should decline sharply in the weeks ahead.

Why do we need to extend federal unemployment benefits again when hiring is booming like this? The Obama administration and their media minions need to pick a story and stick to it.

This article was posted by Steve Gilbert on Thursday, January 9th, 2014. Comments are currently closed.

One Response to “Jobless Claims Down 15K = ‘Labor Market Firms’”

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