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Jobless Numbers Lower Than Expected

From the hope-mongers at Reuters:

Jobless claims fall more than expected

By Doug Palmer

WASHINGTON | Thu Jan 20, 2011

WASHINGTON (Reuters) – U.S. claims for initial jobless benefits last week posted their biggest decline in nearly a year, erasing a holiday-related spike to show a trend toward a healthier labor market remained intact.

The number of Americans filing for first-time unemployment benefits dropped sharply to 404,000 from a downwardly revised reading of 441,000 in the prior week, the Labor Department said on Thursday.

Given that this "biggest decline" is only because we are coming off of the prior week’s biggest increase in new claims in six month, it doesn’t seem like there is all that much to crow about..

The 37,000 drop in claims was the biggest since the week that ended February 6, when claims fell by 51,000. Analysts had expected weekly jobless claims to fall to 420,000

You know what, we don’t give a damn what these analysts had expected. They are the most obvious of straw men. They are only used to try to spin the news to benefit the administration.

A Labor Department official said the larger-than-expected decline was partly explained by jobless claims returning to trend after the big rise the earlier week.

The big spike in the week ended January 8 may have reflected a backlog of claims built up over the holiday season

Never mind that last week’s numbers were supposed to be ‘seasonally adjusted.’ Obviously, there has never been a Christmas holiday in the history of the United States Department of Labor. This was completely new territory.

Economists say getting the four-week average for new jobless claims below 400,000 would be an important signal the lofty unemployment rate was set to come down

They talk like unemployment is some kind of beast with a mind of its own.

The jobless rate will go down when more people are hired. It isn’t too complicated. We don’t need to rely on omens.

This article was posted by Steve on Thursday, January 20th, 2011. Comments are currently closed.

12 Responses to “Jobless Numbers Lower Than Expected”

  1. River0 says:

    Taxation, slander, regulation, and disrespect plague American business; and I’ve seen this building for most of my life. Until our citizens wake up and recognize the duplicitous nature of the ‘progressive’/crypto-Marxists in Washington D.C. and outside it, we’ll face a diminishing economy and a declining employment market.

    Aside from their outright hostility toward corporations and business in general, ‘progressives’ are economically illiterate, refusing to acknowledge basic principles of the free market which are proven to work. As long as they remain in charge, we’re in deep trouble.

    • Petronius says:

      Well said, RiverO.

      Here are ten easy steps to reduce unemployment immediately :

      1. Stop Immigration Now (SIN).

      2. Reduce the payroll tax rate paid by employers.

      3. Cut the 35% corporate tax rate by about half. Allow repatriation of overseas profits at a lower tax rate.

      4. Free trade does not mean unfair trade. It’s time to protect American businesses and workers from unfair foreign competition.

      5. Repeal Obama-care.

      6. Reduce unemployment compensation.

      7. Lift the ban on drilling oil in the Gulf, Alaska, and Virginia coast.

      8. Stop the government’s undeclared war on coal.

      9. Get the big Liberal boot off the neck of American business.

      10. Stop blaming everything on Bush. Instead, let’s have a national commitment to removing all Liberals, Marxists, Democrats, and other nihilists from public office across the land. A corollary is that we don’t want to hear any more whining from Liberals.

    • Right of the People says:


      Might I add a 7a sir? Lift the ban on drilling oil & natural gas in the continental United States.

      11) De fund and decommission the EPA.
      12) Start building more nuke plants.

  2. Liberals Demise says:

    It’s that time of the month again, hmmmmm?

  3. Tater Salad says:

    Will the left wing/liberal media report on the article below? No! While our tax dollars bailed out General Motors we also are bailing out Mexican workers and giving them jobs while American workers are still waiting for their jobs to be created with bailout and stimulus money.

    Thank you Barack Obama. I see you want the American worker to “stay unemployed”. Pathetic!


  4. canary says:

    My son got a job application with Obama’s expanded tax credits to companies who hire felons, 16-25 who never went to high school, & other qualifiers. This is being replaced by Obama’s wage matching of paying 40% of workers wages (the business pays the 60%) McDonalds is a hoot. At minimum wage with a dime raise after 3 months, but we don’t know until he goes through the online application if he’ll have to fill out one of those category papers.
    Mc Donalds is importing some beef from South America because there is a shortage of “lean” beef in the U.S. and the leaner the beef, the less methane emissions and heat to cook the beef. One of our McDonalds gets no business because they hired only foreign speaking people. Now all of a sudden they need all these workers. There’s hope, but it will cost you.

    • proreason says:

      I have to say that McDonald’s is the last company in the world that is going to increase employment because of government incentives.

      McD’s has its business down to a science, If an area can support a business, they put one there. If it can’t, they don’t. I just don’t see how a temporary match of 40% is going to cause them to make a million+ dollar investment (the cost to build the store) so that the can save $4 an hour for a few people for a year.

      At best, it will be like the cash-for-clunkers scam. In other words, it will cause McD’s to accelerate opening a store or two where they would not have done so for a year or so. More likely, it will just be a gift of $4 / hour TO MCDONALDS for hiring thousands of employees who would have been hired for normal operations anyway.

      From the taxpayers’ pockets to the pockets of one of the largest and most profitable corporations in the world.

      Fascism illustrated.

    • beautyofreason says:

      I agree, Pro. On a side note I think that McDonald’s is franchise-owned, meaning that the company sells the food and the right to use the logo, plans, etc in exchange for individual “entrepreneurs” who buy the land, invest their own money to build the store, hire the workers, etc. So if incentives drive anyone to build more restaurants it will be individuals, not the actual company. It’s still a risky bet. Fast food outlets do pretty good in economic downturns because the food is cheap, but most restaurants close within the first year of business.

      Also, since average turnover for a McDonald’s employee is only a few months, I’m sure that they will get a lot of new hirings and money from the government – for standard jobs.

  5. P. Aaron says:

    The administration is continually flooding the zone with these numbers to muddy the monthly results and muddle the devastating impact of thier job-killing policies is really having.

  6. eaglewingz08 says:

    Waiting for the two week delay in Labor Department revising figures up.

  7. bobdog says:

    I’m so relieved to hear that happy days are here again.

    And so must be the 15.3 million people who don’t have jobs.

    Why, at THIS rate, …

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