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New Jobless Claims Down For 2nd Week

From a surprisingly unsurprised Associated Press:

Data shows jobless claims drop, retail sales rise

By Christopher S. Rugaber, AP Economics Writer
September 2, 2010

WASHINGTON – … New applications for unemployment benefits declined for a second straight week after rising in the previous three. Retailers reported surprisingly strong sales in August. And more people signed contracts to buy homes…

New claims for unemployment aid fell last week by 6,000 to a seasonally adjusted 472,000, the Labor Department said Thursday. The four-week average of claims, a less-volatile measure, fell by 2,500 to 485,500, its first decrease after four straight increases

Perhaps the ‘Summer Of Recovery’ will turn out to be a ‘Week Of Recovery.’ Oh, and never mind that these numbers will probably be quietly revised for the worse next week.

In a separate report, the Labor Department said productivity fell in the spring by the largest amount in nearly four years while labor costs rose. That indicates companies may have reached the limits of their ability to squeeze more work out of their reduced work forces.

Unless you see rising productivity as a sign that more employers will need to hire, as our media masters sometimes do.

When it suits them.

This article was posted by Steve on Thursday, September 2nd, 2010. Comments are currently closed.

4 Responses to “New Jobless Claims Down For 2nd Week”

  1. oldpuppydixie says:

    Lest we forget, there is an ELECTION coming up in a couple of months. I’d be VERY surprised to find a steady stream of bad numbers between now and November. After all, they can always be revised DOWNWARD after bureaucrats save as many democrat seats as possible!!

    • Right of the People says:

      Look for unemployment to shoot upwards the week of November 8th, especially of the Dimwits lose as many seats as predicted. After all in the Impotent One’s mind it will now be the Republican’s problem.

  2. TwilightZoned says:

    Gee…could this have anything to do with the kiddies going back to school? (sarc)

  3. proreason says:

    “productivity fell in the spring by the largest amount in nearly four years while labor costs rose. ”

    low paid census workers

    The inane way they define productivity is GDP$ / hours worked, so adding 1 million workers at slightly above minimum wage drives productivity down.

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