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(Unrevised) Jobless Claims ‘Fall Sharply’

Because of tomorrow’s federal holiday, we are getting tomorrow’s unemployment news today, from Associated Press:

Jobless claims fall sharply to 4-month low

By Christopher S. Rugaber, AP Economics Writer
November 10, 2010

WASHINGTON – Fewer people applied for unemployment aid last week, the third drop in four weeks and evidence that the job market is showing signs of life.

If the decline continues, it could signal more hiring in the near future.

Have you ever seen such relentless optimism from our normally cynical media masters? They are just as determined to talk the economy up under Mr. Obama as they were to talk it down under President Bush.

The report comes after the Labor Department said last week that private employers added the most jobs in six months in October.

The Labor Department said Wednesday that initial claims for jobless aid dropped by 24,000 to a seasonally adjusted 435,000. Many Wall Street economists expected a smaller decrease.

Imagine, some people give these mavens their hard earned money so they can play their hunches in the stock market.

The four-week average of claims, a less volatile measure, fell 10,000 to 446,500. That’s the lowest level for the average since the week that ended Sept. 13, 2008, just before the financial crisis intensified that weekend with the collapse of Lehman Brothers.

Weekly first-time claims are now at their lowest level since early July, when they were temporarily lowered by the July 4 holiday. Last week’s figures are the second-lowest this year.

Applications fell partly because the weather has been relatively warm so far this fall, a Labor Department analyst said, and construction and manufacturing firms haven’t temporarily laid off as many workers due to cold weather as they have in the past

So it’s the fault of ‘global warming’? 

By the way, as usual, the AP neglects to mention that last week’s unemployment claims were quietly revised upward.

This article was posted by Steve on Wednesday, November 10th, 2010. Comments are currently closed.

6 Responses to “(Unrevised) Jobless Claims ‘Fall Sharply’”

  1. arb says:

    “…tomorrow’s unemployment news today…”

    Really? How… unexpected.

  2. proreason says:

    The economy is going to improve somewhat and the employment situation is also going to improve. It’s close to a lock. There are many reasons for it. Here are some:

    – By it’s very nature, the American economy recovers. Of course, it recovers faster when it isn’t deliberately sabatoged
    – Some form of the Bush tax cuts will be extended
    – Republicans will control some of the worst spending excesses
    – Businessmen will look forward to total Republican control in 2012
    – Obamy himself, who knows full well what it takes to get an economy moving, will allow just enough good things to occur to get forward motion, and thus enhanc his chances of continuing his dictatorship

    It will be mitigated by the regulatroy mania / deliberate destruction of the Obamy misadministration, but the pent up demand will probably overcome what they are likely to be able to do.

    As I’ve been saying as loudly as I can, the Republicans need to be explaining loudly and clearly why the improvement is happening. If they don’t get the truth out, the lies will overcome it and the marxists will get credit.

    (ps: it is possible that the malignant narcissist in chief will sabotage any recovery. I just think the odds are against it. His own party is trying mightily to get him in chains as we speak. His ability to destroy is going to be at least somewhat restrained, and the destructive activities he will be able to accomplish will be less visible than during the first 2 years of his abomination. He is probably turning his attention to stuctural changes that will be just as destructive but will take longer to bear fruit.)

    • tranquil.night says:

      “His ability to destroy is going to be at least somewhat restrained, and the destructive activities he will be able to accomplish will be less visible than during the first 2 years of his abomination. He is probably turning his attention to stuctural changes that will be just as destructive but will take longer to bear fruit.”

      Yes and yes, which is why it’s left up to the Fed now to continue with the redistribution by using inflation now instead of higher taxes. QE2, which is just another form of Keynesianism, is short term stability setting up the long term disaster that he can once again blame on wall street and capitalism. Nor was there anything new announced in QE2, it was just the government and the Fed already publicly confirming what we all knew they were up to from the beginning.

      Thought I’d redirect you back to this convo we had in September as well: http://sweetness-light.com/archive/ap-will-not-show-korans-being-burned#comment-188365

      Delaying the Obama Tax Increases for two years as I figured he would do (although before the election to save his party’s skin) will also buy back some stability if they need it.

      I think the economy will be able to weather the policy storm so long as we keep government shut down, but I’m very nervous about how long the money supply will hold out. They’re operating on the basis that they have several years, if not an infinite source, of foreign commitment to servicing the debt. That’s not just unrealistic, it’s insane, and the international community is finally calling them on it which already is accelerating the problem. The truth is everybody should’ve been calling them on this from the beginning; they just were able to save the public announcement of QE2 for after the election to start this phase of awareness that trigger’s the theoretical meltdown.

      It’s a fire-sale. Everything must go to make way for the new. I don’t know if us Bitter Clingers to the old ways of the free markets are winning this fight right now. I have a grave feeling they’re several steps ahead of the public.

    • proreason says:

      tn: re your reference to our prior dialogue….I believe even more stongly now that the problems the country faces are only problems because of the libwits and marxists. A Reagen would cast all of these ‘problems’ in a different light and go about solving all of them very quickly and without major disruption to our way of life.

      Hardly anyone else is saying this. The marxists have been so successful at instilling fear into the public that almost everybody thinks the problems are so complicated, so ‘nuanced’, that they will take a team of Einsteins and King Solomans to resolve. But the truth is, whenever you look at an insurmountable ‘problem’ there is a simple, common-sense solution that is easy to implement. (i.e., Social Security – uh, lift the retirment age so that people who live 15 years longer now than in 1938 don’t begin collecting it only 2 years later than they did then. Phase it in by age. Problem solved in 5 minutes.)

      That approach, btw, is the thing I like best about Palin. She continually talks about common-sense solutions, which is her way of saying that we need to stop listening to the propaganda and start acting like rational, problem-solving adults.

  3. tranquil.night says:

    Major dittos to that. The problem isnt the complexities of the issues we face, we should all feel optimistic about our movement’s capability to solve them.

    There are simply too many Democrats, independents and even Republicans that still view Leftism as a compatible governing philosophy to the American system because theyre stuck in the Ruling Class universe of political correctness, which is a sociological tool employed to coax social group think attitudes to limit independent thought. If you are pro-reason, they are anti-reason, pro-emotional impulsive reaction.

    Yes, that is why Sarah, Rush, Marco, heck any true conservative specifically are so effective and dangerous to the Left. They are the true living representation of the anti-thesis to the templates of Leftist fantasies and world-views. They know and are ever-improving on how to effectively communicate this, and moreover they’re not just looking to have a political impact, but a cultural one as well.

    So Savage can call Sarah just an entertainer, and others can give Rush grief for going on Family Guy, but we know what the true objective of this media engagement is and its exactly the course that we should be pursuing. The number of people who would truly support these policy’s if they really understood them is a severe minority, especially now when they’re living through the destructive results of those policies.

  4. Liberals Demise says:

    BULL (flem spitting cough) SHIITE!!

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