HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » General Discussion (Forum) » Jobless claims improve, r...
Introducing Discussionist: A new forum by the creators of DU

Thu Sep 26, 2013, 09:18 AM

Jobless claims improve, remain near six-year low

Jobless claims improve, remain near six-year low

By Steve Benen



Expectations going into this morning suggested initial unemployment claims would start to inch higher again, but the newly released figures from the Department of Labor continue to show the opposite.

The number of new applications for unemployment benefits fell by 5,000 to 305,000 in the week ended Sept. 21, the Labor Department said Thursday. Economists polled by MarketWatch had expected claims to jump to 327,000 on a seasonally adjusted basis. A government official said Labor has been told by California that the state eliminated a backlog of claims that built up after computer-related processing delays. The delays caused the number of initial claims to fall below 300,000 in early September for the first time in more than six years. The average of new claims over the past month, a more reliable gauge than the volatile weekly number, dropped by 7,000 to 308,000. That's the lowest level since June 2007.

<...>

In terms of metrics, when jobless claims fall below the 400,000 threshold, it's considered evidence of an improving jobs landscape, and when the number drops below 370,000, it suggests jobs are being created rather quickly. At this point, we've been below 340,000 in 10 of the last 11 weeks.

Above you'll find the chart showing weekly, initial unemployment claims going back to the beginning of 2007. (Remember, unlike the monthly jobs chart, a lower number is good news.) For context, I've added an arrow to show the point at which President Obama's Recovery Act began spending money.

http://maddowblog.msnbc.com/_news/2013/09/26/20704654-jobless-claims-improve-remain-near-six-year-low


16 replies, 613 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 16 replies Author Time Post
Reply Jobless claims improve, remain near six-year low (Original post)
ProSense Sep 2013 OP
Nye Bevan Sep 2013 #1
duffyduff Sep 2013 #2
woo me with science Sep 2013 #3
ProSense Sep 2013 #4
duffyduff Sep 2013 #7
ProSense Sep 2013 #8
bobduca Sep 2013 #14
LineLineReply .
woo me with science Sep 2013 #5
SidDithers Sep 2013 #6
bighart Sep 2013 #9
ProSense Sep 2013 #10
DCBob Sep 2013 #11
WCGreen Sep 2013 #12
bighart Sep 2013 #13
ProSense Sep 2013 #15
Scurrilous Sep 2013 #16

Response to ProSense (Original post)

Thu Sep 26, 2013, 09:23 AM

1. K&R

Reply to this post

Back to top Alert abuse Link here Permalink


Response to ProSense (Original post)

Thu Sep 26, 2013, 09:30 AM

2. Means nothing. There are few jobs being created for all of the people out of work.

Anybody knows this who is possessed with any kind of common sense.

High joblessness is a deliberate neoliberal policy to drive down wages and salaries to third world levels in their demented fantasy about "global competition."

Reply to this post

Back to top Alert abuse Link here Permalink


Response to duffyduff (Reply #2)

Thu Sep 26, 2013, 09:39 AM

3. Thank you. So sick of the spin.

High joblessness is deliberate neoliberal policy.

It was Decided as broad government policy Not to have an Economic Recovery
http://www.democraticunderground.com/10023728635#post30


Reply to this post

Back to top Alert abuse Link here Permalink


Response to duffyduff (Reply #2)

Thu Sep 26, 2013, 09:49 AM

4. In some places it means something

Minnesota regains all jobs lost in recession
http://www.democraticunderground.com/1014599810

Md.'s job base returns to pre-recession levels
http://www.democraticunderground.com/1014600460

Then again, that doesn't mean everything is rosy:

http://www.democraticunderground.com/10023728635
http://www.democraticunderground.com/10023728635#post19

Reply to this post

Back to top Alert abuse Link here Permalink


Response to ProSense (Reply #4)

Thu Sep 26, 2013, 10:30 AM

7. Only to neoliberal policy wonks

The rest of us who have been discarded by the economy know a hell of a lot better.

It is a BRUTAL job market out there.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to duffyduff (Reply #7)

Thu Sep 26, 2013, 10:34 AM

8. So actual numbers and facts are only acknowledged by "neoliberal policy wonks"? n/t

Reply to this post

Back to top Alert abuse Link here Permalink


Response to ProSense (Reply #8)

Thu Sep 26, 2013, 12:25 PM

14. What about all of those who have given up

and the ways that both sides of the aisle have fudged the employment numbers to disregard the long-term unemployed?

Answers? Opinions?

Reply to this post

Back to top Alert abuse Link here Permalink


Response to duffyduff (Reply #2)

Thu Sep 26, 2013, 10:03 AM

5. .

Reply to this post

Back to top Alert abuse Link here Permalink


Response to ProSense (Original post)

Thu Sep 26, 2013, 10:04 AM

6. DU rec...nt

Sid

Reply to this post

Back to top Alert abuse Link here Permalink


Response to ProSense (Original post)

Thu Sep 26, 2013, 10:48 AM

9. Unfortunately the labor force participation rate is falling too.

http://data.bls.gov/timeseries/LNS11300000

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2003 66.4 66.4 66.3 66.4 66.4 66.5 66.2 66.1 66.1 66.1 66.1 65.9
2004 66.1 66.0 66.0 65.9 66.0 66.1 66.1 66.0 65.8 65.9 66.0 65.9
2005 65.8 65.9 65.9 66.1 66.1 66.1 66.1 66.2 66.1 66.1 66.0 66.0
2006 66.0 66.1 66.2 66.1 66.1 66.2 66.1 66.2 66.1 66.2 66.3 66.4
2007 66.4 66.3 66.2 65.9 66.0 66.0 66.0 65.8 66.0 65.8 66.0 66.0
2008 66.2 66.0 66.1 65.9 66.1 66.1 66.1 66.1 66.0 66.0 65.9 65.8
2009 65.7 65.8 65.6 65.7 65.7 65.7 65.5 65.4 65.1 65.0 65.0 64.6
2010 64.8 64.9 64.9 65.1 64.9 64.6 64.6 64.7 64.6 64.4 64.6 64.3
2011 64.2 64.2 64.2 64.2 64.2 64.0 64.0 64.1 64.2 64.1 64.1 64.0
2012 63.7 63.9 63.8 63.6 63.8 63.8 63.7 63.5 63.6 63.8 63.6 63.6
2013 63.6 63.5 63.3 63.3 63.4 63.5 63.4 63.2

Reply to this post

Back to top Alert abuse Link here Permalink


Response to bighart (Reply #9)

Thu Sep 26, 2013, 11:20 AM

10. Yes, it has been

"falling" for the last several years.

<...>

The Labor Force Participation Rate decreased to 63.2% in August (blue line) from 63.4% in July. This is the percentage of the working age population in the labor force.

The participation rate is well below the 66% to 67% rate that was normal over the last 20 years, although a significant portion of the recent decline is due to demographics.

<...>

http://www.calculatedriskblog.com/2013/09/august-employment-report-169000-jobs-73.html

Reply to this post

Back to top Alert abuse Link here Permalink


Response to ProSense (Reply #10)

Thu Sep 26, 2013, 11:44 AM

11. We havent seen this graph for some time..

Reply to this post

Back to top Alert abuse Link here Permalink


Response to DCBob (Reply #11)

Thu Sep 26, 2013, 11:56 AM

12. This chart really tells us why this "Great Recession" is the worst

economic hit to the American Economy since the Great Depression...

Reply to this post

Back to top Alert abuse Link here Permalink


Response to ProSense (Reply #10)

Thu Sep 26, 2013, 12:20 PM

13. Link to the bureau of labor statistics on labor ratio for the 25 to 54 age range.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to bighart (Reply #13)

Thu Sep 26, 2013, 12:27 PM

15. Thanks. It shows

that it dropped from 80.3 at the beginning of 2007 to 74.8 at the end of 2009.

It started climbing (some fluctuation) in 2010 and is up to 75.9 (as of August 2013).

Certainly very weak, but not falling.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to ProSense (Original post)

Thu Sep 26, 2013, 05:13 PM

16. K & R

Reply to this post

Back to top Alert abuse Link here Permalink

Reply to this thread