U.S. jobless claims fall more than expected
Source: Reuters
Markets | Wed Nov 25, 2015 8:38am EST
U.S. jobless claims fall more than expected
WASHINGTON
Nov 25 - The number of Americans filing for unemployment benefits fell more than expected last week, drifting back to near 42-year lows as labor market conditions continue to tighten.
Initial claims for state unemployment benefits declined 12,000 to a seasonally adjusted 260,000 for the week ended Nov. 21, the Labor Department said on Wednesday.
The prior week's claims were revised to show 1,000 more applications received than previously reported. Claims have now held below the 300,000 threshold for 38 consecutive weeks, the longest stretch in years, and remain close to levels last seen in the early 1970s. Claims below this level are usually associated with a healthy jobs market.
Economists polled by Reuters had forecast claims dipping to 270,000 last week. A Labor Department analyst said there were no special factors influencing the data and only claims for Louisiana had been estimated.
Read more: http://www.reuters.com/article/2015/11/25/us-unemployment-usa-idUSKBN0TE1N120151125
It's a day early this week.
Unemployment Insurance Weekly Claims Report {11/25/2015}
Source: U.S. Department of Labor Employment and Training Administration (ETA)
Connect with DOL at http://blog.dol.gov
TRANSMISSION OF MATERIALS IN THIS RELEASE IS EMBARGOED UNTIL 8:30 A.M. (Eastern) Wednesday, November 25, 2015
UNEMPLOYMENT INSURANCE WEEKLY CLAIMS
SEASONALLY ADJUSTED DATA
In the week ending November 21, the advance figure for seasonally adjusted initial claims was 260,000, a decrease of 12,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 271,000 to 272,000. The 4-week moving average was 271,000, unchanged from the previous week's revised average. The previous week's average was revised up by 250 from 270,750 to 271,000.
There were no special factors impacting this week's initial claims.
The advance seasonally adjusted insured unemployment rate was 1.6 percent for the week ending November 14, unchanged from the previous week's unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending November 14 was 2,207,000, an increase of 34,000 from the previous week's revised level. The previous week's level was revised down by 2,000 from 2,175,000 to 2,173,000. The 4-week moving average was 2,181,750, an increase of 15,250 from the previous week's revised average. The previous week's average was revised down by 500 from 2,167,000 to 2,166,500.
UNADJUSTED DATA
....
The total number of people claiming benefits in all programs for the week ending November 7 was 1,955,068, an increase of 4,202 from the previous week. There were 2,120,705 persons claiming benefits in all programs in the comparable week in 2014.
JoePhilly
(27,787 posts)stevenleser
(32,886 posts)Expect them in 3..2..1..
JoePhilly
(27,787 posts)UE has dropped from 10.2% to 5%, and apparently, its all Christmas hiring.
And yup, they should be along any second to explain why this is actually bad news. I like to jump into these threads early and predict which talking point they'll use.
NurseJackie
(42,862 posts)JoePhilly
(27,787 posts)toddwv
(2,830 posts)Then they'll go on and on about a metric that saw seldom use: the labor participation rate.
Then they'll complain about how the numbers are "fixed."
If the change is a big as is being reported, then you can pretty much guarantee that there will be an adjustment, usually positive, when the full data comes in.
So they'll complain about that too.
Funtatlaguy
(10,870 posts)Ain't that the truth
livetohike
(22,140 posts)SmittynMo
(3,544 posts)that these numbers don't mean shit.
It does not account for the fact that working part time does not give anyone ground to stand on and make a decent living.
Part time is Part time.
It does not account for people, such as myself, that quit looking. Age discrimination is live and well in America.
It does not account for the fact that many people are working 2, 3, 4 jobs, with no social life, just to make ends meet. Gee that makes for a real good family life, doesn't it? NOT!!
It does not account for the fact that a large percentage of workers laid off in the last 5 years have taken jobs 1/4 to 1/2 of what they were making.
If you want the real numbers, give Bernie a listen to. Pay particular attention to the number of people in poverty(27M) and the REAL unemployment numbers. The numbers for adults 18-25, is ridiculously high.
Does anyone think the TOP candidates are going to do anything about these REAL numbers? Only one candidate is talking about it. The only one that wants to make real change, and rebuild the middle class. The others could care less.
Rant done.
whatthehey
(3,660 posts)But literate folks know these are initial claims - a unilateral measure of the pace of layoffs which indicates whether more or fewer people are filing new UE benefit claims in the relevant week.
Fuck all to do with PT vs FT, pay rates, discouraged workers etc (all of which are measured and also all improving however).
Lochloosa
(16,063 posts)mahatmakanejeeves
(57,425 posts)The data on unemployment as a whole come out the first Friday of the month (usually). The latest numbers for that information are here:
Payroll employment rises by 271,000 in October; jobless rate essentially unchanged (5.0%)
Matthew28
(1,798 posts)Obama has turned the ship around! Now we need a jobs bill providing for more infrastructure, science, r&d and educational funding. Of course, the republicans won't do it as they don't give a damn about this country.