Jobless claims drop sharply last week

[ProSense]

Jobless claims drop sharply last week

by CalculatedRisk

WASHINGTON (Reuters) – New U.S. claims for unemployment insurance fell more than expected last week, government data showed on Thursday, while the number of people continuing to receive benefits in the final week of June was the lowest in seven months.

Initial claims for state unemployment benefits dropped 21,000 to a seasonally adjusted 454,000 in the week ended July 3, the lowest level since early May, the Labor Department said.

Analysts polled by Reuters had expected claims to fall to 460,000 from the previously reported 472,000, which was revised up to 475,000 in Thursday's report.

The four-week moving average of new jobless claims, seen as a better measure of underlying labor market trends, fell 1,250 to 466,000.

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[Clio the Leo]

1. love how some of the headlines read, "but things are still bad!"

DUH! lol

[Lost4words]

2. "government data showed",.....

[dmallind]

3. ..same as it showed 475K last week, and 700K last year... same data.

[impik]

6. Or the one showing the loss of all those jobs last month and the very low gain

of private sector jobs couple of months back.

Selective progressives is a sight to see.

[dmallind]

8. You mean the end of all those jobs everybody knew were temporary anyway?

Better or worse than before? Is that imporvement or not?

[alcibiades_mystery]

7. Government data is only accurate when it confirms your previous viewpoint, right?

:rofl:

[Name removed]

9. Deleted message

Message removed by moderator. Click here to review the message board rules.

[DCBob]

4. These numbers cant be right because Krugman said we were in the "midst of a depression"..

I really wish people like Krugman would stop with the hyperbole and exaggerations. We have enough problems to deal with and this kind of irresponsible talk just makes the situation worse.

[Recursion]

5. This is new claims for unemployment

It doesn't mean there are fewer unemployed people than before. It means the number of people who are claiming unemployment benefits for the first time is lower now than it was month ago.

[S_E_Fudd]

10. And I will now switch over to HuffPost to find out why this good news is actually bad...

:)

eom