Jobless Claims Plunge by 43,000

[Postmanx]

Yahoo!

WASHINGTON - New claims for unemployment insurance last week plummeted by 43,000 to a five-month low of 317,000, the Labor Department (news - web sites) said in an encouraging report for the labor market recovery. It was the sharpest decline in three years. The four-week moving average, which is less volatile, dipped to nearly 338,000 claims.

The latest snapshot of the country's trade situation, released by the Commerce Department on Thursday, actually was better than what economists were anticipating.

[procopia]

1. There must be at least that many

Salvation Army Santas, don't you think?

[BrainRants]

2. Probably due to temp Christmas hires.

IMHO the big news is the housing starts took a plunge too.

[Bono71]

10. Not to argue the point, but there are parts of the country were it

is impossible to start construction this time of year.

[BrainRants]

19. I live in Green Bay, WI

the infamous "Frozen Tundra" and we build stuff year round.

Point taken though.

[XNASA]

3. Seasonal hires.

Happens every year around this time.

[StClone]

7. Yes but watch the news

They'll say we've turned the corner -- need only 2 million jobs to call it even. Besides cycles occur in a positive direction despite the damage Bush is doing. I see this as Bush's peak -- middling.

[BrainRants]

8. Or next month it will be "revised" n/t

[deadparrot]

4. Please, it'll shoot right back up after the holidays.

[Nikepallas]

5. Yeah seasonal help would contribute to it but what those facts do not

look at are those who are still unemployed and are no longer in the system because they can no longer claim.

[KingChicken]

6. I don't want to be all gloom and doom, i'll keep watching...

I really like to know where the new hires are, unless this is just people droping off the radar and not into a real, permanate job. Time will tell...

[Postmanx]

9. Just so I'm clear on this...

...no one thinks this is good news?

Anyone?

[XNASA]

12. Nope.

Perhaps this will clear it up for you.

http://www.americanprogress.org/atf/cf/{E9245FE4-9A2B-43C7-A521-5D6FF2E06E03}/eca.gif

[Postmanx]

13. Putting your feelings for Bush aside

People going back to work is a GOOD thing.

It is not gloom and doom all the time people.

[Bono71]

14. I'll go on record and say it is good news.

[XNASA]

15. Creating minimum wage seasonal jobs is not a good thing.

Creating job "growth" IS a good thing, which means.....more real jobs, higher wages, health insurance, etc.

Creating a pool of slave labor is NOT a good thing for America.

[Just Me]

17. Bush aside,...I can honestly say it's better than nothing.

It's neither a sign that people are securing jobs which pay a living wage or that job creation is on the upswing.

It's a sign that some people may have found temporary or seasonal work that will help them survive through the holidays.

[BrainRants]

22. I'll believe it when it's not "adjusted down" in January.

Yes, new jobs are good news.

Sustained creation of new jobs are better news.

But college grads working the gift wrapping department at Sears is bad news.

[tx_dem41]

18. Sooo...you want people to be unemployed a few more months...

soo Bush sets some kind of record (held since Hoover)? Well, I'm sure they'll understand.

[XNASA]

20. That wasn't the question.

You should stop putting words in people's mouths.

The question was, "Do you think this is good news?"

My answer is, "No, it's not 'good' news." It's just news.

Good news would be if the current administration had created 'Job Growth' so that US citizens wouldn't have the rely on taking minumum wage seasonal jobs with no Health Insurance to make ends meet.

[sandnsea]

11. In order to file for UI

You have to have worked a substantial amount of time. At some point, people are going to have used up their initial unemployment, they will take temporary jobs, and then won't have any UI to claim anymore. Anybody know what the welfare filings are? That's where unemployed single moms will end up after they don't qualify for UI anymore.

[Bouncy Ball]

16. Don't people also fall off the unemployment rolls

after a certain period of time? If they are still not employed, then they are still unemployed, but they aren't counted in the official unemployed number.

[sarcasmo]

21. 7% jobless here in Michigan, the figures only deal with claims.

These figures only deal with jobless claims. Here in Michigan we have lost many jobs to Mexico. When you file for unemployment you are a jobless claim. When your unemployment runs out you are just jobless. The real figures here in Michigan IMO are around 10%. The numbers don't take into account those looking for work and are unable to get unemployment. As in all of these articles reading between the lines is a must.

[KayLaw]

23. Right, Sarcasmo

That's my neighbor's situation. People can be layed off but unable to file for unemployment.

[Moderator]

24. Duplicate

http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=102&topic_id=1076562