Jobless claims fall to lowest level in months in sign economy is holding up

[mystery-ak]

Jobless claims fall to lowest level in months in sign economy is holding up
by Zachary Halaschak, Economics Reporter |
January 05, 2023 08:31 AM

The number of new applications for unemployment benefits dropped by 19,000 to 204,000 last week, the Labor Department reported Thursday.

Falling jobless claims are a sign the labor market is remaining resilient despite the Federal Reserve’s historic effort to tighten monetary policy to slow economywide spending and drive down inflation. Last week's number is the lowest since September.

The weekly jobless claims number has been closely watched over the past year or so, given the Fed’s aggressive pace of rate hikes. The report comes after the central bank raised rates by 50 basis points in December and is likely to increase the rate again at the end of this month. The report, coupled with another strong report on job openings this week, will give the Fed more ammo to continue driving up rates.

"The Federal Reserve looks more likely than ever to push interest rates up to their 5.25% terminal rate forecast this year. Stock investors got the hint and sold shares as there is not much of a recession to be seen in any of today’s economic reports," said Chris Rupkey, chief economist at FWDBONDS.

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https://www.washingtonexaminer.com/policy/economy/jobless-claims-fall-as-fed-eyes-more-rate-hikes

[Bigun]

Jobless claims fall to lowest level in months in sign economy is holding up

Or that many have just quit looking.

[Smokin Joe]

Or that many have just quit looking.

This is meaningless dreck. If you have exhausted unemployment benefits, you can;t file a "jobless claim". Once the tit is sucked dry, you don't count. Wait long enough and you aren't even part of the labor force any more.

It's all cooking the books to make the >bleep< in DC look better.

[catfish1957]

I'll just briefly say  that this adminstration has lied 99% about everything.  I mean everything. 

So, why should we believe any statistic, be it unemployment, CPI, or anything else.

A few months, I personally demonstrated that even in my most austere state, inflation at least on my account was 15%, while the liars were reporting 8%. 

That's all.

[Weird Tolkienish Figure]

I don't know. The gas stations around me have shuttered their 24 hour service due to lack of staffing.

[catfish1957]

I don't know. The gas stations around me have shuttered their 24 hour service due to lack of staffing.

Actually am seeing a down tick of "hlep wanted" signs in my vicinity, and some of our fast food operations like McDonalds and Whatburger have returned to 24/7 drive through service.

I sure there is all kind of variation regionally.  I just am of the opinion, that whatever Biden's financial team gives us is bullshit.

[roamer_1]

Just wait till they adjust the numbers a month or two from now... on page 15. In small print.

[GtHawk]

This is meaningless dreck. If you have exhausted unemployment benefits, you can;t file a "jobless claim". Once the tit is sucked dry, you don't count. Wait long enough and you aren't even part of the labor force any more.

It's all cooking the books to make the >bleep< in DC look better.

Hey it's Jan 5, 2023 who doesn't think the next story will be about the unexpected rise in jobless claims as all of those who lost their temporary seasonal jobs file for unemployment?

[Smokin Joe]

I'll just briefly say  that this adminstration has lied 99% about everything.  I mean everything. 

So, why should we believe any statistic, be it unemployment, CPI, or anything else.

A few months, I personally demonstrated that even in my most austere state, inflation at least on my account was 15%, while the liars were reporting 8%. 

That's all.

Well, the stat I use is the APR on credit cards.

With a FICO well north of 800, interest on purchases is nearing 18%.
Welcome back Carter!

[GtHawk]

This is meaningless dreck. If you have exhausted unemployment benefits, you can;t file a "jobless claim". Once the tit is sucked dry, you don't count. Wait long enough and you aren't even part of the labor force any more.

It's all cooking the books to make the >bleep< in DC look better.

Exactly what happened to me, no one would hire me for anything more than minimum, once you get to a certain age experience doesn't matter, \sometimes it's even their excuse for not hiring you, instead of saying you're too old they sorry you're just too experienced for the position after something 18 or twenty months I just gave up applied for the disabled status I could have gotten years before and had my surgeries So yeah I am intimately acquainted with the running out of benefits and being erased from the labor force......and almost ten years later I'm still pissed off!

[roamer_1]

Exactly what happened to me, no one would hire me for anything more than minimum, once you get to a certain age experience doesn't matter, \sometimes it's even their excuse for not hiring you, instead of saying you're too old they sorry you're just too experienced for the position after something 18 or twenty months I just gave up applied for the disabled status I could have gotten years before and had my surgeries So yeah I am intimately acquainted with the running out of benefits and being erased from the labor force......and almost ten years later I'm still pissed off!

Get a side-hustle going... Handy-man... lawn guy... pooter tech or fix it guy if you're handy... You won't believe how much work there is out there.

[GtHawk]

Get a side-hustle going... Handy-man... lawn guy... pooter tech or fix it guy if you're handy... You won't believe how much work there is out there.

Nope, first of all needed the steady income to pay my mortgage and health insurance, especially for my wife...me too and this was during the O'buttbanger and Brandon destruction of the economy. And, oh yeah, I guess most importantly after twenty five years of front line customer service as a manager of fast food I truly and completely hated people, not all just the majority and I had too many experiences with the 'I know that wasn't included in the price but your here so can't you just fix this too...for free of course. But mainly it was the requirement of a steady income that paid my insurance and mortgage. I was getting to physically beat up to out gangbusters on my own but I would have kept working for probably ten more years if I wasn't age discriminated out of the market.