The Briefing Room

General Category => Economy/Business => Topic started by: mystery-ak on February 27, 2014, 01:50:07 pm

Title: Jobless claims climb unexpectedly
Post by: mystery-ak on February 27, 2014, 01:50:07 pm

http://www.msnbc.com/rachel-maddow-show/jobless-claims-climb-unexpectedly (http://www.msnbc.com/rachel-maddow-show/jobless-claims-climb-unexpectedly)


Jobless claims climb unexpectedly
02/27/14 08:37 AM

By Steve Benen

(http://www.msnbc.com/sites/msnbc/files/styles/embedded_image/public/article-teasers/2.27.14.jpg?itok=Mw80S4fY)

So far in 2014, initial unemployment claims have been largely stuck, though we were supposed to see some progress this morning. According to the new figures from the Labor Department, we didn’t.

Quote

The number of people who applied for U.S. unemployment benefits jumped by 14,000 to 348,000 last week to match a five-week high, the Labor Department said Thursday. Economists surveyed by MarketWatch expected claims to total 335,000 on a seasonally adjusted basis. The average of new claims over the past month, a more reliable gauge than the volatile weekly number, was unchanged at 338,250.

To reiterate the point I make every Thursday morning, it’s worth remembering that week-to-week results can vary widely, and it’s best not to read too much significance into any one report.
 
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 370,000 in 19 of the last 20 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.

Title: Re: Jobless claims climb unexpectedly
Post by: Gazoo on February 27, 2014, 01:56:33 pm

Possibly all of the temp work created of people removing all of the coco-cola/junk food machines from school? But the condom companies won't be so busy removing machines.

Title: Re: Jobless claims climb unexpectedly
Post by: Oceander on February 27, 2014, 02:01:49 pm

what is this "unexpectedly"?  I don't think that word means what they think it means.

Title: Re: Jobless claims climb unexpectedly
Post by: aligncare on February 27, 2014, 02:14:01 pm

Exactly what I was thinking, Ocean. Funny how these jump in claims are always reported as "unexpected."

Title: Re: Jobless claims climb unexpectedly
Post by: rangerrebew on February 27, 2014, 02:15:11 pm

It isn't so much "unexpectedly" as it is "unwantedly."

Title: Re: Jobless claims climb unexpectedly
Post by: Oceander on February 27, 2014, 02:16:03 pm

(http://verysmartbrothas.com/images/Do-not-think-it-means.jpeg?c07647)

Title: Re: Jobless claims climb unexpectedly
Post by: aligncare on February 27, 2014, 02:35:42 pm

The graph-line trends down steadily as people drop out of the workforce. Nothing unexpected about the trend with Obama in office and his buddy Harry Reid in the Senate.

Title: Re: Jobless claims climb unexpectedly
Post by: aligncare on February 27, 2014, 02:41:40 pm

It's unfathomable we've reached the point where two people alone have the power to destroy America. Okay, simplistic. I know, there are minions in the media, democrats in bureaucracies in state houses and at the fed level etc. But you get my point.