The Briefing Room

General Category => Economy/Business => Topic started by: Weird Tolkienish Figure on March 02, 2017, 02:38:05 pm

Title: U.S. Initial Jobless Claims Drop to Lowest in Almost 44 Years
Post by: Weird Tolkienish Figure on March 02, 2017, 02:38:05 pm

https://www.bloomberg.com/news/articles/2017-03-02/u-s-initial-jobless-claims-drop-to-lowest-in-almost-44-years?cmpid=socialflow-twitter-business&utm_content=business&utm_campaign=socialflow-organic&utm_source=twitter&utm_medium=social

Quote

[/size]The fewest Americans in almost 44 years filed applications to collect unemployment benefits last week, indicating the job market continues to power forward.[/color]

Title: Re: U.S. Initial Jobless Claims Drop to Lowest in Almost 44 Years
Post by: Night Hides Not on March 02, 2017, 03:26:12 pm

Let me know when U-6 approaches 5% (now at 9.4%)...that's a better evaluation of unemployment than the highly publicized U-3.

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U3 is the official unemployment rate. U5 includes discouraged workers and all other marginally attached workers. U6 adds on those workers who are part-time purely for economic reasons. The current U6 unemployment rate as of January 2017 is 9.40.

http://www.macrotrends.net/1377/u6-unemployment-rate (http://www.macrotrends.net/1377/u6-unemployment-rate)

Title: Re: U.S. Initial Jobless Claims Drop to Lowest in Almost 44 Years
Post by: Applewood on March 05, 2017, 04:14:36 pm

Learned a long time ago, never trust official government statistics, particularly when it comes to unemployment. 

Notice that Bloomberg uses the phrase "the job market continues to power forward."  Continues?  The job market has been decaying since at least President Bush's term.  Probably longer.  And it worsened considerably under Obama's 8 year regime.  So, Bloomberg, when did the job market start picking up?  Somehow I missed it.