DLT
10-16-2014, 01:04 PM
Once again, the implication on jobs numbers is that the job market is improving. Huh??? Well, let's see now. This is mid-October. Thanksgiving is next month. Christmas is only 10 weeks away....a little over two months. So...uh...yeah. One would expect a few more job openings over the next few months. It's called "seasonal hiring". And it, like many Obamacare-forced under-forty-hour jobs these days, is only part time employment.
So last week there were only 264,000 unemployment claims. The previous week there were 287,000 unemployment claims. Meanwhile....last month....employers only added 248,000 workers in September. Am I the only one here that sees the fallacy in this 'rose-colored-glasses' BS?
Jobless Claims in U.S. Unexpectedly Decrease to 14-Year Low
Oct. 16 (Bloomberg) -- Applications for unemployment benefits in the U.S. unexpectedly dropped last week to their lowest level in 14 years as employers avoided trimming staff even as global growth weakens.
Jobless claims decreased by 23,000 to 264,000 in the week ended Oct. 11, the fewest since April 2000 and lower than any projection in the Bloomberg survey of economists, a Labor Department report showed today in Washington. There was nothing unusual in the data and no states were estimated, a spokesman said as the figures were released.
The labor market is showing an “improving trend,” Millan Mulraine, deputy head of U.S. research and strategy at TD Securities USA LLC in New York, said before the report. “Businesses feel, at worst, comfortable with their employee ranks and at best, looking at hiring.”
Companies are beefing up staff as payrolls this year remain on track for their biggest gain since 1999. The risk remains that economic slowdowns in Europe and China, a plunge in commodity prices and geopolitical and health risks including the Ebola outbreak hurt confidence and curb further progress.
The median forecast of 49 economists surveyed by Bloomberg projected the number of claims would increase to 290,000 last week. Estimates ranged from 280,000 to 300,000. The prior week’s reading was unrevised at 287,000.
The four-week average of claims, a less-volatile measure than the weekly figure, declined to 283,500, the lowest since June 2000, from 287,750 in the prior week.
Continuing Claims
The number of people continuing to receive jobless benefits rose by 7,000 to 2.39 million in the week ended Oct. 4. The unemployment rate among people eligible for benefits held at 1.8 percent during that period, today’s report showed.
A sustained drop in firings typically coincides with a pickup in hiring. Employers added 248,000 workers to payrolls in September, according to Labor Department data. The unemployment rate fell to 5.9 percent, the lowest since 2008. Job gains stayed on pace for their best year since 1999.
Economists project the progress in employment will help mend household balance sheets and lift consumer purchases. That spending, the biggest part of the economy, is poised to grow 2.7 percent next year after a 2.3 percent gain in 2014, according to the latest Bloomberg survey of economists.
At the same time, a weakening in global growth threatens to limit demand and dampen optimism about job gains.
http://www.msn.com/en-us/money/markets/jobless-claims-in-us-unexpectedly-decrease-to-14-year-low/ar-BB9pLJe
So last week there were only 264,000 unemployment claims. The previous week there were 287,000 unemployment claims. Meanwhile....last month....employers only added 248,000 workers in September. Am I the only one here that sees the fallacy in this 'rose-colored-glasses' BS?
Jobless Claims in U.S. Unexpectedly Decrease to 14-Year Low
Oct. 16 (Bloomberg) -- Applications for unemployment benefits in the U.S. unexpectedly dropped last week to their lowest level in 14 years as employers avoided trimming staff even as global growth weakens.
Jobless claims decreased by 23,000 to 264,000 in the week ended Oct. 11, the fewest since April 2000 and lower than any projection in the Bloomberg survey of economists, a Labor Department report showed today in Washington. There was nothing unusual in the data and no states were estimated, a spokesman said as the figures were released.
The labor market is showing an “improving trend,” Millan Mulraine, deputy head of U.S. research and strategy at TD Securities USA LLC in New York, said before the report. “Businesses feel, at worst, comfortable with their employee ranks and at best, looking at hiring.”
Companies are beefing up staff as payrolls this year remain on track for their biggest gain since 1999. The risk remains that economic slowdowns in Europe and China, a plunge in commodity prices and geopolitical and health risks including the Ebola outbreak hurt confidence and curb further progress.
The median forecast of 49 economists surveyed by Bloomberg projected the number of claims would increase to 290,000 last week. Estimates ranged from 280,000 to 300,000. The prior week’s reading was unrevised at 287,000.
The four-week average of claims, a less-volatile measure than the weekly figure, declined to 283,500, the lowest since June 2000, from 287,750 in the prior week.
Continuing Claims
The number of people continuing to receive jobless benefits rose by 7,000 to 2.39 million in the week ended Oct. 4. The unemployment rate among people eligible for benefits held at 1.8 percent during that period, today’s report showed.
A sustained drop in firings typically coincides with a pickup in hiring. Employers added 248,000 workers to payrolls in September, according to Labor Department data. The unemployment rate fell to 5.9 percent, the lowest since 2008. Job gains stayed on pace for their best year since 1999.
Economists project the progress in employment will help mend household balance sheets and lift consumer purchases. That spending, the biggest part of the economy, is poised to grow 2.7 percent next year after a 2.3 percent gain in 2014, according to the latest Bloomberg survey of economists.
At the same time, a weakening in global growth threatens to limit demand and dampen optimism about job gains.
http://www.msn.com/en-us/money/markets/jobless-claims-in-us-unexpectedly-decrease-to-14-year-low/ar-BB9pLJe