New jobless claims plummet, now below long-term average
According to the Labor Department, initial jobless claims fell to 339,000 last week, a decline of 30,000 from the previous week.
That’s notable for several reasons. First, it’s the lowest weekly total since February 2008. It’s also a 16.3 percent decrease in initial jobless claims from the same week a year ago, and perhaps most importantly, it is lower than the long-term average of 363,460 jobless claims filed per week.
There are reasons to be cautious. One-week fluctuations are not long-term trends, and economists would be more reassured if numbers in the next few weeks continued this trend. But as the chart below clearly indicates, jobless filings peaked in March 2009 — two to three weeks after passage of the stimulus bill — and have been steadily declining ever since.
UPDATE: From CNN, another reason for caution:
Much of the drop last week was caused by an anomaly, a Labor Department analyst told CNNMoney. One state posted a large decline in claims, which is not typical during the last week in September.
The drop probably occurred because that state didn’t fully process end-of-quarter claims, the Labor Department analyst said. If that’s the case, it’s possible initial claims could shoot back up next week, once those claims are processed.
US Initial Claims for Unemployment Insurance data by YCharts
– Jay Bookman
Tell us what you think about the site
Customer Care »
Vacation stops, manage subscriptions and more
AJC Services
Sections
Other Editions
Visitor Agreement | Privacy Statement
© 2013 The Atlanta Journal-Constitution
551 comments Add your comment
Thulsa Doom
October 11th, 2012
12:26 pm
Trying to make good economic news out of 1 week’s worth of jobless claims is taking a bigger leap than Carl Lewis in the triple jump.
The reality is that last week’s unemployment number of 7.8% will end up being revised upward. Somehow or another the liberals forgot that the more reliable number of only 104,000 private sector jobs is far more relevant. That’s 104,000 in an economy that needs 150,000 just to keep pace with the number of new entrants into the workforce.
Can’t say I agree with Jack Welch about the Labor dept. fudging the numbers 5 weeks before the election. Does look very suspicious though.
We’re still going backwards folks and trying to spin the numbers isn’t going to change that.
getalife
October 11th, 2012
12:27 pm
“ABC and NBC news aren’t much better.”
Corporate media is corporate media.
Not credible.
Joseph
October 11th, 2012
12:27 pm
The difference between the U-3 and U-6 is 6.9%. Lets go back to to Sept 07′ when the difference was 5%”
yes. the difference isn’t a constant – sometimes people are looking, sometimes they are discouraged.
But the gap has never been this big and has been since Obama has been in office.
“Makes you wonder…”
not really – if you educated yourself on how it works, it all makes sense.
It still makes me wonder what goes on in the mind of a liberal when facts are right there in front of you and are still simply ignored…..
Goldie
October 11th, 2012
12:27 pm
“Yes its great news for American families that home values are at an all-time low and middle class income has fallen almost $5000 since Oblama has assumed office.”
Thanks for reminding us all, Joseph, that you Cons are the ones who destroyed our economy in 2007!
Mighty Righty
October 11th, 2012
12:28 pm
Repeating a lie over and over does not make it true as Romney explained to Obama during the debate. It is well known and has been since the fictional numbers were reported this A.M. that the weekly new unemloyment claims number for last week are not a full reporting of all states. So the numbers have no meaning and repeating them does not change that fact.
Data Massaging Continues: Initial Claims Tumble To 339K Lowest Since 2008, Far Below Lowest Expectation
Submitted by Tyler Durden on 10/11/2012 08:42 -0400
BLSBureau of Labor StatisticsNew NormalSteve LiesmanTrade DeficitUnemployment
This is just getting stupid. After expectations of a rebound in initial claims from 367K last week (naturally revised higher to 369K), to 370K (with the lowest of all sellside expectations at 355K), the past week mysteriously, yet so very unsurprisingly in the aftermath of the fudged BLS unemployment number, saw claims tumble to a number that is so ridiculous not even CNBC’s Steve Liesman bothered defending it, or 339K. Ironically, not even the Labor Department is defending it: it said that “one large state didn’t report some quarterly figures.”
LG77
October 11th, 2012
12:28 pm
Meanwhile in other news from CNBC….
“As Dow Jones reported: ‘A Labor Department economist said one large state didn’t report additional quarterly figures as expected, accounting for a substantial part of the decrease.’ The state did report weekly jobless claims but did not process and report its quarterly claims number (when many people have to reapply for benefits for technical reasons as opposed to being newly laid off). As a result, there wasn’t the expected spike in claims that normally happens at the start of the quarter.
It is unclear why that happened or how unusual that is. What is clear is that the expected spike in claims around the start of each quarter was smaller this time than usual. Coupled with the seasonal adjustment (that expected a bigger increase), that pushed down the headline figure. In other words, the drop of 30,000 last week had more to do with the lack of expected re-filings at the start of the fourth quarter than with any particular improvement in labor market conditions.”
And there’s always the rest of the story, isn’t there? Now without further ado, let’s prime the pump for the VP debate this evening. Obama said “Joe just needs to be Joe.” Oh my, how the mighty have fallen…
“If we do everything right, if we do it with absolute certainty, there’s still a 30% chance we’re going to get it wrong.”
JamVet
October 11th, 2012
12:28 pm
ex-jarhead, you would know about such things. Along with drinking early in the day.
mike, puhleeze, like you give a flying ____ about middle class American families and their home value problems.
You’re WAY too busy licking Wall Street arses for such sentimentality…
Joseph
October 11th, 2012
12:29 pm
Goldie:
Blame blame blame… You fruits are a funny lot….
Thulsa Doom
October 11th, 2012
12:29 pm
“If indigo’s post at 11:44 is true, how is this all Bush’s fault?”
Its not. Its Lehrer’s fault.
Paul
October 11th, 2012
12:31 pm
Joseph
When and why did home values plummet?
nofreecheese
October 11th, 2012
12:31 pm
Jay,
It’s apparent you favor a government-controlled economy; that you genuinely feel it is immoral for private citizens to have wealth and power that they can wield over private citizens. Can you please cite one example where increased government control over an economy has made the average citizen more prosperous? It’s all resentment and jealousy you hack.
JamVet
October 11th, 2012
12:31 pm
Doomy, as a huge track and field fan, I love the Carl Lewis reference.
But using him as an analogy to completely discount a long trend in recovering form the Bush Depression is like having him sing the national anthem!
Redneck Convert (R--and proud of it)
October 11th, 2012
12:32 pm
You’re WAY too busy licking Wall Street arses for such sentimentality…
Well, seems to me JamVet deserves some time out too. Mike don’t do that. He might give a little kiss once in a while, but lick? Never!
USinUK - not very ladylike (and former Girl Scout)
October 11th, 2012
12:32 pm
“But the gap has never been this big and has been since Obama has been in office. ”
bollocks.
look at the graph in 2008 – THAT is when the gap between U3 and U6 widened – not AFTER Obama.
https://community.scottrade.com/photos/12249
Paul
October 11th, 2012
12:32 pm
ohmygosh
That last post to Joseph was a BIG mistake.
The floodgates have been opened…. the deluge is coming…
Duck, clear thinkers! Here it comes: Bwaney Frank and Fannie May!
Thulsa Doom
October 11th, 2012
12:32 pm
Mighty Righty,
I turned on CNBC right after the 7.8% numbers came out that morning to see what they were saying. They didn’t think the numbers were believable either judging by their comments.
RB from Gwinnett
October 11th, 2012
12:32 pm
Seriously Jammie? You don’t care that the WH fabricated some BS story about a video and fed it to the people to avoid admitting we suffered a terrorist attack from the enemy the POTUS just got through telling us was depleted? Pull your head out, dude. You’ll see more clearly without O’s BS in your eyes.
Goldie
October 11th, 2012
12:32 pm
Joseph — no accountability whatsoever on the Cons’ part, once again… just blame the Dems for not cleaning up your mess fast enough and see how that turns out for you in November!
Kamchak ~ Thug from the Steppes
October 11th, 2012
12:32 pm
Data Massaging Continues: Initial Claims Tumble To 339K Lowest Since 2008, Far Below Lowest Expectation
Thrice repeated drudgey spam.
Kamchak ~ Thug from the Steppes
October 11th, 2012
12:34 pm
You don’t care that the WH fabricated some BS story…
The smoking gun is the mushroom cloud.
Joseph
October 11th, 2012
12:34 pm
New Flash:
Walmart has completely sold out of Depends as liberals fret tonight’s debate between Ryan and Biden.
Thulsa Doom
October 11th, 2012
12:35 pm
JamVet @ 12:31,
Nice retort. We’re getting good on the Carl Lewis analogies.
Joe Hussein Mama
October 11th, 2012
12:35 pm
Joseph — “Well I take you’ll be voting for Romney then?”
Why would I do that?
USinUK - not very ladylike (and former Girl Scout)
October 11th, 2012
12:36 pm
“They didn’t think the numbers were believable either judging by their comments.”
was Santelli having another meltdown???
Keep Up the Good Fight!
October 11th, 2012
12:36 pm
They didn’t think the numbers were believable either judging by their comments.
’cause we all know how spot on Doomy is with his assessments and characterizations of commentary by others.
That’s some evidence. 
USMC
October 11th, 2012
12:36 pm
“You’re WAY too busy licking Wall Street arses for such sentimentality…”–Jamvet
Yikes, Creative IMAGINATION you have there. Did you dream that up all on your own or is that what they fed you down at the Union Hall?
Jamvet’s POTTY MOUTH could use some Listerine!
Thulsa Doom
October 11th, 2012
12:36 pm
“The smoking gun is the mushroom cloud.”
The 4 millionth replay of kamspam.
Goldie
October 11th, 2012
12:37 pm
Meanwhile, the stock market has doubled in value since Our President moved into the White House — and that’s no thanks at all to the 1% crying that they don’t have enough $$$ these days… wahhhhhhh, cry Baby cry!
Paul
October 11th, 2012
12:37 pm
Joseph
“Yes its great news for American families that home values are at an all-time low and middle class income has fallen almost $5000 since Oblama has assumed office.””
Why and when did home values begin to plummet?
When did the values stabilize?
How much is the middle income household decline attributed to the decline in home values?
They BOTH suck
October 11th, 2012
12:38 pm
TD
Quit beating around the bush about the employment numbers. You want say you believe they are phony, but want to indicate it in a round about way.
Sounds like Scout and his “birther” articles
Michael
October 11th, 2012
12:38 pm
I would like to know why the GOP blocked the veterans jobs bill. Maybe Ryan can explain it to us tonight. After all, if we can afford so many more ships, there should be a few bucks for veterans’ jobs in there someplace.
Thulsa Doom
October 11th, 2012
12:39 pm
“cause we all know how spot on Doomy is with his assessments and characterizations of commentary by others. That’s some evidence.”- keepup
I was definitely spot on when I characterized your commentary as inane, inconsequential, and irrelevant.
Finn McCool (The System isn't Broken; It's Fixed)
October 11th, 2012
12:39 pm
hehehe
drinking game for tonight’s debate
http://media.salon.com/2012/10/veep_debate_game_card.pdf
Joseph
October 11th, 2012
12:39 pm
Joe Hussein Mama:
You admitted Obama has failed. Why not change to a new strategy?
USinUK - not very ladylike (and former Girl Scout)
October 11th, 2012
12:40 pm
” middle class income has fallen almost $5000 since Oblama has assumed office.”
would LOVE to hear their reaction if Obama actually signed an executive order to demand an increase in pay for all companies, large and small … something like 5% over CPI …
because THAT is the only way the President could have any impact on income.
Joseph
October 11th, 2012
12:40 pm
Paul:
Maybe you should get out more. They continue to plummet!
They BOTH suck
October 11th, 2012
12:40 pm
You don’t want to say
excuse me
getalife
October 11th, 2012
12:40 pm
A book about the behavior and actions of the gop and cons under President Obama would be a best seller and a movie that would make millions.
“Unhinged.” is a story that should be told.
Ahem
October 11th, 2012
12:41 pm
Bookman’s Headline: New jobless claims plummet, now below long-term average
FOLLOWED BY…
Bookman’s words:
“UPDATE: From CNN, another reason for caution:
Much of the drop last week was caused by an anomaly”
It seems to me that Jay Bookman’s headline should have been edited upon his UPDATE. I find it somewhat disingenuous to let that headline stand in the face of the facts as reported across MSM.
Why Jobless Claims May Not Be as Good as Market Thinks
…In other words, the drop of 30,000 last week had more to do with the lack of expected re-filings at the start of the fourth quarter than with any particular improvement in labor market conditions.
That also means that the decline which usually follows the spike won’t be as pronounced this time around, so the headline tally of jobless claims is likely to rebound next week.
All told, these two weeks’ worth of jobless claims will end up being more noise than signal. That may frustrate those who follow the series closely for clues into the health of the U.S. labor market. Coupled with last week’s payrolls report, it is also likely to fuel perception that labor market figures in general can’t be trusted.
The Labor Department appears to have had little choice in this matter, however; it couldn’t estimate what the one large state would or should have reported. Still, it may have been able to avoid more confusion had it more clearly articulated that in its weekly press release.
And now, there is one state’s labor department with plenty of explaining to do.
http://www.cnbc.com/id/49372827
TaxPayer
October 11th, 2012
12:41 pm
Wanna google all the jobs bills still sitting on Harry’s desk or would you prefer to just concede the issue?
I will gladly concede that even jobs bills that don’t create jobs cannot create jobs and have not created jobs by sitting unpassed in Congress.
ITS ALL BUSHS FAULT
October 11th, 2012
12:42 pm
Leave to the Commie Cons to find the gloom ….Losers….SUCK IT CONS….
USinUK - not very ladylike (and former Girl Scout)
October 11th, 2012
12:42 pm
“Maybe you should get out more. They continue to plummet!”
you say “plummet” – I say “realign to what they are REALLY worth”
http://www.ritholtz.com/blog/2011/04/case-shiller-100-year-chart-2011-update/
Thulsa Doom
October 11th, 2012
12:42 pm
they both suck,
Nope. I’m not going to say the Labor dept. fudged the numbers at the behest of the Chicago thug crowd. I just find the numbers to be highly suspicious given the timing and the steep decline in one month. Any truly objective and rational person would agree.I’m going to view it that the much more volatile household survey is simply inaccurate and that the unemployment number will be revised upward- ostensibly AFTER the election.
Paul
October 11th, 2012
12:43 pm
Joseph
That was weak, even for you.
___________________
getalife
“Think, people.”
Well, it was a good try.
Keep Up the Good Fight!
October 11th, 2012
12:44 pm
Doom: “I was definitely spot on when I characterized your commentary as inane, inconsequential, and irrelevant”
Sure thing Mr. Pompastic!
Going for the lead again on pomposity?
JamVet
October 11th, 2012
12:44 pm
Loganville boy, what are you mumbling about?
No matter how much you cut and run from the facts, your hero Willard, in the most depraved manner possible, blamed our embassy personnel for sympathizing with their attackers.
As long as you think it helps Mittens chances, you love it when Americans are killed.
Schmoe Biden and Lyin’ Ryan?
Who cares??
There is MUCH more important news.
Alvin Lee released a new record recently…
http://alvinlee.com/stillontheroad.htm
USMC
October 11th, 2012
12:44 pm
“A book about the behavior and actions of President Obama would be a best seller and a movie that would make millions.”–getalife
It already is:
https://www.youtube.com/watch?v=gRbqMGtvQD0
You’re a “Ball of Fire” there, getalife!
getalife
October 11th, 2012
12:44 pm
The gop job bills are just their ideology.
Our President’s jobs bill would work according to economists but gop refuse to pass it.
So the costs of quantitative easing belong to the gop.
Kamchak ~ Thug from the Steppes
October 11th, 2012
12:45 pm
Any truly objective and rational person would agree that I will win a Peabody award.
Joseph
October 11th, 2012
12:45 pm
USinUK – not very ladylike (and former Girl Scout):
I realize its hard for some to grasp the way we do things but if the economy was as strong as it was from 1982 to the first part of 2008 middle class income would be on the rise. A strong vibrant economy benefits everyone… Something the left simply don’t understand….
Sophie's Choice
October 11th, 2012
12:45 pm
Ah, cue the teatard conspiracy theorists’ heads exploding in 3..2..1…
getalife
October 11th, 2012
12:46 pm
USMC;
Shazam!
JamVet
October 11th, 2012
12:47 pm
mike would dance a Mormon jig if job numbers were plummeting.
He may anyway, because there is always hope…
Joe Hussein Mama
October 11th, 2012
12:47 pm
Joseph — “You admitted Obama has failed.”
Of course not. I admitted that you had a dogs**t sandwich that you want to share.
“Why not change to a new strategy?”
Why should anyone believe that Romney’s strategy (which he won’t even give specifics on) would be an improvement?
Changing to a new strategy might be a very good idea. That said, I’ve seen nothing to make me think that Romney’s even *got* a strategy, let alone a better one.
b-troll
October 11th, 2012
12:47 pm
“Corporate media is corporate media.
Not credible.” – getalife
Bookman works for corporate media.
Not credible.
USMC
October 11th, 2012
12:48 pm
“Shazam!”–getalife
You left off the “Sgt. Carter” part.
Ahem
October 11th, 2012
12:48 pm
The bottomline relative to any information released, accurate or BS, by this administration is that it doesn’t really matter. The “47%ers” are voting for Oblunda regardless the information. The “others” are voting for Willard Mitt Romney, regardless. The remaining potential voters are not going to be influenced by BS information released by either side. Oblunda now has a record and it matters!
They are going to make a selection based on what is going on inside the walls of their domain and I suspect most are suffering and scared and therefore will vote for change. Romney wins!
I think this is being borne out in the shift we are seeing in polling trends.
They BOTH suck
October 11th, 2012
12:48 pm
TD
Got you. If for some reason the numbers are revised up, you can come on with your “BOOMs” and “I won” (by the way did Bookman mail your prize from your last “victory”?).
If they are not revised up then you are not on record as saying as much……
I don’t believe it, but………….
DebbieDoRight - Prez. O = 2.5M Jobs; Repug Congress = 0. You do the Math
October 11th, 2012
12:48 pm
Jam @ 12:22 – You’ve got that right!
Thulsa Doom
October 11th, 2012
12:48 pm
Ahem,
Just when we were letting the liberals start to have fun and think the numbers were real you have to go and blow away this column with some facts. You ought to at least let us have some fun with them for awhile before slapping them down with the cold, hard truth.
Kamchak ~ Thug from the Steppes
October 11th, 2012
12:48 pm
Any truly objective and rational person would agree that I belong with Belen Rodriguez.
Joseph
October 11th, 2012
12:48 pm
Paul:
Stating facts is weak. How about show me proof home prices are on the rise…
Keep Up the Good Fight!
October 11th, 2012
12:48 pm
I’m not going to say the Labor dept. fudged the numbers at the behest of the Chicago thug crowd. I just find the numbers to be highly suspicious given the timing and the steep decline in one month. Any truly objective and rational person would agree. I’m going to view it that the much more volatile household survey is simply inaccurate and that the unemployment number will be revised upward- ostensibly AFTER the election.
Translation: I’m not saying anything…wink, wink, nudge, nudge. Know what I mean?
No evidence or facts needed when you go full WND.
ITS ALL BUSHS FAULT
October 11th, 2012
12:49 pm
The cons have tried every trick in the book to destroy the POTUS and damm the middle class and working people. When the clown the GOP has as a cannidate gets smacked down you cons will get what u deserve.
getalife
October 11th, 2012
12:49 pm
Paul.
Saw a story about a lady in Texas protesting building a pipeline from Canada’s oil on her land without her permission.
Did they approve this pipeline and not report it?
Jay
October 11th, 2012
12:50 pm
Joseph:
http://www.foxbusiness.com/news/2012/10/10/fed-beige-book-notes-widespread-improvement-in-housing-market/
bman
October 11th, 2012
12:50 pm
Loosen up your Obama hoodies….these numbers are incomplete. There’s no way around it.
TaxPayer
October 11th, 2012
12:52 pm
So many conned not doing better than they were four years ago. It makes me sad. Sad that they chose to believe in the Republican 2010 jobs campaign and sad that they are still sitting around waiting for those jobs. Meanwhile, back on planet earth, I’m still doing better than I was four years ago. (And yes Stevie Ray, I know you don’t care but I can’t help myself. I’m doing better than I was four years ago and I just have to let people know especially since the Republicans asked.) Even Mitt Romney is doing better than he was four years ago and I don’t even need his tax returns to figure that one out.
b-troll
October 11th, 2012
12:52 pm
TD 12:39 you left off insipid
b-troll
October 11th, 2012
12:53 pm
Joseph – the federal government is holding back foreclosure inventory to boost prices and sales
Joseph
October 11th, 2012
12:53 pm
Yet another Obama failure is upon us….
http://www.foxnews.com/politics/2012/10/11/another-bankrupt-solar-firm-facing-scrutiny-from-lawmakers-investigators/
USinUK - not very ladylike (and former Girl Scout)
October 11th, 2012
12:53 pm
“as strong as it was from 1982 to the first part of 2008″
yeah. other than the 1990-1991 recession, the 2001 recession and the 2007 recession, the economy was FAB (as long as you pay no attention to offshoring of jobs and the fact that most manufacturing companies expect people to work “part-time” at 38 hours a week so that they don’t have to pay pesky things like benefits)
Thulsa Doom
October 11th, 2012
12:54 pm
they both suck,
My opinion that the unemployment numbers will be revised upward is based on what several cnbc analysts said that morning in addition to other financial analysts. I’ll defer to their opinions seeing as how they generally are pretty fart smuckers. And if they and I are wrong then I’ll be very happy to be wrong. And if I’m right well then hell- what else is new?
What was my last “victory” that Jay was going to mail me a prize for anyhow? At this stage they’re like Saban’s victories- Too numerous too count.
getalife
October 11th, 2012
12:54 pm
joey,
How many are successful?
Mr T
October 11th, 2012
12:55 pm
Educate yourself fool.
http://www.forbes.com/sites/jennagoudreau/2012/10/11/the-10-worst-college-majors/
They BOTH suck
October 11th, 2012
12:55 pm
Joseph – the federal government is holding back foreclosure inventory to boost prices and sales
_______________
And we know that to be fact because Jm’s friend said so, right Jm?
Maybe I am wrong and Jm has a credible article with valid numbers to back up his “friend’s” assertion.
Ahem
October 11th, 2012
12:56 pm
@
Thulsa Doom
October 11th, 2012
12:48 pm
I guess I could apologize, but I wasn’t raised to offer hollow unwarranted apologies just to make someone else feel better. The truth is antiseptic. Be brave and fight on, I am off to earn taxes.
Paul
October 11th, 2012
12:56 pm
Joseph
“Stating facts is weak. How about show me proof home prices are on the rise…”
Jay provided the answe at 12:50
You know, after repeated requests for a cite to you claim Pres Obama said he would quit, Kamchak gave you a link showing you were wrong.
Then I asked you when home prices began to plummet and you avoided that, too.
Then you asked me for proof for something I did not say ( I said ’stabilize’ not “on the rise” , then Jay provided a source for what you asked.
You are consistent, I’ll grant you that.
But it’s not a consistency I would celebrate.
Granny Godzilla - Union Thugette
October 11th, 2012
12:56 pm
Wanna google all the jobs bills still sitting on Harry’s desk or would you prefer to just concede the issue?
You mean like this?
HR 3630 – The Middle Class Tax Relief & Job Creation Act of 2011 – This bill does indeed extend the “docfix” and unemployment insurance for a year, but with a hefty price.
In addition to freezing federal workers’ pay for three years, it requires issuance of a permit for the Keystone XL Pipeline in advance of the proposed routing by Nebraska, suspends the newly-issued mercury regulations and extends 100% expensing of business equipment (including private jets). Another so-called “jobs bill”, HR 1938, was passed giving a November 1, 2011 deadline for the Keystone pipeline.
With regard to unemployment insurance benefits, it cuts the 99-week maximum down to a 59-week maximum by mid-2012, allow states to drug-test UI recipients, and allow states to reduce state unemployment benefits and substitute federal funds. It also cuts funding for key provisions of the Affordable Care Act coming online, and adds the requirement to welfare payments that EBT cards cannot work in strip clubs, liquor stores and casinos.
Provisions were included to auction more broadband spectrum and reclassify the 700mhz D Block as public safety broadband use only, which would be a huge payoff to Verizon Wireless lobbyists, who won that block with requirements that it remain open, after Google challenged the auction process.
It would force Fannie Mae and Freddie Mac to pay increased guarantee fees similar in scope to those due from large banks as a part of the Dodd-Frank Act, means-tests unemployment insurance benefits and food stamp programs and increases Federal employees’ contributions to their retirement system by 1.5% while freezing pay, so their pensions take a double-whammy.
Finally, it repeals the new timing rules for estimated corporate tax payments for companies with assets of $1 billion or more so that they can use payments of estimated taxes as a timing tool for fourth quarter profit declarations.
None of the provisions outlined above create jobs. They called it a jobs act, but it was really just an act.
HR 1633 – Farm Dust Regulation Prevention Act of 2011
This bill prevents the EPA from issuing or finalizing regulations revising air quality standards under the Clean Air Act, and excepts farm dust from all references to “particulate matter.”
No jobs there, but if anyone has ever suffered from Valley Fever, they might object to exempting dust, particularly farm dust, from the definition of particulate matter.
HR 10 – Regulations from the Executive in Need of Scrutiny (REINS) Act of 2011
Guts the regulation process by mandating that every regulation promulgated by approved by Congress after an onerous submission process, while exempting any Congressional finding from judicial review. Call this one the Carte Blanche For Congress To Kill All Regulatory Authority Bill.
What it is not: A jobs bill.
HR 3010 – Regulatory Accountability Act of 2011
HR 3010 is a modified, somewhat less onerous version of HR 10, setting guidelines for whether any regulations are warranted at all even if called for under a statute. Calling an anti-regulatory statute a jobs bill is a little like calling a half-built bridge infrastructure. So again, not a jobs bill.
HR 527 – Regulatory Flexibility Improvements Act of 2011
Ostensibly, HR 527 would reduce regulatory requirements on small businesses by forcing an impact study with specific focus on small business before regulation is adopted. It would limit EPA, OSHA and CFPB regulations while presumably protecting “small” closely-held Subchapter S corporations like Koch Industries. Not a jobs bill.
HR 3012 – Fairness for High-Skilled Immigrants Act of 2011
HR 3012 would expand job immigration beyond current limits by eliminating employment-based immigrant visa caps and raising the percentage of total visas granted to 15% from 7%. For this one, I’ll say it IS a jobs bill, but not a jobs bill for American workers. It is the “Elite Immigration Jobs Bill of 2011″.
HR 3094 – Workforce Democracy and Fairness Act
HR 3094 redefines collective bargaining units and makes significant changes to election procedures, including one intended to intimidate employees: an employer-supplied list of eligible voters with contact information provided by the employee.
Not a jobs bill. A union-buster bill.
HR 2930 – Entrepreneur Access to Capital Act
HR 2930 exempts startups raising less than $1 million in venture capital from small investors from SEC registraiton and oversight.
Not a jobs bill. An anti-regulatory bill.
HR 2940 – Access to Capital for Job Creators Act
HR 2940 repeals prohibitions on solicitation or advertising of a securities offering. It’s a companion to HR 2930, and is intended to allow people with no relationship to a startup company to invest in it without any oversight by the SEC. Let’s call this and its evil twins HR 2930 and HR 1965 the “Ponzi Scheme Coverup Acts of 2011″
HR 1965 – Securities Laws Amendment
HR 1965 changes the shareholder threshhold for SEC registration from 500 to 2000 shareholders. It’s not a jobs bill. It’s a “hide from the SEC” bill. Its companion, HR 1970, would exempt SEC registration of public offerings under $50 million rather than the current $5 million threshold.
Many More EPA Acts
So many they don’t deserve to be broken down individually. HR 2273 removes coal ash regulation from the EPA and hands it to the states. HR 2681 would put a legislative stay on cement manufacturing emission standards. HR 2250 would put a legislative stay on EPA boiler MACT rules. HR 2401 would require analysis of all EPA regulations relating to air, waste, water and climate change. HR 2018 would restrict EPA from issuing any revisions to existing water standards or issuing a new standard for a pollutant if the state has already adopted one or there is an existing standard in place. In other words, ignore any new scientific research after an initial standard has been set. HR 2021 amends the Clean Air Act to open oil and gas exploration off the Alaska coast. HR 910 strips the EPA of authority to regulate greenhouse gases under the Clean Air Act, a direct assault on efforts to limit man-made contributions to climate change. HR 872 expands the use of pesticides, fungicides and rodent without EPA approval.
Many More Oil and Gas Drilling Acts
There is HR 1231, which would require the Administration to allow offshore oil and gas drilling and exploration in order to meet set domestic production goals, effectively forcing the moratorium on offshore drilling to be lifted to meet goals. HR 1229 requires the Energy Secretary to consider any offshore drilling permits within 30 days of receiving it and provide application denials in writing within 60 days of the application. Another “forced moratorium lift” bill. HR 1230 forces sales of oil leases in the Gulf of Mexico and Outer Continental Shelf of Virginia. It also lifts requirements for environmental impact statements and grandfathers in a 2007 document as authority for environmental impact.
Special Interest Legislation, or Pandering to Corporate Interests
HR 1904 proposes an exchange of land so that Resolution Copper, LLC can mine copper on what is now part of the Tonto National Forest.
HJ Res 37 is a resolution of disapproval on net neutrality.
HR 2587 prohibits the NLRB from restricting where an employer can locate. This is in response to the NLRB’s objection to the Boeing plant relocation to South Carolina, a right-to-work state.
These would fall under the anti-labor, anti-environment categories, but not particularly effective job creators. In fact, in Boeing’s case, the jobs lost would hurt the economy more than jobs created in a right-to-work state where employers are not obligated to adhere to industry standards on contracts, safety or other issues.
~ H/T to Crooks and Liars
Thulsa Doom
October 11th, 2012
12:56 pm
“Translation: I’m not saying anything…wink, wink, nudge, nudge. Know what I mean?”
Translation FAIL.
They BOTH suck
October 11th, 2012
12:58 pm
TD
It was last week when JHM and yourself were writing novels about the other writing novels.
He said something or called you a name and based on that you said he “lost”. Based on that, I could only assume you won, so I instructed Bookman to mail you your prize: 2 White Water tickets, a set of Kinsu knifes or a signed picture of Bookman himself.
getalife
October 11th, 2012
12:58 pm
“Translation FAIL”
Of course, you are a con.
TaxPayer
October 11th, 2012
12:59 pm
The trendline since Obama took office looks a whole lot better than it did during Bush’s overall time in office and that spans a little more than a week. Oh Noes! Does that mean that Bush fudged the numbers to deliberately make himself look like such a loser.
Paul
October 11th, 2012
12:59 pm
getalife
My understanding is they’re going ahead with the build in the noncontested area up north.
We’ve also a case here where a family’s farm is going to be seized for a railroad switching yard. Texas law grants eminent domain authority to railroads. Just another reason I don’t think everything should be left to the states.
Granny Godzilla - Union Thugette
October 11th, 2012
12:59 pm
This should have been included in my post above
“To make sure they back up their public claims with what might appear to be “fact”, they’ve built a page on the House of Representatives site with a list of their so-called jobs bills, which number 27 and not 30 as the Speaker claims. What follows is a list and a brief explanation of why they are not jobs bills. Feel free to share it widely with your friends who might be inclined to believe Mr. Tobacco Lobbyist Check Distributor without questioning it.”
USinUK - not very ladylike (and former Girl Scout)
October 11th, 2012
1:00 pm
“Joseph – the federal government is holding back foreclosure inventory to boost prices and sales”
oh, FFS … BANKS are holding off on bankruptcies because they don’t want to dump all the property on the market at the same time.
I mean, fercryingoutloud.
Paul
October 11th, 2012
1:00 pm
getalife
Let me reword that “My understanding is they’re going ahead with the build in places other than the noncontested area up north.”
Kamchak ~ Thug from the Steppes
October 11th, 2012
1:00 pm
Any truly objective and rational person would agree that going to the gym to stare at yourself in the mirror clad in speedos and a wife beater is the bomb and a good way to pick up hawt chicks.
Joseph
October 11th, 2012
1:00 pm
Jay:
Maybe you should get out more….
http://www.npr.org/series/130729880/crisis-in-the-housing-market
DebbieDoRight - Prez. O = 2.5M Jobs; Repug Congress = 0. You do the Math
October 11th, 2012
1:01 pm
Joseph: Yes its great news for American families that home values are at an all-time low and middle class income has fallen almost $5000 since Oblama has assumed office.
WOW. Now its OBAMA’s fault that the housing market crashed and people are under water? Not FAnnie and Freddie like you’ve guys been saying form day 1 but OBAMA?
Does anyone know if there’s a cure for ODS? Like can they take some anal steroids or something?
Thulsa Doom
October 11th, 2012
1:01 pm
Kamchak ~ Thug from the Steppes
October 11th, 2012
12:45 pm
Any truly objective and rational person would agree that I will win a Peabody award.
Kamchak hereby wins the newly christened Peabody award for spam. And his victory for the spam award was unanimous.
They BOTH suck
October 11th, 2012
1:01 pm
Jm
Gives us the details on these held back foreclosures.
Is it being done by the mortgage company of record or the federal government themselves?
Stevie Ray..Clowns to the left and Jokers to the right..here I am...
October 11th, 2012
1:02 pm
JAY,
Any of you LIBERALS have any brilliant retorts to this little nugget?
House Democrats opened Wednesday’s House Committee on Oversight and Government Reform hearing by attacking Republicans for cuts to embassy security funding — cuts that only happened thanks to overwhelming support from House Democrats, including House Oversight Committee Ranking Democratic member Rep. Elijah Cummings. In fact, more House Democrats – 149 of them — voted for the cuts than did House Republicans, of which 147 voted for them.
Don't Forget
October 11th, 2012
1:02 pm
TD – Somehow or another the liberals forgot that the more reliable number of only 104,000 private sector jobs is far more relevant.
Huh? More reliable? Lets see, the August and July reports were revised upward by 50k from a similar number. So you think a 50% error is “reliable” ???
Here’s some more FYI.
It does appear that the BLS is getting better at estimating. The average report in the 1980s was off by 72,150 jobs, while the average report in the 2000s was off by 48,060.
But estimation suffers a lot during downturns. The average error during a downturn is 89,321, and usually the initial estimate of jobs lost is too low. During the recent financial crisis, for instance, the initial BLS estimates each month underestimated job losses by, on average, 50,000 per month. All told, the initial monthly reports underestimated job losses by 950,000.
Let me repeat that — almost a million job losses were not counted in those initial reports. That, arguably, was a major reason why fiscal and monetary stimulus failed to get us back to our level of employment. The Obama administration and the Federal Reserve just didn’t know the full extent of the jobs crisis in 2009.
But the silver lining is that, since the downturn ended, the economy has been gaining jobs faster than the initial monthly reports suggest. Since June 2009 — when the recession officially ended — revisions have, on average, added about 30,000 jobs to the initial estimate. That adds up to 1.1 million more jobs than the reports initially counted.
The figures get one final look-through, called a “benchmark revision.”* The revision for 2011 found an even bigger discrepancy. That report concluded that we gained 386,000 more jobs between April 2011 and March 2012 than previously estimated, whereas the monthly revisions found a gain of only 340,000 additional jobs. So if September’s jobs report fits the pattern, it’s likely to get revised up — just as August and July did before it.
http://www.washingtonpost.com/blogs/ezra-klein/wp/2012/10/08/september-jobs-report-said-the-economy-gained-114000-jobs-heres-why-thats-probably-too-low/
Paul
October 11th, 2012
1:02 pm
USinUK
“Banks” “Federal government”
Picky, picky, picky.
We’re not running this campaign based on fact checkers, remember?
Get with the program, woman!!!!
Kamchak ~ Thug from the Steppes
October 11th, 2012
1:03 pm
Does anyone know if there’s a cure for ODS?
Quit — cold turkey — going to sites like drudgey and the stew.
Thulsa Doom
October 11th, 2012
1:04 pm
b-troll,
Insipid? Very befitting.
getalife
October 11th, 2012
1:04 pm
“My understanding is they’re going ahead with the build in the noncontested area up north.”
The pipeline in Texas was for TransCanada tarzan. They used eminent domain on this one too.
Joseph
October 11th, 2012
1:04 pm
Paul:
And I provided a link to the contrary… Its simple math really. I had my house appraised back in July. I built it in 2007. Comparing the two is a drop of 21%… That’s even after adding a pool in 2010….
Paul
October 11th, 2012
1:06 pm
Joseph
You started out with “Yes its great news for American families that home values are at an all-time low and middle class income has fallen almost $5000 since Oblama has assumed office.””
then moved the goalposts to foreclosures. Even then you linked to an NPR article that began by stating overall, foreclosures are down.
No goalposts are safe when you’re around.
But facts need not worry.