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
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551 comments Add your comment
stands for decibels
October 11th, 2012
2:40 pm
Why do you so adore these white collar criminals?
I wonder what could possibly color their judgement?
Goldie
October 11th, 2012
2:40 pm
Yes, America is doing much better than 4 years ago.
4 more for 44!
I'm a liberal and believe everything I read and nothing the other side comes up with...cause we're smart and they are not
October 11th, 2012
2:41 pm
We know that.
Kamchak ~ Thug from the Steppes
October 11th, 2012
2:41 pm
…the wedding ring on Obama…
Ringers.
Logical Dude
October 11th, 2012
2:43 pm
I’m a liberal:
http://www.snopes.com/politics/obama/weddingring.asp
Redneck Convert (R--and proud of it)
October 11th, 2012
2:44 pm
None of the provisions outlined above create jobs. They called it a jobs act, but it was really just an act.
Well, like Ernest T. Bass told Andy after being arrested for throwing a object thru a car’s back window, “You never said nothin’ ’bout no bricks.”
stands for decibels
October 11th, 2012
2:44 pm
Ringers?
Weren’t they flag-pinners last time around? What is this obsession with jewelry?
I'm a liberal and believe everything I read and nothing the other side comes up with...cause we're smart and they are not
October 11th, 2012
2:45 pm
Snopes is a liberal rag….need something better.
I'm a liberal and believe everything I read and nothing the other side comes up with...cause we're smart and they are not
October 11th, 2012
2:46 pm
Has Michelle ever been to a Muslim country with him. Smart dudes on here. Which trip?
kayaker 71
October 11th, 2012
2:46 pm
Observation, 2:39,
GM is not saved yet. Far from it. And with bad business decisions like the Volt, it should be a long time before it is solvent. The common stock has to double in price before they can pay off their debt to the American taxpayer. GM was “saved” at a price. All of the 401Ks of non union members went up in smoke when the unions took over. The enemy was shown the door. Not to mention all of the bond loss connected to “saving” the company. We have a long way to go before we are paid back, if ever. Hell, Bozo would take credit for the second coming if it wasn’t against his Muslim faith.
They BOTH suck
October 11th, 2012
2:47 pm
I’m a liberal
Who cares?
getalife
October 11th, 2012
2:47 pm
They are out of poo to sling.
So they look at the wedding ring.
stands for decibels
October 11th, 2012
2:47 pm
HEADLINE:
Squiggly Lines on Obama’s Ring Actually Street Map of Chappaquiddick.
Developing…
YouLibs
October 11th, 2012
2:47 pm
I’m a lib
Another swing and a miss.
I'm a liberal and believe everything I read and nothing the other side comes up with...cause we're smart and they are not
October 11th, 2012
2:48 pm
Bought my first Ford in 2010. F150. Nice truck.
southpaw
October 11th, 2012
2:48 pm
southpaw — “Well said. Can’t argue with the legality, but is tax avoidance also the right thing to do?”
Our cons seem to maintain that it is
—————————————————
So I’ve noticed. I, as a conservative, would tend to maintain that as well. Now what’s your take? Should Solyndra, Romney, et al., participate in tax avoidance? My memory of your discussions may be faulty, but I believe you suggested that they shouldn’t.
East Lake Ira
October 11th, 2012
2:49 pm
http://urbanlegends.about.com/library/bl-obama-wedding-ring.htm
You cons lie with as much ease as Mitt.
Well done!!
getalife
October 11th, 2012
2:49 pm
kay,
Our President saved the auto industry and one million jobs.
This is great for our country.
What are you doing attacking it?
I'm a liberal and believe everything I read and nothing the other side comes up with...cause we're smart and they are not
October 11th, 2012
2:49 pm
Thank you “BOTH”…… We know this neighborhood doesn’t. Lot’s of us do
Regnad Kcin
October 11th, 2012
2:51 pm
Ring? Amazingly stupid!
Did you read the article? Stupid is as stupid does…
Mick
October 11th, 2012
2:51 pm
yaker
I guess those old foggies with their whips and buggies just demeaned and cursed those new fangled automobiles right? The volt was in planning and production phase long before obama, but it suits you well to blame everything in your world on obama…look the sky is falling, must be obama’s doing…
I'm a liberal and believe everything I read and nothing the other side comes up with...cause we're smart and they are not
October 11th, 2012
2:51 pm
Thanks East Lake….I’ll just move on that he sux as President….
They BOTH suck
October 11th, 2012
2:52 pm
“Lot’s of us do”
Who is “us”?
getalife
October 11th, 2012
2:52 pm
You cons need to self reflect and ask yourself what are you doing.
I'm a liberal and believe everything I read and nothing the other side comes up with...cause we're smart and they are not
October 11th, 2012
2:53 pm
I love this site. Like throwing feed in a pond and watching them chum water. Boy y’all love this guy. And He’s horrible..LOL
Paul
October 11th, 2012
2:53 pm
Steve USA
I live in Texas, just north of the Dallas-Ft Worth metroplex. Texas weathered the downturn really well. Recalled a couple of news articles why – seems some consumer-protection laws and mortgage laws were put in place before and during… Gov George Bush’s administration.
Just one of the many mysteries about that guy -
JamVet
October 11th, 2012
2:54 pm
stands, LOL…
These modern Republicans absolutely disgust me. Granted, Nixon and Agnew were creepy little scumbags, but compared to this crop? They were worthy of being on Mt. Rushmore!
Mitt “Sudden reversal” Romney is merely the latest nasty icing on their putrid cake.
They will sell anybody (well 99% of anybody) down the river. Ambassadors, CIA operatives, you name it.
They swiftboat and denigrate combat veterans. Even wounded ones.
They accuse our embassy people of sympathizing with their attackers.
They adore the banksters who stole money from them and their families!!!
After considering this for a long time, I only have one plausible explanation. They hate non- Republicans – including all foreigners – more than they love this country.
And in their demented post 11th Commandment world, they never find any significant fault with any Republican. (Thanks to that deranged Ronald Reagan.) To wit, they STILL think GWB was a fine president!!
But the most damning of all evidence is this question. When is the last time you saw one of them here say how much they love America, her people, our system of laws or our government?
The answer is self-evident…
Joe Hussein Mama
October 11th, 2012
2:54 pm
K71 — “GM was “saved” at a price. All of the 401Ks of non union members went up in smoke when the unions took over. The enemy was shown the door. Not to mention all of the bond loss connected to “saving” the company.”
Oh, I get it.
K71 must have been holding GM corporate paper and took a haircut on his investment when we bailed them out. No wonder he’s upset; he got shut out of the upside.
I'm a liberal and believe everything I read and nothing the other side comes up with...cause we're smart and they are not
October 11th, 2012
2:54 pm
BOTH……….Us is the America first crowd….Warts and all.
Paul
October 11th, 2012
2:56 pm
Hey Mick
Still making it out here in a couple of weeks?
I'm a liberal and believe everything I read and nothing the other side comes up with...cause we're smart and they are not
October 11th, 2012
2:57 pm
Most GM Bond investors can live with the ups and down of a fickle market. What they didn’t see was Chavez type Government take over of the auto industry
JamVet
October 11th, 2012
2:57 pm
Have any of you fascists ever bought a Chrysler?
You can thank James Earl Carter and Lee Iococca…
Mick
October 11th, 2012
2:58 pm
I’m a liberal
I love this site too because all these conned wankers come here thinking they can disguise their hate as opposed to just say policy, but somehow their strong zeal reveals the true inner core of racist flavorings. Deal with it…
I'm a liberal and believe everything I read and nothing the other side comes up with...cause we're smart and they are not
October 11th, 2012
3:00 pm
Doesn’t take much to get race card played here. You disagree with this President…..YOU MUST BE A__________
getalife
October 11th, 2012
3:00 pm
Debate sheets.
Jay
October 11th, 2012
3:00 pm
veep sheets
Mick
October 11th, 2012
3:00 pm
paul
It’s still fluid at the moment, I’ll have a better picture by the end of the weekend. How’s the weather, cooling down any?
stands for decibels
October 11th, 2012
3:02 pm
Granted, Nixon and Agnew were creepy little scumbags, but compared to this crop?
let’s not get too carried away.
On my “horrible Presidents in living memory” scale I still have to put Nixon uber alles, mostly because of the scale of horrors his mendacity produced. (yes, I realize a Humphrey administration *might* have gone ahead and pointlessly slaughtered just as many humans in SE Asia, but I have a hard time assuming so.)
When is the last time you saw one of them here say how much they love America, her people, our system of laws or our government?
Dunno–when was the last time their focus groups told them it might be a good idea to do so?
stands for decibels
October 11th, 2012
3:02 pm
aw sheet, dead threaded.
I'm a liberal and believe everything I read and nothing the other side comes up with...cause we're smart and they are not
October 11th, 2012
3:03 pm
Maybe Paul comes out in a klan robe to humor Biden tonight?
Mick
October 11th, 2012
3:03 pm
I’m a lib
Usually, where there is smoke, there is fire or if it quacks like a duck and walks like a duck, it usually is. Only you can lnow your inner conscience but the tone of you putdowns kinda leads one to suggest that maybe you are …
I'm a liberal and believe everything I read and nothing the other side comes up with...cause we're smart and they are not
October 11th, 2012
3:06 pm
Mick…I’m not. sorry. I do like this Presidents policies……and his skin color has ZERO to do with it. I like Allen West…….But we know how YOU feel about a man of color not in YOUR camp
I'm a liberal and believe everything I read and nothing the other side comes up with...cause we're smart and they are not
October 11th, 2012
3:07 pm
gads…DO NOT LIKE
Joseph
October 11th, 2012
4:06 pm
Paul:
Allow me to recap:
Home values began their crash during the last administration.
They stabilized during this administration.
False! They went down even further during the Obama administration.
Foreclosure rates have stabilized overall, yet some areas are experiencing ongoing difficulties.
I agree with that but as a whole home values have plummeted during the Obama regime.
One person’s home value may be in an area of continued difficulty but may not be representative of the nation as a whole.
I don’t agree with that. Just using an example…
Joseph
October 11th, 2012
4:11 pm
Joe Hussein Mama:
Joseph — “They have no where to go but up after Obama has forced them to hit rock bottom… :”
If an asset’s price isn’t zero, then it hasn’t hit rock bottom.
So let me get this straight. If you bought a house for $100,000 and now its worth $80,000 that’s a net of -$20,000. To me that’s hit rock bottom and then some… But I’ll try to understand the liberal logic a little better…
If you trade (equities, commodities, bonds or fixed assets), trying to call the bottom is as ill-advised as trying to call the top is.
Vast Right Wing Conspiracy (aka "Knuckle-Dragger")
October 11th, 2012
4:31 pm
Also, California did not report in this data. Might change the numbers, you think?
Joe Hussein Mama
October 11th, 2012
4:37 pm
Joseph — “So let me get this straight. If you bought a house for $100,000 and now its worth $80,000 that’s a net of -$20,000. To me that’s hit rock bottom and then some…”
How much stock/bond/asset trading have you done in your life? Not much, if that’s your answer.
You can lose ALL of your investment on a bad trade, and THAT would be rock bottom. You’re telling me that a 20% loss is rock bottom to you? I know people who lost over 40% in their equities accounts in Q42008. Your 20% loss would look GOOD to them.
“But I’ll try to understand the liberal logic a little better…”
I’m talking business, not politics. You’re clearly as bad at one as you are at the other.
GT
October 11th, 2012
4:45 pm
Living in the moment use to be a good thing, but ignoring the future is a product of the intellectually challenged Republicans who will buy a vote today and pay for it a generation from now.
When you have balanced this budget, which your math will never get you there, by austerity and we are totally dependent on foreign oil, and domestic monopolies, exactly why did we go on this radical diet in the first place? At the end of the day you have clean yourself up for your enemies to pick you clean. It is like the millions of Americans who did exactly what they were told they were suppose to do, save, have a retirement program, pay down the mortgage, exercise and eat right. Now they are broke because of too big to fail investments that failed on Wall Street, and living 20 years longer broker than the generation before them. There is no capital for growth; it is all in the pockets of the Wall Street bonus babies, in the 90,000 sq foot houses, and toys, they fleeced us and now live large over seas not even paying taxes to the country they destroyed. And somehow get away with blaming it on Obama who wasn’t even in office when it happened.
When you don’t have health care or you have no transportation, all the entitlement of living right is out the window. It is so superficial to believe your short slightness will be rewarded and even more to believe that the rich fat cat won’t eventually pay for his hording and now thinking of anyone but himself, and certainly not producing. Yet when O tries with the courage most of us don’t have, especially this flip flop freak called Romney, the spoiled brats in the GOP act like teenage kids. We have lost our houses, now we lose our cars, because we can’t afford to run them, and we lose our heath we work so hard to take care of because we can’t afford doctors. But today before all this happens just like when Bush was in office and could have prevented the Wall Street smelt down, prevention is thought of as stupid by stupid people about to run this country.
Billybob
October 11th, 2012
7:16 pm
jay,
with your article you have incited the utterly clueless libs to spout what amounts to complete nonsense today……your legion seems to be dwindling as well which mirrors how the independents and reagan democrats are viewing this election……….pravda would be so proud……doesn’t take a rocket scientist to foresee this last ditch effort……….can’t wait to see what is next…..maybe student loans forgiven, amnesty for all illegal individuals in this country…..
Z
October 11th, 2012
8:10 pm
All the Republican politicians and followers have done for the last almost 4 years is complain about how much a failure President Obama policies were. I thought they were wacky then, now I know they were just plain Nuts. Proof is in the pudding, 3 years ago you found no job offerings in our local small town Newspaper, today you can find over 30 job offerings and not just low paying jobs. Things are looking up. Thank you President Obama for having the courage and fortitude to deal with the horrendous economy you were left with. And all done, in spite of this most destructive, morally corrupt Republican Controlled Congress in history!
Carmen
October 12th, 2012
8:05 pm
Points that are all too often overlooked …
1) Sure, the trend is downward. After a huge number of layoffs in previous years it simply becomes more difficult to lay off large numbers of workers without completely closing shop. The area under the curve is what’s more critical. Even with decreasing numbers of claims, simply integrate the area under the curve of the last 4 years with any previous 4 and you’ll soon see my point.
2) Why is no one normalizing the data? If you recall, the workforce has been on a steady decline, and as it declines the same number (and even slightly lower number) of claims becomes a greater percentage of said workforce. What we see as a nice drop to 370,000 or 360,000 compares much more to 400,000 from before the recession.
These two points are completely non-partisan, yet never much (if ever) mentioned.