Jobless Claims in U.S. Over Past Month Lowest in 15 Years

[steve2470]

http://www.bloomberg.com/news/articles/2015-04-09/jobless-claims-in-u-s-over-past-month-lowest-in-almost-15-years

Fewer Americans applied for unemployment benefits over the past four weeks than at any time in almost 15 years, signaling underlying strength in the labor market even as hiring cooled last month.

From mid-March through the seven days ended April 4, jobless claims averaged 282,250 a week, the lowest since June 2000, a Labor Department report showed Thursday in Washington. Applications over the latest week climbed by 14,000 to 281,000. The median forecast of 45 economists surveyed by Bloomberg called for 283,000.

The level of dismissals is consistent with an improving labor market and indicates companies are optimistic demand will strengthen after a weaker first quarter. Figures earlier this week showing job openings at a 14-year high point to a pickup in the pace of hiring after a March slowdown.

Applications stabilizing at this level are “evidence of a healthy labor market,” said Russell Price, a senior economist at Ameriprise Financial Inc. in Detroit, whose projection for 280,000 claims for the latest week was among the closest in the Bloomberg survey. “I don’t really see us going much lower than where we are now.”

[GummyBearz]

1. Walmart is hiring more and more

Either that or people gave up on looking for a job, which according to the government means they are no longer counted as unemployed. Either way, 3 cheers for the great news. Lets go buy hummers, its 2006 all over again!

[whatthehey]

3. How much disinformation can you get?

Initial claims have NOTHING to do with giving up looking, as they are an indication of exactly what the words sound like - claims for benefits at the START of unemployment.

And readily available data show a slow but steady increase in median hourly rate ($24-25) and hours worked, so clearly all new jobs are not minimum wage part time gigs.

Finally what should you call someone who hasn't got off their ass to look for a job once in a whole year? That's not an unemployed member of the workforce any more than Ann Romney is. It's someone who doesn't want to be in the workforce and counting them as unemployed makes as much sense as counting a 85 yr old multimillionaire as unemployed, because they aren't looking either.

You almost hit the perfect full house. The only bullshit doomer lie about UE you didn't manage to cram in was the one about not counting if your benefits have expired.

[GummyBearz]

4. Right...

Tell that to my wife who has a masters and has been searching 2 years for a job in a metropolitan area. Wages are increasing? Holy hell, the CEO's 300:1 pay ratio is really great for statistics I guess. And yes people are looking for jobs more than once a year and cant find them... so get your head out of the sand and wake up to reality. This economy sucks for anyone in the middle class and below. I know I didn't hit the full house on posting some truth, but you sure did on posting a bunch of crap.

Now that things are so great, go take a HELOC on your house to buy a humvee and a 1 month vacation, its as good as the bush years in 2006! woohoo!

Meanwhile I will try to keep my head above water in this miserable walmart dominated economy.

[underpants]

2. See! That damned Obamacare will ruin everything