Jobless Claims Drop Markedly

[ProSense]

Jobless Claims Drop Markedly

The past week saw a huge fall in the number of persons making an initial filing for jobless claims. The U.S. Department of Labor reported:

In the week ending Feb. 6, the advance figure for seasonally adjusted initial claims was 440,000, a decrease of 43,000 from the previous week’s revised figure of 483,000. The 4-week moving average was 468,500, a decrease of 1,000 from the previous week’s revised average of 469,500.

While this is certainly good news, given the erratic weather over the past week, we would be best served to wait until next week to see if administrative snafus had anything to do with the drop. The unadjusted number of people still on the unemployment roles is 5.6 million. To that is added an additional 5.4 million on extended benefits, meaning a near record 11.1 million people are receiving some sort of unemployment insurance benefits.

Overall then, the labor market in the U.S. remains weak. Moreover, I expect February’s unemployment rate to increase from the seasonal adjustment-marred 9.7% rate we saw last week. Nevertheless, I still anticipate a positive non-farm payroll number by the end of Q1 2010. And while that is a long way off from the 150,000 jobs per month we need to reduce the unemployment rate, it is better than losing 500,000+ jobs per month as we did through most of 2009.

[MadBadger]

1. DU Doenst like jobs.

Thats why people unrecc

[babylonsister]

2. Now why would someone want to unrec this? WTF? nt

[ProSense]

5. Because

good news is tabu.

[paulk]

12. good news?

"Moreover, I expect February’s unemployment rate to increase from the seasonal adjustment-marred 9.7% rate we saw last week."

[Imajika]

6. Wow..

...you have an amazing number of hearts!

That is just...well...impressive.

[DCBob]

11. Seems many on this board want this nation to collapse in some perverse twisted dream...

that what emerges from the ashes will be some sort of liberal utopia.

[Gman2]

16. NOPE, the unrecker might be angry at all those that say it's peachy

and the reality is, that many are now falling off the rolls in stages, to include all of us long term unemployed. Then, you have MASS STARVATION.

[hansont]

18. +1, I also unrec repetitive spamming of the boards by a few individuals

there are some people who are here mostly to post "talking points" and clutter up the boards with repeated and constant posting. Probably others have gotten tired of it as well and are unrecing. No "conspiracy" going on.

I have been here for a while, but I mostly like to *read* and get caught up on what is going on. This board has been great for getting hidden stories. For those of us who aren't into competing for the greatest page it is a bit irritating, so sometimes I will unrec the ones who spam constantly.

This story has been on the board many times, once before by this poster as well. So I unrec'd this one.

[Imajika]

17. I think there is something to what you say...

I think some believe that out of the ashes of a total free market/capitalist collapse will come some sort of progressive/socialist wonderland.

What they don't seem to realize is that it is just as likely, perhaps more likely, that something far more right wing would emerge instead. Every time I see these "time for a revolution" threads I wonder why it is these people think it would be a left of center revolt. Do they not realize that something on the order of 40% of the country already identifies themselves as conservative? Do they not see that tolerant positions like same sex marriage rights are time and time again rejected by the people when put to an actual vote? It is like pulling teeth moving the American electorate to the left, why on earth do these "revolution now" people think the result of some massive upheaval would be a left wing government? When times are tough, people seem to gravitate back to traditional, religiously based positions, not progressive ones.

[DCBob]

21. No doubt people tend to revert back to traditional, conservative, religious values in a crisis...

I hope it does not come to that but it sure might and its already seems to be happening to some extent.

[RoyGBiv]

3. A kick, a rec, and a heart ...

There. I'm spent.

[ProSense]

4. Thanks.

:)

[Clio the Leo]

7. i love the snow excuse.

cause if it snows in dc the entire nation is covered right?

[RoyGBiv]

8. You didn't get the memo?

The snow storm canceled global climate change, convinced everyone John Maynard Keynes was an idiot, caused Sarah Palin's IQ to jump 50 points (meaning she is still a dullard), and, of course, reduced jobless claims throughout the entire nation.

Oh, and it also gave Chris Matthews another hour on his forgetting Obama is black time. Snow is white, ya know.

[AllentownJake]

15. It snowed in more places than DC

Virginia, MD, PA, NY, NJ.

It isn't DC they are talking about, they are talking about the Mid-Atlantic States reporting into D.C.

Those workers got some days off too and were told to stay off the roads.

[AllentownJake]

14. Reporting

It wasn't just DC that was hit with a snow storm. If they have to revise the number by 30,000 because Maryland, Virginia, PA, and other mid-Atlantic states didn't have all their data right due to there offices being closed a few days as well, they don't want to be stuck with a giant revision in a week without an explanation.

This report is controlled by the administration, they have no incentive to put a qualifier unless a qualifier might be necessary.

[babylonsister]

9. REC'D! nt

[TexasObserver]

10. Recommend

[AllentownJake]

13. Yep that is accurate

We are at the bottom, now begins the rough road out of the hole and pray nothing happens to start the hole from being dug again.

[Peacetrain]

19. K&R!!!!

[Yavin4]

20. There Does Come A Point Where Business Can No Longer Lay Off People and Still Function

Someone has to answer the phones.