Jobless Claims in U.S. Unexpectedly Fall to Five-Year Low

[Hissyspit]

Source: Bloomberg

Jobless Claims in U.S. Unexpectedly Fall to Five-Year Low

By Alex Kowalski

May 09, 2013 8:30 AM EDT

The number of Americans filing claims for jobless benefits unexpectedly dropped last week to the lowest level in more than five years, a signal employers are confident enough in the economic outlook to hold onto workers.

Applications for unemployment insurance payments decreased by 4,000 to 323,000 in the week ended May 4, the least since January 2008, Labor Department figures showed today. Economists forecast 335,000 claims, according to the median estimate in a Bloomberg survey. The average over the past month was the lowest since before the last recession began.

Read more: http://www.bloomberg.com/news/2013-05-09/jobless-claims-in-u-s-unexpectedly-decrease-to-five-year-low.html

[Half-Century Man]

1. Wrong...

..Basing the estimated number of people unable to find work on how many get unemployment insurance that week, is like basing the number of times sex happened due to condom sales figures. While they do have some common ground, they are, only casually related.

[JoePhilly]

2. Whatever makes the right wing crazies scream in apoplectic rage works for me.

[pinqy]

4. What on earth are you talking about?

The US has never ever based it's unemployment level or rate on those eligible for or recieving Unemployment Insurance.

And the point of the article, talking about Initial Claims, not continuing, is that fewer layoffs is a sign of improved economic conditions.

Total unemployment is unrelated.

[Half-Century Man]

6. Okay.

I was going on what I was told years ago in a UAW meeting. That the unemployment measurement was based, for a major part, on weekly roles of those receiving UI.

[zerosumgame0005]

9. except that is not what this is about

It is about new applications being filed, which means normally more people being retained at the jobs they have. Not 100% of them but hopefully a good portion of them.

[Liberal_in_LA]

12. good news

[zerosumgame0005]

13. just not as bad as it could have been

[GetTheRightVote]

11. I have to agree with you..

this is a very misleading guideline. They are keeping us in the dark about how really bad the unemployment rates are, in fact this is a quote from Senator Bernie Sanders:

"The unemployment rate for 16- to 24-year old workers was 16.2 percent in April. That’s more than double the national rate of unemployment. For teenagers, the overall unemployment rate is 25.1 percent. For black teens the number is a distressing 43.1 percent. The United States has surpassed much of Europe in the percentage of young adults without jobs, according to The New York Times. What has Congress done? It cut $1 billion from youth jobs programs over the past decade. Bernie is working on legislation to change that."

So unemployment is still a great problem in the great US of A.

[Blandocyte]

3. Labor Force Participation rate is what hate radio

focuses on when this sort of news comes out. I don't really follow economic news, so I just grab the popcorn while more economics-savvy people shout each other down.

[krispos42]

5. I just filed my very first unemployment claim.

Yay.

[Jimbo S]

7. Dislike

[zerosumgame0005]

8. But But But

BENGHAZI!!!!!!

[DCBob]

10. +1

lol.

[quadrature]

14. legions of the long-term-unemployed are Thrilled! .nt

nt