Weekly Jobless Claims Fall Below 400,000!!!!

[Clio the Leo]

THANK YOU LORD FOR THE SNOW!!!!! lol :bounce:

Jobless Claims Hit Lowest Level Since July 2008

By TOM BARKLEY And JAMILA TRINDLE

WASHINGTON—The number of U.S. workers filing new claims for jobless benefits slid last week to the lowest level in nearly two and a half years, indicating that labor-market conditions continue to improve.

Initial unemployment claims declined by 34,000 to 388,000 in the week ended Dec. 25, the first time the figure has dropped below 400,000 since July 2008, the Labor Department said Thursday in its weekly report. The previous week's figures were revised up slightly to 422,000 from 420,000.

Economists surveyed by Dow Jones Newswires had expected claims would fall by just 2,000.

The four-week average of new claims, which aims to smooth volatility in the data, also fell to its lowest point since July 2008. That more closely watched figure decreased by 12,500 to 414,000.

While seasonal layoffs often pick up in the week before Christmas, a Labor Department economist said there is nothing unusual about the figures reported by individual states.

The ongoing decline in initial claims provides some basis for optimism about the labor market following a disappointing monthly employment report for November. The positive weekly figures suggest the December jobless report, due for release Jan. 7, could show a decline in the unemployment rate from the seven-month high of 9.8% reached last month.

http://online.wsj.com/article/SB10001424052970204304204576051450430209160.html

[nebenaube]

1. snow and christmas obligations...

I doubt anyone gave a damn about filing for unemployment until Jan 3rd...

[Name removed]

4. Deleted message

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[dkf]

11. They don't need their money so Christmas comes first?

Wow these unemployed people must be flush in the pocket huh?

[Aramchek]

16. It's not snowing everywhere. but that's a handy excuse...

[RBInMaine]

18. Nonsense !

[Clio the Leo]

21. Yep, but I'll take it...

.... I fully expect the number to go back up above 400,000 next week. But at this point, I'll take even baby steps.

[MadHound]

2. How despicable is that?

Praising the fact that people can't get out and about to the Unemployment Office and file for UI benefits, all to make Obama look better. Praising natural disaster so that Obama looks good:eyes:

No shame, none at all.

[Name removed]

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[MadHound]

8. Don't need an anti-depressant,

Though if Obama continues to sell out to the rich, continues the war on public education, continues these illegal, immoral wars, continues to break promises, I just might.

He is not the worst president I've seen, but he certainly is starting to rank right up there. If you don't like the truth, oh well, that's your problem.

[Name removed]

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[great white snark]

5. Did you notice the "lol?"

Get a grip.

[MadHound]

7. The point being?

The OP is laughing at people's misfortune in the snow, oh boy.

[phleshdef]

12. LOL. Your reasoning that snow has anything to do with it is sillier than global warming denial.

Just stop it. You look entirely too desperate.

[impik]

14. Heeeeeeeeeeeeeeeee. You are awesome.

[RBInMaine]

19. Your comment is ridiculous and without merit. The SHAME is YOURS.

[Clio the Leo]

22. lol, why do you hate America?

Do you not want this nation to succeed? (hyperbole is fun!)

[high density]

25. Are people flying to their unemployment office?

The snow didn't fall for a week.

[DCBob]

6. This was for the week ending Dec 25.. the big snow happened after that.. right?

Regardless this is very good news and hopefully the beginning of a positive trend.

[Clio the Leo]

23. good point...

... but I think parts of the northwest were affected before the end of the week. Either way, I think the weather and the holiday all came together to produce a number that I am cautiously glad to see.

And like I said before, I dont care the reason, I'll take it!

[DCBob]

29. Agreed. We desperately need some good news..

amid the doom and gloom. Cheers!

[rgbecker]

10. Chart here:

http://www.businessinsider.com/chart-of-the-day-weekly-jobless-claims-2009-11

Little easier to see the trend. This chart shows November....These numbers today are lower yet.

[Clio the Leo]

24. Prettiest picture I've seen all day. nt

[chelsea0011]

13. The people spoke and republicant policies are now working.

Praise the lord!

Sunday shows coming up and some republicant will try to make the case that businesses are now comfortable with change.

[DrToast]

15. Fantastic news if it sticks

Seasonal adjustments are tricky around the holidays, but it's possible this number is legit. If so, this is great news for the labor market.

[jillan]

17. I heard this on the news while driving in my car - I hope nobody was watching me do

a little dance while driving :P

This is great news, may it be the first of many more months with lower first time unemployment claims.

PS - It's not snowing everywhere.

[Clio the Leo]

26. Oh, I think I knocked a filling loose....

... I was so excited.

And you're right, it didn't snow EVERYWHERE. Just HALF of everywhere. ;)

[craigmatic]

20. I agree with the thread starter. It's more going on than just the economy improving.

I expect the numbers to be revised down in the coming months.

[intheflow]

27. Between seasonal hiring and people running out of benefits

I can see how jobless claims could fall. But that's not necessarily a reflection of actual employment rates, nor any indication (if a true reflection of job recovery) that formerly jobless people are employed with livable wages.

[neverforget]

28. That and a shortened work week due to Christmas