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Title: Unemployment claims drop sharply to 434K
Source:
Yahoo
URL Source: http://news.yahoo.com/s/ap/20101028/ap_on_bi_go_ec_fi/us_economy
Published: Oct 28, 2010
Author: AP
Post Date: 2010-10-28 09:11:16 by go65
Keywords: None
Views: 7991
Comments: 20
WASHINGTON – Fewer people applied for unemployment benefits last week, the second drop in a row and a hopeful sign the job market could be improving. The Labor Department says initial claims for jobless benefits dropped by 21,000 to a seasonally adjusted 434,000 in the week that ended Oct. 23. It was the second-lowest number for claims this year. The only time it was lower was during the July 10 week, and that week was affected by the Independence Day holiday when state unemployment offices were closed. Stock futures rose after the report was released. Wall Street analysts had expected a tiny increase. Claims will need to keep falling to signal a widespread increase in hiring. Claims have fluctuated around 450,000 for most of this year, and have fallen below that level seven times. But they have always rebounded in subsequent weeks, and haven't remained below 450,000 for longer than two weeks. The four-week average, a less volatile measure, dropped by 5,500 to 453,250, the lowest level since the week of July 24. Applications for unemployment aid fell steadily last year after the recession ended in June 2009, dropping from 600,000 to about 450,000 by January of this year. Employers haven't done much hiring in recent months with economic growth so weak. The economy grew 1.7 percent in the April-June period, an anemic pace in normal times and even worse in the aftermath of the Great Recession. Economists expect that the Commerce Department on Friday will report slightly better growth of 2 percent for the July-September period. But that's still sluggish after a deep recession. The economy needs to grow by at least 5 percent for a full year to bring down the unemployment rate by a percentage point, economists estimate. The jobless rate is currently 9.6 percent, down only slightly from 9.7 percent in January. Some companies are adding workers. Pharmaceuticals company Novartis AG said Wednesday that it will add 300 new jobs and invest $600 million over the next five years in its research headquarters in Cambridge, Mass. And engine maker Cummins, Inc. said Tuesday that it will expand its headquarters in Columbus, Ind. and add at least 350 jobs by 2012. The number of people continuing to receive jobless aid also dropped sharply last week, falling by 122,000 to 4.36 million, the department said. But that doesn't include an additional group that is receiving extended benefits under an emergency program approved by Congress during the recession. The emergency benefit rolls fell by more than 400,000 to about 4.7 million for the week ending Oct. 9, the latest data available. Much of the decline is likely due to people using up all the unemployment aid they are eligible for. All told, about 8.8 million people received unemployment benefits that week.
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#1. To: go65 (#0)
This cannot be happening. I am the Employment King of flyover country and no one is finding work. I am getting killed under Owe-Mama. Sorry, the other internets need my thoughtful insights into women.
Sorry, the other internets need my thoughtful insights into women. my new favorite poster. :-)
Total Civilian Work Force numbers please.
Whatever Grayson. Your liberal agenda is going to as worn as the stock of my combat pistol come Tuesday when Did I tell you Im an independent yet?
The Only Labor Action that's important today: "As well as serving the several refineries around Fos-Lavera, the port serves the South European Pipeline. That pipeline supplies the refineries, and a petrochemical plant, located along the inland axis from Fos to Karlsruhe, Germany. The pipeline transports about 23 million metric tons a year, or more than 30% of the crude oil transport in Europe, according to its website. -By Angeline Benoit, Dow Jones Newswires, +33 1 4017 1756; angeline.benoit@dowjones.com
I love refineries. Refine, baby, refine. I expesheelie love Exxon and Mobiles refineries. Works for me.
Works for me. And I love watching the French shut them down. Just a preview for when lack of pumping does the same. 8D
in the last jobs report, government lost 159,000 while private sector gained 64,000.
The French suck. Liberals are French. There should be something after that. But whatever its works for me.
There should be something after that. But whatever its works for me. And...thank you. Had to get your ID. Triangulation complete. Another zioFundy joins LF. Welcome. And get ready for incoming. 8D French show the world how to stop the Top 50 000 in their tracks. # Å8; # Mike Whitney: Thank God for France Oct 22, 2010 ... "French Energy Sector Crippled by Nationwide Strike. ... Mike Whitney lives in Washington state and cvan be reached at fergiewhitney@msn.com ... www.counterpunch.org/whitney10222010.html
in the last jobs report, government lost 159,000 while private sector gained 64,000. That's not the same thing. According to the BLS, there are 138.3 million jobs in October 2009 in the U.S. This number is down from a high of 146.665 million in November 2007, the beginning of the current recession. And 500 000 per month would be approx 6 million lost in a year, so 132.3 million in the TCWF now.
Why do you hate America and our buddy Israel? Israel saves us from evil doers who do things like Medicare Part D in 2003 so we fire them in 2006.
And Thank you again? What happened to the Funnies!? All the pronunciations/goofiness? Now u're sooo serious. Lighten up! And just why did America establish a World Beating (literally;} Empire. I never read that in the Constitution?
And never opt out of Gov't Medicare. As bad as it is. Single Payer/Medicare/VA for ALL. We'll get it or die. Literally. 8D US now 49th in Health. Collapsing empire watch - Glenn Greenwald - Salon.com Oct 11, 2010 ... It's now 49th. There are other similarly potent indicators. In 2009, the National Center for Health Statistics ranked the U.S. in 30th place ... www.salon.com/news/opinion/glenn_greenwald/.../empire - Cached Å8; 2. US Now Ranks 49th in Life Expectancy - Tech Support Forums ... Oct 11, 2010 ... Blog Entries: 47. US Now Ranks 49th in Life Expectancy ... Is the US health system at least partly to blame for this deterioration in ... www.techimo.com/.../25328...49th-life-expectancy.html - Cached
Agree.
More PRE All Saints Parties on Tap. All invited!!! BYOB. 8D Obama: Larry Summers doing 'A Heckuva Job.' Not made up. Jon Stewart last nite. NASA, we have lift off!!!!!
"On January 3, 2011 the GOP assumes responsibility for deficit spending."- go65 Already getting better and we haven't even taken the keys.
-----------------------------------------------------------
pathetic, GO.
Obama's first all-by-his-lonesome budget, btw, calls for a $1.17 trillion deficit.
That's your problem, mcclown....you are all backed up! How's the Gulf Coast evacuation proceeding? What's the death toll now?
#2. To: Boofer T. Bagger (#1)
This cannot be happening. I am the Employment King of flyover country and no one is finding work. I am getting killed under Owe-Mama.
On January 3, 2011 the GOP assumes responsibility for deficit spending.
#3. To: go65 (#0)
(Edited)
#4. To: go65 (#2)
100, 90, 70, several dem seats are lost in the House and the GOP most definitely will probably take the Senate, maybe.
#5. To: All (#3)
#6. To: mcgowanjm (#5)
#7. To: Boofer T. Bagger (#6)
I love refineries. Refine, baby, refine. I expesheelie love Exxon and Mobiles refineries.
#8. To: mcgowanjm (#3)
Total Civilian Work Force numbers please.
On January 3, 2011 the GOP assumes responsibility for deficit spending.
#9. To: mcgowanjm (#7)
#10. To: Boofer T. Bagger (#9)
The French suck. Liberals are French.
#11. To: go65 (#8)
Total Civilian Work Force numbers please.
#12. To: mcgowanjm (#10)
#13. To: Boofer T. Bagger (#12)
Why do you hate America and our buddy Israel? Israel saves us from evil doers who do things like Medicare Part D in 2003 so we fire them in 2006.
#14. To: Boofer T. Bagger (#12)
like Medicare Part D
#15. To: mcgowanjm (#13)
#16. To: mcgowanjm (#14)
Agree.
#17. To: Boofer T. Bagger (#16)
Agree.
#18. To: go65 (#0)
Barrack Hussein Obama
President of the United States of America said that some Americans ; "They can come for the ride, but they gotta sit in back."
#19. To: go65 (#2)
my new favorite poster. :-)
#20. To: mcgowanjm (#7)
lack of pumping
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