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Purveyor

(29,876 posts) Thu Oct 24, 2013, 02:22 PM Oct 2013

U.S. Jobless Claims Stay Elevated, Manufacturing Slows

Source: REUTERS

WASHINGTON | Thu Oct 24, 2013 11:44am EDT

(Reuters) - The number of Americans filing new claims for unemployment benefits fell less than expected last week, but a lingering backlog of applications in California makes it difficult to get a good read of labor market conditions.

While other data on Thursday showed manufacturing growing at its slowest pace in a year in early October, economists said fundamentals for the factory sector remained fairly healthy.

Initial claims for state unemployment benefits fell 12,000 to a seasonally adjusted 350,000, the Labor Department said.

"Underlying labor market conditions probably are not as bad as the recent claims data suggest," said Daniel Silver, an economist at JPMorgan in New York.

Read more: http://www.reuters.com/article/2013/10/24/us-jobless-claims-idUSBRE99N0L520131024

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U.S. Jobless Claims Stay Elevated, Manufacturing Slows (Original Post) Purveyor Oct 2013 OP

There won't be a good read until December, because of the short-term impact of the shutdown. jtuck004 Oct 2013 #1

No Reason For Optimism In December Either DallasNE Oct 2013 #2

jtuck004

(15,882 posts)

1. There won't be a good read until December, because of the short-term impact of the shutdown.

Reply to Purveyor (Original post)

Thu Oct 24, 2013, 02:45 PM

Oct 2013

Not that there aren't much longer term impacts, but just concerning the immediate employment numbers.

DallasNE

(7,403 posts)

2. No Reason For Optimism In December Either

Reply to jtuck004 (Reply #1)

Thu Oct 24, 2013, 04:00 PM

Oct 2013

The last time we went through this employment was depressed for four months and that takes us to the next debt ceiling expiration so I see no reason for optimism for quite some time, depending on the election results in 2014. This could easily drag out into next summer or later.

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