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ProgressiveOne Donating Member (110 posts) Send PM | Profile | Ignore Thu Jul-24-03 04:34 PM
Original message
MSNBC: Jobless claims fall sharply
Data seen as a positive sign for economic recovery

WASHINGTON, July 24 — The number of American workers signing up for jobless benefits plunged last week to the lowest level in five months, a fresh dose of good news for the economy’s revival.


How Convenient.

Link: Jobless claims fall sharply
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diplomats Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-24-03 04:35 PM
Response to Original message
1. I read that the Labor Dept. is cautioning
that July numbers can fluctuate, so it could be an aberration.
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NNN0LHI Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-24-03 04:35 PM
Response to Original message
2. Sounds like peoples unemployment is running out to me n/t
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study_war_no_more Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jul-25-03 01:05 AM
Response to Reply #2
22. excactly read between the lines
Jobless claims dropped. Many cannot claim unemployment since funds are exausted or the jobs were crappy to begin with or tempory or part time.
Vooddooo numbers.
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mbperrin Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-24-03 04:36 PM
Response to Original message
3. Isn't it, though?
Especially when consensus favored an UPtick!

Now you don't think that Dumbya would fake some figgers, do ya?

</reliance on PCP to clear mind>
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samsingh Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-24-03 04:37 PM
Response to Original message
4. maybe people just stopped looking for work
one day - news is good
the next day its bad again.

stock market still went down today.

the brothers grim getting killed, good economic news - it seems to be a combined attempt to change the subject from the SOTU lies and the Iraq quagmire.
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PretzelWarrior Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-24-03 04:40 PM
Response to Reply #4
5. more important: changing subject from 911 report and REDACTIONS
Saudi Arabia! State Sponsor of Terror!!! No bombs falling, and not even any threats. Meanwhile, Iran and Syria daily get the diplomatic chest bump from USA.
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progressivebydesign Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-24-03 06:07 PM
Response to Reply #4
10. Didn't seem to be that big of a bounce..
I see that so many people in the media are talking about a stock market bounce, due to the killings of the brothers. But.. it wasn't much, and when I looked, the market had gone down for while yesterday. I think the continued deaths of our troops temper any undue optimism. Gee.. we flouted the Geneva Convention, and we didn't even get a decent bounce in the market.
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study_war_no_more Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jul-25-03 01:07 AM
Response to Reply #10
23. It'll pick up when we get saddams gradma
Have faith.
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Demobrat Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-24-03 04:44 PM
Response to Original message
6. If this is about new claims it's good news.
If it refers to the number of people collecting, it just means people's benefits are running out. I do hope it's the first. People have suffered tremendously under W. As tempting as it is to hope for the worst so that he looks bad, I live in an area with very high unemployment (SF) and it's sad and scary. Bush's lies will take him down, we don't need any more people to lose their homes, relationships and self-esteem to beat him.
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headlouse Donating Member (215 posts) Send PM | Profile | Ignore Thu Jul-24-03 06:47 PM
Response to Reply #6
12. actually, SF has been shielded from much of the recession
Though I do agree it's ugly here in SF, especially with the CA budget disaster set to push tons of state employees into the poor house*. However in other parts of the country there isn't even minimum wage jobs available.

*Damn repugs are forcing a $110 million cut in state employee payroll and the democowards are agreeing to it. One of my friends is now indanger of either loosing his job or being forced to have his pay cut to minimum wage. Funny thing about that second option is that he'd make more in unemployment. Of course, neither option will cover rent.
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Maeve Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-24-03 07:04 PM
Response to Reply #6
14. It is initial claims
But, as noted, summer figures tend to fluctuate more. The four-week average is still above 400,000. If it is the start of a trend, well...
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Uzybone Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-24-03 04:46 PM
Response to Original message
7. There are only so many jobs to lose
the jobless claims are bound to fall eventually. Not every last person in the US can be laid off (even if its Ws wet dream). I do hope there is recovery on the horizon but I really do not see it coming.
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Mithras61 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-24-03 04:47 PM
Response to Original message
8. That's why I don't use the U3 numbers, but prefer
Edited on Thu Jul-24-03 04:48 PM by Mithras61
the U6 which measures all unemployed, whether they files claims or not.

http://www.bls.gov/news.release/empsit.t12.htm for the latest (June figures still not available).
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bahrbearian Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-24-03 05:23 PM
Response to Reply #8
9. But even using the U-6 numbers
aren't the numbers going down, and don't the numbers go down anyway in the summer and hasn't it taken longer this year?
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Mithras61 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-24-03 07:00 PM
Response to Reply #9
13. Latest U6 numbers aren't reported yet, but
the last three ones were 9.7 for May and 10.6 for June 2003. That means a .9% increase inU6 from May to June this year. These are unadjusted, but even so they are not encouraging. They indicate a 4.1% difference between the "official" rate and the "actual" rate.

Also, there's a difference between the U3 (the offical rate) and the U4 (unemployed plus discouraged workers) that needs to be examined. If the U4 goes up and the U3 goes down, that means people are leaving the labor force, and that's REALLY bad news, because not only is their UI is running out, they've given up on finding work.
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DavidDvorkin Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-24-03 06:22 PM
Response to Original message
11. It's almost amusing to read that headline
the day after I got laid off.


http://www.dvorkin.com
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arikara Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-24-03 10:19 PM
Response to Reply #11
17. I'm sorry
Good luck in finding something decent really soon.
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stevebreeze Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-24-03 07:47 PM
Response to Original message
15. none of the official number count everything
Things like people who go back to school after giveing up on the job market. Most school are packet to the rafters.despite the rising costs.
:kick:
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leesa Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-24-03 10:09 PM
Response to Original message
16. Boy these thugs are pulling out all the propaganda stops this week
So everyone has run out of benefits, eh?
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SOS Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-24-03 10:40 PM
Response to Original message
18. Great News!
Only 360,000 people lost their jobs in the past four weeks. Those tax cuts are really working their magic.
:eyes:
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Yavin4 Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jul-25-03 12:51 AM
Response to Original message
19. It's Summer , People Went To The Beach
instead of standing in a hot UE claims office.
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Robin Hood Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jul-25-03 12:55 AM
Response to Original message
20. Jeez it better do something in summer.
If production isn't up in summer than it's really bad.
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Nottingham Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jul-25-03 01:03 AM
Response to Original message
21. This is Bogus and Bull! Lies Lies
:bounce: I don't believe it and neither did the stock market
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