Jobless Claims drop to 366k

Samhain · Dec 15, 2011

Jobless claims drop to 3.5 year low | Reuters

New U.S. claims for unemployment benefits dropped to a 3-1/2 year low last week, a government report showed on Thursday, suggesting the labor market

recovery was gaining speed.

Initial claims for state unemployment benefits dropped 19,000 to a seasonally adjusted 366,000, the Labor Department said. That was the lowest level since May 2008.

The prior week's claims data was revised up to 385,000 from the previously reported 381,000.

Economists polled by Reuters had forecast claims rising to 390,000 last week.

The unexpected drop in claims last week pushed them closer to the 350,000 mark that analysts say signals labor market strength.

Hopefully this is a sign we are finally starting to move in the right direction. Lets hope Europe doesn't drag us down.

If these numbers continue to move towards 350,000, I expect a jump in the unemployment number in the next few months.

AdamT · Dec 15, 2011

Good news but I don't put much store in the weekly numbers. Too much variation. There is, however, other good news to go along with it. NY manufacturing grew more than forecast, Fedex, which is a bellweather for the economy, reported better than expected earnings, and Spain had a very successful bond sale. OTOH, China's slowdown is worrisome....

Erod · Dec 15, 2011

It's called CHRISTMAS!

Seasonal work always helps job numbers.

whysoserious · Dec 15, 2011

Erod said:
It's called CHRISTMAS!

Seasonal work always helps job numbers.

It's called WINNING, duh.

Blue_State · Dec 15, 2011

Erod said:
It's called CHRISTMAS!

Seasonal work always helps job numbers.

Seasonally adjusted.

coolwalker · Dec 15, 2011

Up-down, up-down...wait until January 15th to see the numbers change again.

Kreton · Dec 15, 2011

Government is laying off over 200,000 early next year. Those numbers are going to jump.

AdamT · Dec 15, 2011

muciti said:
Government is laying off over 200,000 early next year. Those numbers are going to jump.

Government has been laying off tens of thousands every month for a while now. Otherwise the numbers would be much better.

Jobless Claims drop to 366k

Doesn't know

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