Jobless claims tumble to 166,000, lowest level since 1968

[Slartibartfast]

Most old people don't retire from low wage service industry jobs so that doesn't fly.

A lot of people in this country tend to be underemployed, so they are backfilling gaps that open up for higher wage jobs.

 

[Callen]

I'm not sure why so many people have decided to quit working and why so many positions remain unfilled but these gas prices could be part of the equation. Filling up for a regular commute cuts deeply into the bottom line of these low wage service industry positions.

I'm confused, something easily done. Doesn't a low first time jobless claims number mean people who want to are going back to work? I know you can't claim benefits if you quit but I don't see how a low jobless claims number is reflective of people quitting. Isn't it more reflective of them either working or having the financial resources not to have to work?

 

[What if...?]

So where are the entry level no skill applicants for the burger flipping jobs. Moms basement? Posting in here all day?

Uber, and other gig economy jobs got a lot of them.

 

[What if...?]

A lot of people in this country tend to be underemployed, so they are backfilling gaps that open up for higher wage jobs.

Yup. I got a $10-20k a year raise and my old position is open for someone else.

 

[Slartibartfast]

Yup. I got a $10-20k a year raise and my old position is open for someone else.

I got a 18k/year retention raise as well, but am in the same position. I am currently job hunting and may make another 40k on top. However, in the last year, I gained some new job skills as well, which is the reason for the jump.

 

[Slartibartfast]

Uber, and other gig economy jobs got a lot of them.

The number of uber drivers here have gone way down. They might be filling into more permanent roles.

 

[Tender Branson]

It also depends WHICH jobs Americans have.

A job may be useless if it’s minimum wage … but it shows up as a job in the employment statistics.

 

[WorldWatcher]

I'm 60.

You're 60? Holy crap I thought you were younger than that.

..... ..... ..... ..... ..... Maybe 59 1/2.

..... ..... ..... ..... ..... ..... ..... ..... ..... OK, I'll duck now.

WW

 

[Taylor]

Sadly, a recession is looking more and more likely.

 

[tres borrachos]

You're 60? Holy crap I thought you were younger than that.

..... ..... ..... ..... ..... Maybe 59 1/2.

..... ..... ..... ..... ..... ..... ..... ..... ..... OK, I'll duck now.

WW

HAHAHAHAHA!!!

I'm a 20 year old trapped in a 60 year old body.

 

[ElChupacabra]

I'm confused, something easily done. Doesn't a low first time jobless claims number mean people who want to are going back to work? I know you can't claim benefits if you quit but I don't see how a low jobless claims number is reflective of people quitting. Isn't it more reflective of them either working or having the financial resources not to have to work?

Much of the quitting that's been part of the "Great Resignation" has been people moving to higher paying jobs due to the competitive market; I am one of them. We also had people who fell into the category of having the financial resources not to work; women with young children are a good example of that group as are early retirees.

 

[ElChupacabra]

Yup. I got a $10-20k a year raise and my old position is open for someone else.

Now is a great time to position yourself in the job you really want versus having to settle. A member of my wife's family is a recruiter for a major sportswear company, and we were chatting the other day about the market and he was saying how there is little pushback against salary demands from new prospects; unless, of course, it's an outrageous request. When I negotiated my new salary, they met my asking salary which was at the high end of my range.

 

[Callen]

Much of the quitting that's been part of the "Great Resignation" has been people moving to higher paying jobs due to the competitive market; I am one of them. We also had people who fell into the category of having the financial resources not to work; women with young children are a good example of that group as are early retirees.

I get that, what I don't get is how that is reflected in jobless claims.

 

[The AntiDonald]

Yes, absolutely. But the smart people know why inflation exists all over the world, and the POTUS Is not responsible for worldwide inflation. Which is why the smart people don't blame Joe Biden for it.

Judging from his poll numbers on the economy, there are very few smart people here in America.

 

[CharloTexan]

A young burger flipper isn't qualified to move into a retiring executives position.

Please contribute to the discussion with something relevant.

 

[Lord of Planar]

More excellent news that should make all Americans happy.

The number of Americans filing for unemployment benefits last week tumbled to the lowest level in more than half a century, the latest evidence of an increasingly tight labor market.

Figures released Thursday by the Labor Department show that applications for the week ended April 2 dropped to 166,000 from the revised 171,000 a week earlier, easily beating the 200,000 forecast by Refinitiv analysts. It marked the lowest level for jobless claims since Nov. 30, 1968.

More here:

https://www.msn.com/en-us/money/car...pc=U531&cvid=5a7c2759aed64661bd4d6e735062071c

That is not necessarily true. Unemployment benefits only lasts for so long. I'm sure reasonably sure there are at least a million who can no longer claim the benefits.

 

[Lord of Planar]

More excellent news that should make all Americans happy.

The number of Americans filing for unemployment benefits last week tumbled to the lowest level in more than half a century, the latest evidence of an increasingly tight labor market.

Figures released Thursday by the Labor Department show that applications for the week ended April 2 dropped to 166,000 from the revised 171,000 a week earlier, easily beating the 200,000 forecast by Refinitiv analysts. It marked the lowest level for jobless claims since Nov. 30, 1968.

More here:

https://www.msn.com/en-us/money/car...pc=U531&cvid=5a7c2759aed64661bd4d6e735062071c

Your article also says:

Continuing claims, or the number of Americans who are consecutively receiving unemployment aid, rose slightly to 1.54 million for the week ended March 26, up by 17,000 from the previous week's revised level. ​

 

[MTAtech]

I'm not sure why so many people have decided to quit working and why so many positions remain unfilled but these gas prices could be part of the equation. Filling up for a regular commute cuts deeply into the bottom line of these low wage service industry positions.

Are you suggesting that people are quitting their jobs because gas is too high?

Let U.S. review this mathematically. Let’s assume that each worker drives alone and doesn’t carpool.
The average car is driven 15,000 miles per year and gets 25 miles per gallon.

That means they use 600 gasoline per year. If gas is up $1, that adds $600 a year to costs. Are you going to quit your job over $600?

Another fact undercutting your argument is that people were quitting jobs before gas rose in price.

 

[tres borrachos]

Your article also says:

Continuing claims, or the number of Americans who are consecutively receiving unemployment aid, rose slightly to 1.54 million for the week ended March 26, up by 17,000 from the previous week's revised level. ​

Cool story.

Is it not the lowest in 54 years? Yes, yes it is. Rejoice.

 

[tres borrachos]

That is not necessarily true. Unemployment benefits only lasts for so long. I'm sure reasonably sure there are at least a million who can no longer claim the benefits.

I'm reasonably sure you need to back that up.

Can't stand the good news, can you?

 

[Lord of Planar]

Biden did nothing but slow the natural comeback of the economy once businesses were allowed to reopen.

My opinion is that it is criminal for the government to have closed down businesses. It's amazing how many homeless we have ion the Portland area who lost their businesses and are now somewhat homeless, living out of their RVs. With their losses, were the lost jobs of all the people they once employed.

Just look at how numerous and massive the homeless camps have become nationwide.

 

[Lord of Planar]

One place the RV homeless are is at NE 133rd in Portland:

 

[Lord of Planar]

Cool story.

Is it not the lowest in 54 years? Yes, yes it is. Rejoice.

WTF? Rejoice that people have run out of unemployment benefits? And rejoice that others are working lower level jobs than they are suited for?

 

[tres borrachos]

WTF? Rejoice that people have run out of unemployment benefits? And rejoice that others are working lower level jobs than they are suited for?

No. Because you can't prove that. The smart people know this is great news because the smart people know unemployment claims tumbling to the lowest level in 54 years is a great thing. The smart people also know the unemployment rate is below 4% and you can get a job almost anywhere in this country now.

 

[Lord of Planar]

I'm reasonably sure you need to back that up.

Can't stand the good news, can you?

Maybe you should instead report the unemployment numbers that include those who no longer qualify, before you rejoice. I don't remember how many ways there are they calculate the unemployment numbers, but I remember their are at least eight methods they calculate it.

Just calculating unemployment claims does not show the true numbers.