The general trend on initial unemployment claims over the last few months has been largely encouraging, and today's report offers additional good news.
In fact, the new figures are the best since April 2008, and even exceeded positive expectations.
The number of Americans who filed requests for jobless benefits fell by 6,000 last week to 357,000, the U.S. Labor Department said Thursday. Economists surveyed by MarketWatch had projected claims would total 360,000, seasonally adjusted, in the week ended March 31. Claims from two weeks ago were revised up to 363,000 from 359,000. The average of new-benefit applications over the past four weeks, meanwhile, dropped by 4,250 to 361,750.
Despite last week's annual revisions, the same metrics still apply: when jobless claims fall below the 400,000 threshold, it's considered evidence of an improving jobs landscape, and when the number drops below 370,000, it suggests jobs are actually being created rather quickly.
And with that, here's the chart -- which reflects the revised, seasonably-adjusted data -- showing weekly, initial unemployment claims going back to the beginning of 2007. (Remember, unlike the monthly jobs chart, a lower number is good news.) For context, I've added an arrow to show the point at which President Obama's Recovery Act began spending money.
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Great news. I wonder if Boehner just ordered a double.
More likely another double. It's almost 10am there.
Instructions from GOP Headquarters to all it's good little minions:
CALL THESE UNEMPLOYMENT NUMBERS FIXED!!! AS LOUD AND OFTEN AS POSSIBLE!!!
No, you have to set the rules so that you know you can win. The common sound byte coming from the GOP is "well, yes, the numbers are FINALLY starting to improve, but this recovery is not nearly fast enough."
Gee, I wonder WHY the recovery isn't fast enough, GOP? If you look in the mirror, you'll see exactly why.
Was interesting listening to that guy on Morning Joe about how we should love each other. Yea good idea, I will definitely show my love as I keep signing those petitions, phone calls and attending protest rally's plus using my freedom of speech as necessary on blogs. Plus voting to get rid of some deadbeat Republicans.
Point in case, stimulus WORKS but NOT big enough to knock down unemployment rate even LOWER. I see WHY GOP fought tooth and nail discrediting the STIMULUS. In time, Obama strategies are reaping ROI just in time to KNOCK GOP down into the trenches!
Looking at the report, I notice Texas - land of Rick Perry - led the way in new claims, nearly double the next highest state. I guess they hit the ceiling on minimum-wage job creation...
The argument that the recovery is too slow makes me laugh right out. If republicans would have had their way the auto industry would have gone under and hundreds of thousands more job would have been lost. As a political news junky...and I watch all stations (even Fox) I've watched the battle. The arguments. One of the biggest hurtles to recovery is the GOP. Cut taxes again for the top, spend nothing to stimulate growth? I appreciate the argument that the uncertainty of the tax situation is keeping some large companies overseas, but the irony isn't lost on me as to how they ended up overseas in the first place. Tax cuts in the trillions and incentives that allowed them to do so. I'm all for tax cuts to business both small and large for companies that build HERE and employ HERE but they should have to earn those cuts...they shouldn't be freebies to do with as they choose. So if this recovery isn't fast enough..talk to your Republican senators about compromising. They think that's a sign of weakness but they need to do it!
Good Post .. MomfromWI.... :)
Seconded.
I've said for quite some time that the economy would improve, and that the GOP had picked the wrong issue to run on.
That said, what other issue could they have run on?
That Obama didn't favor millionaires enough? Everything Romney makes up to frame a bone of contention is a lie (from "Obama raised taxes on business more than any other president," when he lowered taxes on businesses 17 times to "Obama is taking steps to end Medicare as we know it," when of course it's the GOP's Ryan budget Romney embraces that does that) and a non-issue therefore.
What is a poor GOP to do? I say just crawl off to a hole somewhere and do a Rip Van Winkle. When you re-emerge, you'll find the country a better place without you.
I think someone mentioned this before but color coding this chart like the employment chart - going from Bush to Obama term - would make an even stronger visual statement.
Still waiting for March unemployment rate. Hoping for a decline from February's 8.3%. If it falls below 8% by November, cue the fat lady for Romney.
I would expect the GOP to not mention these figures and make up their own continuously broadcast on FOX.
They know the truth would destroy them. By now it should be apparent that we will not get much of it from them.
Look what I recieved after reminding him of the Republican involment in the Iran/Contra Affair .
politicman1
Reply to your
comment on: Dinesh D'Souza - Obama & 2016
Hey @!$%#, Obama has decieved you, like so many
of the ignorant sheep that follow this piece of @!$%#. Remember when Adolf Hitler
decieved 6000 Jews right into the concentration camps, and there they went to
die! And guess what, they thought like you, thinking Hitler would be a great
leader, little did they know that when they voted him in prime minister of
Germany, they voted for there own demise, just like you will be voting for your
own demise, if you vote Obama in again!
14:10Watch Later Error
Dinesh
D'Souza - Obama & 2016
http://2016themovie.com/ From the CPAC livestream.
I'm a
recent grad looking for a job/internship in the DC metro area, email me:
anangbhai@gmail.com
The craziest thing about this video is that Dinesh was
originally going to give the speech in a mu...