It’s Unexpected!™

Happy days are here again!

The number of Americans filing new claims for unemployment benefits fell more than expected last week, offering hope that the sluggish labor market recovery may have picked up a step.
Initial claims for state unemployment benefits dropped 27,000 to a seasonally adjusted 341,000, the Labor Department said on Thursday. The prior week’s claims figure was revised to show 2,000 more applications received than previously reported.
Economists polled by Reuters had expected claims to fall to 360,000.
“This is consistent with the good news coming out of the employment market, signs that things are getting better,” said Peter Cardillo, chief market economist at Rockwell Global Capital in New York.
The dollar rose against the yen, while prices for U.S. Treasury debt fell after the data.

So it is real? Buck? Anyone?

- Aggie

4 Comments »

  1. Bloodthirsty Liberal said,

    February 14, 2013 @ 1:36 pm

    The CNN account says that the number is probably artificially low because of the blizzard. Wait till next week and see what happens. Th hamsters won’t know what hit them.

  2. Bloodthirsty Liberal said,

    February 14, 2013 @ 2:35 pm

    I wonder if we could catalog the natural occurrences that have impacted these numbers of the past 4 years? Tsunamis, hurricanes, storms, heat, cold, bad mood, downright grouchiness…

    - Aggie

  3. Buck O'Fama said,

    February 14, 2013 @ 5:28 pm

    ““This is consistent with the good news coming out of the employment market, signs that things are getting better,”

    Actually, it’s consistent with the “good news” coming out of the employment market that companies are creating part-time jobs and eliminating full-time ones in order to avoid paying for mandated health insurance.

    And how many times have we read similar sentiments since 2009? At least once a quarter. Did things get better after any of those? Is there any real reason to believe they’re getting better now?

  4. Bloodthirsty Liberal said,

    February 14, 2013 @ 9:05 pm

    Ah, I hadn’t considered the part-time angle. Thanks, Buck. I bet you’re right about that. Here in Massachusetts, if you make something like $300 in a given week, you’re not supposed to apply for unemployment. So if MacDonald’s cuts its full-time workers to half time (to avoid ObamaCare), they will have to hire more people. Brilliant. Free health care for all and unemployment drops! What a brilliant President we have.

    - Aggie

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