Jobless claims drop to lowest level in eight years

[SmedlyButler]

Never mind the 100 million out of work. I see the OP is mining in a thin seam once again.

Only the simple minded buy that crap. Try some facts.

From the Washington Post. (I can hear you squealing now about the messenger but it's a better source than yours, which must have been your ass.).

The Facts

The Bureau of Labor Statistics does show that there are nearly 92 million Americans out of the workforce. But dig into the numbers and it is clear that it’s silly to say all of these people are “on the sidelines” and need action from the president and the Congress.

This BLS document shows that the civilian noninstitutional population—essentially, people over the age of 16–is nearly 247 million. The civil labor force is 155 million, with a participation rate of 62.8 percent. So that leaves nearly 92 million “not in the labor force.” What does that mean?

Essentially, it means everyone above the age of 16 who is not working. The BLS breaks it down even further, and it quickly becomes clear that the vast majority of these people are retired or simply are not interested in working, such as stay-at-home parents.

•6 million want a job now but cannot find one.

•2.4 million did not actively search for work.

•1.5 million did not search for work because they are students or left the job market for family reasons, illness or some other factor.

•900,000 are discouraged and think no job is available.

Add that up, along with the 10.3 million who are unemployed, and then maybe you could say there are 21 million people who are “on the sidelines” of the job market. But the other 80 million people have permanently left the work force.

FROM: wp.com

Not squealing about the source but can definitely hear you parroting left wing rags. Again, the calculus changed in 1994. The u3 is hardly representative as an official number for unemployment.

The metric you use is _______.

 

[SmedlyButler]

Economic good news Libs?
The economy contracted the first quarter.

Though it's a scary "blip" for the man in the street Wall Street hasn't stopped to catch it's breath, it stampedes on. Most economists say it's a one-off. You can go back to your playstation 'til the second quarter results are in.

 

[pinqy]

Never mind the 100 million out of work. I see the OP is mining in a thin seam once again.

Only the simple minded buy that crap. Try some facts.

From the Washington Post. (I can hear you squealing now about the messenger but it's a better source than yours, which must have been your ass.).

The Facts

The Bureau of Labor Statistics does show that there are nearly 92 million Americans out of the workforce. But dig into the numbers and it is clear that it’s silly to say all of these people are “on the sidelines” and need action from the president and the Congress.

This BLS document shows that the civilian noninstitutional population—essentially, people over the age of 16–is nearly 247 million. The civil labor force is 155 million, with a participation rate of 62.8 percent. So that leaves nearly 92 million “not in the labor force.” What does that mean?

Essentially, it means everyone above the age of 16 who is not working. The BLS breaks it down even further, and it quickly becomes clear that the vast majority of these people are retired or simply are not interested in working, such as stay-at-home parents.

•6 million want a job now but cannot find one.

•2.4 million did not actively search for work.

•1.5 million did not search for work because they are students or left the job market for family reasons, illness or some other factor.

•900,000 are discouraged and think no job is available.

Add that up, along with the 10.3 million who are unemployed, and then maybe you could say there are 21 million people who are “on the sidelines” of the job market. But the other 80 million people have permanently left the work force.

FROM: wp.com

Not squealing about the source but can definitely hear you parroting left wing rags. Again, the calculus changed in 1994. The u3 is hardly representative as an official number for unemployment.

The only change to the definition of unemployed in 1994 was that before, people waiting to start a new job were classified as unemployed whether or not they looked for work in the last 4 weeks. Since then, they're only unemployed if they looked. That's it. Not a significant change.

 

[Avorysuds]

... and the labor participation rate is the lowest in 40 years... people have given up. And why shouldn't they? The Dems have made it pretty clear that nobody should have to work.

I thought the unemployment numbers were the most important economic indicator to conservatives. Why the sudden shift to Labor Participation Rate?

Why didn't conservatives mention the Labor Participation Rate when it dropped every year under Bush?

Because their hyper partisan, just like you.

Seriously people, you fools on the left. You will be a joke in the history books. Teachers will talk about how politicians manipulated UE rates to show the opposite of reality and how their base bought it.

Fact is less people are working despite a higher population. Everyday less people like Obama, no matter how much you tell them Obamacare is good or how low the UE rate is. The reason for that is living the reality depresses people.

 

[Avorysuds]

I thought the unemployment numbers were the most important economic indicator to conservatives. Why the sudden shift to Labor Participation Rate?

Why didn't conservatives mention the Labor Participation Rate when it dropped every year under Bush?

That's what you get for thinking.... now, go back to sleep.

I wish you guys could make up your mind

All we heard for four years was unemployment, unemployment, unemployment

Now all of a sudden you are concerned with the labor participation rate that has been dropping for 15 years

Did you really post a graph showing that you lied when you claimed the LF rate dropped ever year under Bush like it has under Obama?

Hey, cool.

The reason the LFPR number became important is because the UE rate was not dropping while the LFPR rate was dropping too... It's uniqe to Obama's Presidency you ignorant fool.

 

[Avorysuds]

Economic good news

Jobless claims drop to 284,000, lowest since 2006

The number of people seeking U.S. unemployment benefits fell last week to its lowest level in eight years.

The Labor Department says weekly applications for unemployment aid dropped 19,000 to a seasonally adjusted 284,000. That's the lowest reading since February 2006, nearly two years before the Great Recession began.

The four-week average, a less volatile measure, declined 7,250 to 302,000. Claims for jobless aid have been falling for the past three months.

Applications are a proxy for layoffs. When businesses hold onto staff, increased hiring and stronger economic growth often follows.

Hiring is at its healthiest clip since the late 1990s and the 6.1 percent unemployment rate is at a 5 1/2-year low. Employers added 288,000 jobs in June, the fifth straight month of job gains above 200,000.

I love how the Rightwingers on this board dismiss this news because they are too immature to give Obama credit for anything. If Romney was president right now, they wouldn't stop talking about it.

Correct, and people like you would never shut up about it. Does not change the reality of less people actually working, making the UE rate going down truly irrelevant.

 

[Remodeling Maidiac]

This achievement shouldn't be hard to attain considering all the people who simply quit looking for work along with the massive increase on the welfare dole.

 

[Oldstyle]

Economic good news

Jobless claims drop to 284,000, lowest since 2006

The number of people seeking U.S. unemployment benefits fell last week to its lowest level in eight years.

The Labor Department says weekly applications for unemployment aid dropped 19,000 to a seasonally adjusted 284,000. That's the lowest reading since February 2006, nearly two years before the Great Recession began.

The four-week average, a less volatile measure, declined 7,250 to 302,000. Claims for jobless aid have been falling for the past three months.

Applications are a proxy for layoffs. When businesses hold onto staff, increased hiring and stronger economic growth often follows.

Hiring is at its healthiest clip since the late 1990s and the 6.1 percent unemployment rate is at a 5 1/2-year low. Employers added 288,000 jobs in June, the fifth straight month of job gains above 200,000.

I love how the Rightwingers on this board dismiss this news because they are too immature to give Obama credit for anything. If Romney was president right now, they wouldn't stop talking about it.

With all due respect, Billy...what has Barack Obama done to bring unemployment down? Correct me if I'm wrong but the last time I checked "fund raising" wasn't considered a big driver in the creation of jobs!

 

[Avorysuds]

Economic good news

Jobless claims drop to 284,000, lowest since 2006

The number of people seeking U.S. unemployment benefits fell last week to its lowest level in eight years.

The Labor Department says weekly applications for unemployment aid dropped 19,000 to a seasonally adjusted 284,000. That's the lowest reading since February 2006, nearly two years before the Great Recession began.

The four-week average, a less volatile measure, declined 7,250 to 302,000. Claims for jobless aid have been falling for the past three months.

Applications are a proxy for layoffs. When businesses hold onto staff, increased hiring and stronger economic growth often follows.

Hiring is at its healthiest clip since the late 1990s and the 6.1 percent unemployment rate is at a 5 1/2-year low. Employers added 288,000 jobs in June, the fifth straight month of job gains above 200,000.

I love how the Rightwingers on this board dismiss this news because they are too immature to give Obama credit for anything. If Romney was president right now, they wouldn't stop talking about it.

With all due respect, Billy...what has Barack Obama done to bring unemployment down? Correct me if I'm wrong but the last time I checked "fund raising" wasn't considered a big driver in the creation of jobs!

He is a stimulus when he first was elected! And then UE jumped over 10% despite Obama himself telling us it wouldn't go over 8% with a trillion spent on nothing you can point to today.

All jobs since Obama took office are 100% owed to King Obama and his court of Democrats. Even if by % less people are working today than when he started this crusade.

 

[Howey]

Thanks Obama!

 

[Howey]

This achievement shouldn't be hard to attain considering all the people who simply quit looking for work along with the massive increase on the welfare dole.

Like the 10000 baby boomers retiring every day?

 

[edthecynic]

If 200,000 jobs are created and 200,000 people file for UE benefits.

How is this such great news?

Because the 200,000 created is a NET after deducting those who lost jobs.

So are you saying that 400,000+ jobs were created?

407,000 to be exact!

 

[Kosh]

And the far left still does not understand anything beyond what their rich white far left masters tell them.

 

[Bush92]

Haaaaaaaahaaaaaaa. Your fucking David Axelrod right? What a fucking joke!

 

[Politico]

Tell that to the 16 thousand HP employees and 19 thousand IBM employees. Lot's of Indians to take up that slack.

Thank you, come again.

As an American, aren't you happy that jobless claims have dropped?

Do you want America to fail?

No because it just means more people have given up.

 

[LoneLaugher]

Tell that to the 16 thousand HP employees and 19 thousand IBM employees. Lot's of Indians to take up that slack.

Thank you, come again.

As an American, aren't you happy that jobless claims have dropped?

Do you want America to fail?

No because it just means more people have given up.

That's brilliant! More Americans have just given up? Millions upon millions of sane, able bodied American adults have decided to stop looking for work at all....because the economy is getting worse and there are fewer jobs available each month. Brilliant!

 

[edthecynic]

Tell that to the 16 thousand HP employees and 19 thousand IBM employees. Lot's of Indians to take up that slack.

Thank you, come again.

As an American, aren't you happy that jobless claims have dropped?

Do you want America to fail?

No because it just means more people have given up.

Except that number is DECLINING!!!!!!!
Minor detail!

Employment Situation Summary

Among the marginally attached, there were 676,000 discouraged workers in June, a
decrease of 351,000 from a year earlier. (The data are not seasonally adjusted.)
Discouraged workers are persons not currently looking for work because they believe
no jobs are available for them.

 

[LoneLaugher]

As an American, aren't you happy that jobless claims have dropped?

Do you want America to fail?

No because it just means more people have given up.

Except that number is DECLINING!!!!!!!
Minor detail!

Employment Situation Summary

Among the marginally attached, there were 676,000 discouraged workers in June, a
decrease of 351,000 from a year earlier. (The data are not seasonally adjusted.)
Discouraged workers are persons not currently looking for work because they believe
no jobs are available for them.

What are the odds that we'll be repeating this conversation in a couple of weeks when July's UE numbers are released?

The inability of our USMB nutters to grasp facts and digest data is a real hindrance to the exchange of ideas here.

 

[Politico]

As an American, aren't you happy that jobless claims have dropped?

Do you want America to fail?

No because it just means more people have given up.

Except that number is DECLINING!!!!!!!
Minor detail!

Employment Situation Summary

Among the marginally attached, there were 676,000 discouraged workers in June, a
decrease of 351,000 from a year earlier. (The data are not seasonally adjusted.)
Discouraged workers are persons not currently looking for work because they believe
no jobs are available for them.

Yes eventually the number of people who give up result in lower numbers.

 

[zeke]

Great news, RW!
This must mean that we can now raise interest rates above inflation and end QE.....Yippee!!!

The lefties are bragging about how great the economy...
Wht aren't they pushing for cuts in food stamps?

The Dems have been pushing for a cut in food stamps. They call it an increase in the minimum wage. You know fool, so the worker CAN"T qualify for food stamps cause they make to much money to qualify.

Republicans won't hear of it. Much better to a Rethug to let the employer pay low wages and let the workers apply for and receive food stamps.