U.S. weekly jobless claims post largest drop in almost two years

[S.J.]

No, I didn't say or imply that they wouldn't TAKE a jog if one was available...

I think you were implying just that.

But since they're not looking for a job, how do you think they would be offered one?

Anyone who is aware they are not working?

 

[Old Rocks]

U.S. hiring slowed sharply in March, adding just 98,000 new jobs
It is the fewest jobs added in a year but the unemployment rate fell to 4.5 percent.

U.S. hiring slowed sharply in March, adding just 98,000 new jobs - Portland Press Herald

Oops! LOL

 

[Luddly Neddite]

I'd be curious to compare the drop in illegal immigration with this.

Well yeah cuz everybody knows they take jobs away from Americans. That means unemployment will get less and less every month.

Truth is, unemployment start going back up now. Mathis is just first month of many.


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[Luddly Neddite]

This, even before the tax break to businesses, the border tariff AND the renegotiation of NAFTA has been concluded.

It's the economy stupid! Get 'er done Trump! Bring back jobs, punish those nations who abuse American free markets (there are many) and let's Libertarian economic values return to the U.S

U.S. weekly jobless claims post largest drop in almost two years


New applications for U.S. unemployment benefits recorded their biggest drop in nearly two years last week, pointing to a further tightening in the labor market.

Initial claims for state unemployment benefits declined 25,000 to a seasonally adjusted 234,000 for the week ended April 1, the Labor Department said on Thursday. The drop was the largest since the week ending April 25, 2015, and unwound recent increases that had lifted claims to a three-month high.

"The lower jobless claims filings show the economy continues to show improvement which is important news with the long expansion expected to eventually tire somewhere down the line given its longevity," said Chris Rupkey, chief economist at MUFG Union Bank in New York.

The unemployment rate is insanely high under Trump at somewhere around 40%. Worst president ever.

Sorry but we already had the two worst presidents ever.

Carter and Obama.

Unemployment went way down under both and went down under Clinton. It went back up under Repub presidents.

That's the way it always is. The cheeto lie and you fools will lie for him this is just the first months of many to come.


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[DrainBamage]

You claimed the economy has been picking up since 2009. It has not. You're going to great lengths to save face but it isn't working.

Why would I need to save face, I'm the one in here calling you on your bullshit. The economy has been picking up, you just deny it using the tool of those with no basis for their argument... it's all lies. Liberal mainstream media is lying about job numbers, lying about GDP expanding, lying about the stock market, lies lies it's all lies.

Meanwhile the rest of us who don't dedicate our lives to a narrow minded path of towing the party line don't need to invent media conspiracies and selectively accept facts, we'll leave that to you and your rich imagination.

The reason the economy is doing well now is because we no longer have a socialist as president. Your ramblings reflect your desperation to justify your denial of reality, which is that Trump is a positive force for the economy and Obama was not.

Yep, the economy is doing well. I know this from macroeconomic data that you dismiss as lies because it doesn't jibe with your worldview.

You, meanwhile, are using your only source as... you. The same idiot who predicted Obama would serve a third term.

 

[S.J.]

Why would I need to save face, I'm the one in here calling you on your bullshit. The economy has been picking up, you just deny it using the tool of those with no basis for their argument... it's all lies.

What did I say, asshole? I said the economy is picking up. And it is, since Trump took office. Our GDP never performed above 3% the whole time Obama was president. Show me otherwise, fucker.

 

[Moonglow]

Hah hah this is great!

One year ago it would have been a lefty posting this, with a bunch of righties saying they are fake job numbers since Obama sucks. Now we have this posted by righties, and a lefty has already weighed in calling them phony numbers.

It's a common denominator..

 

[Picaro]

I'd be curious to compare the drop in illegal immigration with this.

25,000 isn't a big number anyway; construction picking up a little in some states, like Texas, and a new boom in the Permian Basin, a few thousand more people reach the end of their bennies and get dropped from the rolls, a few thousand do indeed get jobs with some company hiring seasonally, etc. It's only about 500 per state, not a reason to run out and celebrate. It will take time to get many jobs moving back here, and still no brake on green cards yet, unless I missed a story the last couple of weeks. Are they still counting part time workers in the stats?

 

[DrainBamage]

What did I say, asshole? I said the economy is picking up. And it is, since Trump took office. Our GDP never performed above 3% the whole time Obama was president. Show me otherwise, fucker.

GDP in 2009: 14.3 trillion
GDP at start of 2017: 18.9 trillion

A rising GDP is the sign of an expanding economy. There is no barometer in economic studies saying a growth rate under 3% is not growth or not an improving economy, that appears to be something you're fixated on to paint the picture you want.

You want inflation adjustment?
Real GDP in 2009: 14.3 trillion
Real GDP in Q3 2016: 16.7 trillion.

Obviously GDP grew in inflation adjusted dollars as well. GDP growth = expanding economy. Let's look at unemployment.

Unemployment rate in 2009: 10%
Unemployment rate today: 4.5%

An unemployment rate that shrinks by more than 50% is the sign of an improving economy. You want U-6 instead?

U-6 Unemployment rate in 2009: 17%
U-6 Unemployment rate today: 8.9%

Earlier you made some claim implying most jobs added were part time min wage types, so let's take a look at part time for economic reasons.

PTER in 2009: 9 million
PTER today: 5.5 million

Oops. There are far fewer people working part time that want to be full timers, that is the sign of an improving economy. What do all these people with jobs do? Spend money! Here is consumer spending in constant dollars:

Real consumer spending 2009: 9.8 trillion
Real consumer spending today: 11.7 trillion

Oh but they are just going into debt to survive! No they aren't. Take a look at household debt service as a percentage of income*:

2009: 12%
2017: 10%
*source = Household Debt Service Payments as a Percent of Disposable Personal Income

Spending drives the US economy, and steadily increasing consumer spending goes hand-in-hand with all these other macroeconomic indicators, a sign of an improving economy. People spend more when they feel confident in their financial situation. UM consumer confidence index:

Consumer confidence 2009: as low as 56.3
Consumer confidence today: 96.3

Bottom line = you can do all the hand waving you want trying to paint the economy as bad until exactly when your hero took office, but anyone with half a brain can see that the US economy did a slow steady improvement from the depths of the recession. You hate this because your hyperpartisan mindset can only view the world in black and white where the enemy political side only produces bad results and your heroes turn things around like flipping a switch.