Jobless claims at lowest level since April '08

[ProSense]

Jobless claims at lowest level since April '08

By Steve Benen

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.



http://maddowblog.msnbc.msn.com/_news/2012/04/05/11034604-jobless-claims-at-lowest-level-since-april-08

[ProSense]

1. Kick! n/t

[jpak]

2. I call bullshit

Everyone knows unemployment claims are going UP not down.

Obama is lying to us again.

It's a conspiracy!!!!!11

Yup

[jschurchin]

3. The president controls unemployment???

I guess he controls oil prices also??
You republicans will never learn.

[ProSense]

4. That's a

The president controls unemployment???

I guess he controls oil prices also??
You republicans will never learn.

...bizarre comment, but then again so is this: http://www.democraticunderground.com/?com=view_post&forum=1014&pid=90586

[jpak]

5. The Evil Obama Controls All

please try to keep up

[Major Hogwash]

6. Because the socialist programs of the Communist in the White House don't work!

According to Sister Sarah's logic, as expressed on the Today show on Tuesday.