Fewest Americans in 7 years seek unemployment aid

[Omaha Steve]

Source: AP-EXCITE

By CHRISTOPHER S. RUGABER

WASHINGTON (AP) — The number of people seeking U.S. unemployment benefits fell to the lowest level in seven years last week, a sign the job market is steadily improving.

Weekly unemployment benefit applications dropped 24,000 to 297,000, the Labor Department said Thursday. That's the fewest since May 12, 2007. The four week average, a less volatile measure, dipped 2,000 to 323,250.

Applications are a proxy for layoffs, so the decline is evidence that employers are cutting fewer jobs. Weekly applications topped 650,000 in March 2009, during the Great Recession.

Fewer people are also receiving benefits each week. The number of recipients fell to 2.67 million, the fewest since Dec. 1, 2007, when the recession began.

FULL story t link.


Read more: http://apnews.excite.com/article/20140515/unemployment_benefits-999e5f988c.html

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In this April 23, 2014 photo, Davon Tremble, of Detroit, fills out an application at a job fair at the Matrix Center in Detroit. The Labor Department reports the number of people who applied for unemployment benefits last week on Thursday, May 15, 2014. (AP Photo/The Detroit News, David Coates)

[Swede Atlanta]

1. Obama - cooking the books again.......

Sarcasm.....but that is what FauxSnooze, Rush, Insanity, SheMale Coulter, etc. will be saying.

They will say that Obama is cooking the books to make it look like the economy is better than it really is.

[uberblonde]

2. I wouldn't be too happy just yet...

The fact is that a lot of "employment" since the 2008 crash are contract jobs, and therefore not eligible for unemployment benefits!

[okaawhatever]

3. Great news. Unemployment goes down a little more and workers will be able to demand higher

wages. Can't wait.

[1000words]

4. It'll be swell! It'll be great ...

[onehandle]

5. A victim of the GOP cutting off long term unemployed threatening Boehner is a sign too.

http://www.democraticunderground.com/1014800673

[Ash_F]

7. Whoohoo all these $8/hr jobs! /nt

[DylanRob]

8. Let's get real people...

I hate to be the bearer of bad news, but this little article doesn't begin to explain what is really going on. First off, almost a quarter of the unemployed have been out of work for more than 27 weeks which means they are already getting benefits and thus, not applying for new benefits. This according to the Congressional Budget Office.

Jobs are vanishing all the time & this administration is doing nothing to stop the trend or boost incomes above where they were in 2009, which was $4000 more per household.

[arcane1]

10. If only the administration was doing something to "boost incomes above where they were in 2009"

Like calling for an increase in the minimum wage, for example. I'd support that!

[Le Taz Hot]

13. You are the bearer of reality news.

Not to mention that so many of those who were able to gain employment are at or barely above minimum wage and, therefore, must work 2 and 3 part-time jobs to stay afloat. And virtually none of those jobs have benefits. The Official unemployment figures come from the Labor Department which gets most of their figures from the Census Bureau's American Community Survey.

Oh, and welcome to DU from a fan of The Truth.

[LordGlenconner]

35. "I hate to be the bearer of bad news"

Righhhhhhhhhhhhhhhht.

[Munificence]

9. Good times!

This is great news, we have recovered, everything is roses!

Oh wait....so when the last jobs leave we can say "Look at how well we are doing, last month we only had a single person file for unemployment"....

In the Big Rock Candy Mountains
You never change your socks
And little streams of lemonade
Come a-tricklin' down the rocks
The hobos there are friendly
And their fires all burn bright
There's a lake of stew and soda, too
You can paddle all around 'em in a big canoe
In the Big Rock Candy Mountains.

[Thor_MN]

19. Lemonade? Soda?

Must be like the broadcast version of Fargo. "You have to be frozen kidding me."

[tabasco]

11. I just knew this would be BAD NEWS on DU

Unfuckingbelievable.

[Jesus Malverde]

12. It's always been a game, it's not just this administration.

The fact that the unemployment extension failed to pass, meant that 1.3 million long-term unemployed suddenly were no longer considered "unemployed" they were moved into a category called discouraged workers (the U-6 rate). Essentially they are considered no longer part of the workforce. The unemployment "rate" has always been a game and doesn't reflect reality.

Why The 'Real' Unemployment Rate Is Higher Than You Think
http://www.forbes.com/sites/dandiamond/2013/07/05/why-the-real-unemployment-rate-is-higher-than-you-think/



http://www.shadowstats.com/alternate_data/unemployment-charts

[taught_me_patience]

25. These are new claims

The chart you are citing and your entire comment has nothing to do with new unemployment claims.

[Jesus Malverde]

27. Your not much for statistics are you

My comment is about the unemployment rate, and how it's manipulated.

[taught_me_patience]

33. The OP is about new unemployement claims

and your post is about the unemployment rate. It has no bearing or relevance to the discussion.

[Le Taz Hot]

14. Oh FFS,

No one said this was "bad news," it's just not ALL the news. New Unemployment Insurance filings are NOT the unemployment figures, the only thing they reflect is those filing new unemployment claims. That's it. It has virtually nothing to do with ACTUAL unemployment. See the post above this one, it gives more of a realistic version of the true unemployment figures.

[thecrow]

15. I can't comment on this

because I am just someone who needs to sit down and shut up.
I haven't worked since December 28, 2008. Before that, I had a 47 year stretch where I had NO PROBLEM getting a job.
I received the max weeks of unemployment, am holding out by living off my savings and the good graces of my boyfriend. My parents are gone now, so I'm using my " inheritance" as well, hoping to make it a couple more years so I can retire on SS, unless the republicants take that away.
I know there are others who are hopelessly poor from this; I am lucky to still have my house.
These should have been the years where everything I made got put into retirement savings.

I can't comment because my voice has gone silent in the press, and it makes the rest of the nation very uncomfortable. They don't even ask about me and my plight anywhere anymore.
There are millions of us out here.

[flpoljunkie]

16. You did and it was a powerful statement.

Republicans continue to block any extension of unemployment benefits and the media has failed you. No surprise there. I wish it were not so.

[Munificence]

20. Wow

Can't believe you lay no blame on our current administration.

Media, republicans?

Yeah right, our our money went to bailing out banks and where are those "shovel ready jobs" that was pushed along with hope to get elected? 5 fucking years.... 5 years and nothing but crickets. However we can print $84 billion a month in QE to bail out the banks and run up the stock market and all you can say is "republicans and the media has failed you"?

It's been 5 years of a train wreck when it comes to anything concerned with jobs. 5 years and you still tow the line? I'm more of a realist, especially since we were in control the 1st 2 years. But I guess we wanted to play nice, that is the reason nothing was done....I'm sure there are 50 other bullshit excuses that one could come up with besides for the truth.

5 FUCKING YEARS!

[thecrow]

21. " our our money went to bailing out banks"

..and who set that all up?
Oh yeah, that painter guy who used to be pResident, and his ilk.
Yeah I blame them.

You know, the party that's all about jobs jobs jobs... starts with an r...?
Don't come on here defending them to me.

[Munificence]

22. An honest question

Last edited Mon May 19, 2014, 05:59 PM - Edit history (2)

Do you even realize the bailout that is still going on with QE/Zirp? Do you realize who implemented those?

Can I assume that since it's not called a "bailout" that you missed them under this administration?

We have done diddly shit for jobs over 5 years, if you think that is exclusively an "r" talking point then you should look around as I feel you are confused. Look up QE and understand it for what it is.....it was totally different than tarp but it all went to the same damn place.

3 bailouts now and not a damn one for the masses.

QE 1 came a the end of Bush's term but under Obama really, I can blame that on the "r's". QE2 came under Obama in 2010. QE3 was implemented in 2012 under our administration.....do you realize that these all went to the banks and still continue to?

Do you realize that QE3 that was implemented in 2012 got as high as $85 Billion a month for damn near a year? Do you realize that this bailout that started in the Fall/Winter of 2012 is estimated to date to be a $1.6 trillion dollar bailout and still continues to this day with no end in sight?

From my understanding the numbers are as follows:

2008 QE1 - $1.4 trillion
2010 QE2 - $600 billion
2012 QE3 - $1.6 trillion
2013 QE4 + Operation "Twist" - still going strong, who knows how much it is, however they did cut it from $85 billion a month down to the $55 billion a month recently.

That's nearly $4 trillion in bailouts and since the 1st one started in 2009....and guess what, that money has not trickled down, it has gone to the 1%ers, not you and I. Do you realize that based on population we have spent roughly $3000 for every person in the U.S in multiple bailouts? I know it damn sure would have been nice for the masses to get...hell I have 6 in my family, I would have welcomed an $18K check for my families share.

And since you have blamed the 1st bailout on the "r's" then you gotta step around the fact that the bailout of GM and Chrysler was a "r" program and we can not take credit for it? We can't have it both ways.

[taught_me_patience]

24. Step away from Zerohedge and chill

QE has been a benefit to the economy and has trickled down to many middle class families. It has lowered mortgage rate for many to refinance and to purchase homes. It has caused a housing market rebound that had benefited many middle class families.

[Munificence]

28. Yeah and it's hidden

tax on all of us that due to money supply increase. And at the same time wages have gone down so it's a double hit on the working class.

Do some research on who have been buying homes - cash buyers and the "upper class". Yep QE damn sure helped out all the unemployed folks buy a new house. I am sure they appreciate it....because as we know they are running out and buying new homes hand over fist.

There is a reason why "maybe 10 people" post in the economy section here each day, most are either clueless and really don't understand it or they really don't want to talk about it.

What would you like for me to say....That the amount of wealth transfer to the top 1% over the past 5-6 years through QE has been a thing of beauty and we should cheer?

When will we ever be pro-active vs reactive?

It has caused a housing market rebound? I could argue that the supposed housing market rebound was caused by cash buyers over the past 3-4 years.

Maybe we should have bailed out the bottom and let the money "trickle up".

So you are agreeing the the Bush administration in the policies that they set forth? I mean the poster I responded to earlier blamed it all on them and you are saying in essence that they initiated a great program and should be commended? Why should 2 people that seek the same cause end up with totally different conclusions?

I guess the long term unemployed and the workers that are discouraged should just set down and shut up as they have been helped immensely and just don't understand how much they have benefited.....I'd never tell them that as I'd be in fear of getting punched in the nose.

[thecrow]

34. I see six questions in there

and eight edits...
just spit it out already.

Why do you assume I am confused? How dare you? You never met me.

Whose side are you on? Republics? Democrats? Someotherparty?
What are *you* gonna do about it?

[Munificence]

36. So you are the

"Edit police" now?

Stick to the argument, why try and say "spit it out" OH look he has "8 Edits"?

I do assume you are confused as you blamed everything on the "r" and lay no blame on anywhere else.

Do I have to pick a side when it comes to real numbers? So if the numbers were bad for our side you are saying that you could not mention them and be all "hush hush". You blamed the "r"'s for the bailout and had no clue that we are still bailing out Obama has enacted 3 more since the 1st.

Towing the line and you are unemployed and instead of asking for an extension why are you not screaming "Where the hell are the jobs" as if the jobs were here you would not need an unemployment extension. So let's keep arguing over extensions instead of JOBS.

If you think any of these fuckers in the political system care about you and unemployment then you are confused.

What I am gonna do about it? I guess I am gonna try and convince folks like you that you should be screaming "Where in the Fuck are the jobs" vs "Where is my extension".

[thecrow]

37. You have no clue what I do or do not have a clue about.

I responded to the OP and suddenly I am accused by you, a stranger to me, of all sorts of things.

You just sound very angry at everyone and I'm sure that I'm not the cause of it... but certainly something is.
We are all angry at someone or something and the economy has everyone on edge.
Maybe you should also post your issues in the Economy Forum?

I have a broad range of issues which concern me; some give me joy, others cut me to the bone.
Some of us have learned to deal with it in a less confrontational manner.

You seem to blame the Dems, I blame the Republics (only as it relates to what my situation was in 2008), somebody else may blame another or both or all, I don't care. Blame who you want. We all have those choices.

I am not "'screaming"' for any unemployment extension. You are confused about that.
But then, you don't know me and therefore are making broad assumptions regarding what I do or do not have a clue about.
And to that, I say Pfffft.


Haha ..edit police. Really? I'm actually more of a spelling police kind of person. 8 is a bit much, though.

[thecrow]

23. thank you for saying that

[2naSalit]

26. THat's the big ugly elephant in the room here

They are looking at the small number of people applying for UI benefits, not those of us who were cut off by Congress, have been cut off by the state because we didn't have enough work the year prior to keep receiving benefits or those who just aren't in the "system" any longer for reasons like yours.

The game is rigged and the data are skewed.

[thecrow]

29. Exactly.

So now if they want to cut off our SS or give us vouchers instead of Medicare,
we are greatly weakened to do anything about it.

[2naSalit]

31. And that

is one of the mechanisms in use today. Another I think one of the main reasons for not continuing long-term UI benefits is to make it harder for those on the margin to not be able to pay for their health ins. and other necessities forcing we the little people to become starvation level hungry so that we will take whatever crumbs they throw us and not ask for more.

[philosslayer]

30. Aren't you eligible for SS now?

If you worked for 47 years, assuming you started at 15, you would now be 62. Can't you get SS now?

[thecrow]

32. Yes but it would be a reduced amount

compared to if I waited til full retirement age.

[Agschmid]

18. You are a news addict.