Jobless claims hold steady at 4-year low

[Eugene]

Source: Reuters

Jobless claims hold steady at 4-year low

WASHINGTON | Thu Feb 23, 2012 8:34am EST

(Reuters) - New claims for unemployment benefits were unchanged last week, holding at the lowest level since the early days of the 2007-2009 recession and giving a fresh sign the battered labor market is healing.

Workers filed 351,000 initial claims for state unemployment benefits, the Labor Department said on Thursday. The prior week's figure was revised up to 351,000 from the previously reported 348,000.

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Read more: http://www.reuters.com/article/2012/02/23/us-usa-economy-idUSTRE7BM0AB20120223

[Po_d Mainiac]

1. or

[CAPHAVOC]

2. Rock Bottom

[Po_d Mainiac]

3. With seasonally adjusted rocks added for flavor. n/t

[dmallind]

6. Funny - seasonal adjustment INcreased this week's claims.

[fasttense]

4. I'm surprised anyone has unemployment benefits left to use.n/t

[dmallind]

7. inadvertent dupe - sorry

[dmallind]

8. Which would of course be irrelevant to initial claims even if true.

[fasttense]

9. Total number of people claiming benefits in all programs week ending February 4 was 7,502,791

No it is very relevant because initial claims are NOT claims filed for the 1st time in the individual's life. They are merely the claims people file for the 1st time after being laid off from a job. As you can see it is different from total claims but is NOT simply claims made for the first time in the person's life.

Once you use your UI all up, you have to earn them back each quarter by being employed in a job that is covered by UI. But you can use some of your UI now and some a year from now and some 3 years from now if you keep losing jobs that are covered by UI.

So when this 2nd RepubliCON Great Depression started, you could have been kicked out of your job, used all your UI benefits, got a job and lost it again. The 2nd time you file will again be considered initial because you had stopped your UI and found a job in between. See how it works?

Now if you had used up all your UI the 1st time you lost your job, then you may not have enough benefits left for the 2nd time you lose your job.

So, again I say I’m surprised anyone has UI benefits remaining. My spouse has used up all his benefits and will probably never be eligible again because he can't find a job.

By the way a statement that says I’m surprised is always true unless you can read minds

[girl gone mad]

5. Worst. Recovery. Ever.

[eridani]

10. Welcome to the New Normal

Which is unacceptable, period.