Jobless Claims Plummet on Better Weather

[rodbarnett]

WASHINGTON (Reuters) - The number of Americans lining up for an initial week of jobless benefits took an unexpectedly sharp tumble last week from a level elevated by cold weather, a government report showed on Thursday.

First-time claims for state unemployment aid dropped 24,000 to 344,000 in the week ended Feb. 14 from a revised 368,000 the previous week, the Labor Department said.

The drop was the largest since the week ended Nov. 1 and was greater than economist on Wall Street had expected. Markets had looked for claims to fall to 353,000 from the 363,000 originally reported for the prior week.

http://news.myway.com/top/article/id/63342|top|02-19-2004::09:15|reuters.html

[mhr]

1. So, If The Weather Is Good People Don't File For Unemployment?

eom

[OhioDem]

4. Seasonal effect-no long term impact

This drop, when compared to analogous monthly changes in years when the economy was healthier, is not significant.
It is caused by construction and other seasonal trades
being able to get back to work. Do not be fooled by this.
Also, a decrease in the rate of new unemployment is not the same as
an increase in new jobs. It simply means the economic decay process is slowing down.
What new jobs will be created this year will in no way make up for the better jobs that were lost to outsourcing by unpatriotic corporation-before-country boardroom denizens.

[On the Road]

7. Seasonal? Aren't the Numbers Seasonally Adjusted?

Or do they just use the set of numbers that look most optimistic?

[spinbaby]

2. Weather?

People don't look for jobs in bad weather?
Companies don't hire in bad weather?
Now that the weather is better, we can all get jobs as migrant farm workers?

[trotsky]

3. Roughly 2.5% less, and that's called plummeting?

Plenty of puppy dog press still out there for *.

[underpants]

5. Not a dupe different source-some posts here

http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=102&topic_id=373035

[NeoConsSuck]

6. Then we should pray for Global Warming? (nt)

[seasat]

8. The weather issue is a pet peeve of mine.

I'm sure that weather is a factor but it seems like half of all the economic statistics stories blame the weather. I guess that is because like the weather economics is hard to predict. ;)
I mean, when you see recent stories where they blame slow retail sales on winter storm weather then turn around and credit increased retail sales on purchases of winter goods, it makes you wonder if they are just pulling those explanations out of their nether regions.

[justinpower]

9. People can drop their mortgages

and live in tents and boxes and whatnot.