Unemployment claims drop for 4th time in 5 weeks

[mahatmakanejeeves]

Source: Associated Press

WASHINGTON — Applications for unemployment benefits fell last week for the fourth time in five weeks, a sign that layoffs are declining.

The Labor Department says initial claims for jobless aid dropped by 11,000 to a seasonally adjusted 445,000. It's the lowest level since the week ending July 10. Wall Street analysts had expected a small increase.

Weekly applications have rarely fallen below 450,000 this year, and never for longer than two weeks. Economists say that a sustained drop below 425,000 would signal employers are stepping up hiring.

The four-week average of new claims, a less volatile measure, dropped to 455,750, the sixth straight decline.

Read more: http://www.google.com/hostednews/ap/article/ALeqM5gNiyJ905Ho0Ur96V2TQhsBX19lGwD9IMRSB01?docId=D9IMRSB01

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Check here for the complete data. They have not been posted yet.

Bureau of Labor Statistics

Not to be overlooked:

Jobless Claims Drop

By SARAH N. LYNCH And JEFFREY SPARSHOTT

In a good sign for the job market, the number of U.S. workers filing new claims for jobless benefits unexpectedly fell last week to their lowest level since July 10.

Initial unemployment claims dropped by 11,000 to 445,000 in the week ended Oct. 2, the Labor Department said in its weekly report Thursday. New claims for the previous week, ended Sept. 25, were revised upward slightly to 456,000 from 453,000.

Economists polled by Dow Jones Newswires had predicted new claims would rise by 2,000.
....

Although claims fell last week, the number of people filing for jobless benefits and the unemployment rate still remain high amid weak economic growth.

The high jobless rate is curtailing spending -- data Monday showed that pending sales of previously owned U.S. homes is slowly stabilizing, but remain well below figures from a year ago.

[Kingofalldems]

1. K and R for the Teabag crowd

[DavidDvorkin]

2. Since I still don't have a permanent job, these numbers are clearly rubbish

and a fraud and and ...

[Amonester]

3. Hiring... part-time... famine-level pay checks

And they call that good news...
Imagine that.

Wonder how the bad news will look (and feel) like...
When they'll hit (US). Although, for too many, they already did.

They Don't Care.

[TheWatcher]

4. Last week's Numbers Revised Upaward as usual. Continuing Claims Increase.

The Shell Game continues.

[Viva_La_Revolution]

5. bull! didn't ADP just report -35,000?

they never tell us how many dropped off the other end (benefits ran out)

[totodeinhere]

6. Gallup Finds U.S. Unemployment at 10.1% in September

http://www.gallup.com/poll/143426/Gallup-Finds-Unemployment-September.aspx

According to this poll, the government is grossly underestimating the unemployment rate. Frankly, I do not trust any government statistics anymore.

[atomic-fly]

7. mine ran out....

I had to take a job for a fraction of my wage, but am glad to be doing something.
It's hard work, but I like the people I work with. Everyone works together.
I cannot make it on these wages for long, so I still need a real full time job.

I found that since I was unemployed no one would hire me, so I hope that since I
am working now, they will at least consider me.

Under Employed still.

[Demit]

8. I think if I saw a crowd of 456,000 people, and a crowd of 445,000 people,

I wouldn't be able to tell the difference.

And a crowd this size every week is a 'good sign for the job market' how?

[Mickeyc1004]

9. Well I did get a job!

I was on unemployment for a long time, but I not only finally got a job, but a couple weeks after, I received two more calls for employment, and one employer called me twice because I didn't return their call.


They said, "they thought I was a great candidate and wanted to know either way whether or not I was still available".

Just my two cents!

By the way, I still had unemployment benefits left, and I'm very glad the numbers are lower and some people like me are finding jobs.