Jobless Claims Drop More Than Expected

[steve2470]

http://www.reuters.com/newsArticle.jhtml?type=domesticNews&storyID=6569931

or

http://tinyurl.com/53pwh

WASHINGTON (Reuters) - The number of people filing an initial claim for U.S. jobless aid fell by a larger-than-expected 25,000 last week, the government said on Thursday in a report seen as a good sign for job growth.

First-time claims for state unemployment insurance benefits fell to 329,000 in the week ended Oct. 16 from a revised 354,000 in the prior week, the Labor Department said.

The price of Treasury bonds ticked down after the report, though the benchmark 10-year yield was at a six-month low on the back of continuing concerns about oil prices weakening the economy.

<snip>

[Burma Jones]

1. Last week was a four day week...............n/t

[Tempest]

4. And there were the hurricanes

CBSMarketwatch has an article which says not to take any stock in this report.

They still believe the job situation is pathetic.

[trotsky]

2. Wow so they've ALMOST staunched the bleeding, huh?

The "good news" is that we didn't lose quite as many jobs last week as we did the week before?

The * admin will grasp at any figures to try and demonstrate they've been nothing but failures at creating jobs.

[atreides1]

3. But

Let's wait and see what happens in a few weeks, we all know that the Labor Department loves moving the numbers to make Shrub look better.

[Robert Oak]

5. propaganda alert

The key number is the jobs created, not the number of jobless claims.

Last count I found, 43% of people who received UI ran out of benefits
and couldn't get a job.

[Moderator]

6. Duplicate

http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=102&topic_id=921168


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