Jobless claims slide to near 15-month low

[jefferson_dem]

Jobless claims slide to near 15-month low
Number of initial filers for unemployment insurance falls to 457,000, lowest level since September 2008.

NEW YORK (CNNMoney.com) -- The number of first-time filers for unemployment insurance fell last week to a nearly 15-month low, according to a government report released Wednesday.

There were 457,000 initial jobless claims filed in the week ended Nov. 28, down 5,000 from a revised 462,000 the previous week, the Labor Department said.

That's the lowest level since the week ended Sept. 6, 2008. The week being reported included the Thanksgiving holiday.

A consensus estimate of economists surveyed by Briefing.com expected 480,000 new claims for the week.

The 4-week moving average of initial claims was 481,250, down 14,250 from the previous week.

<SNIP>

http://money.cnn.com/2009/12/03/news/economy/jobless_claims/index.htm

[NJmaverick]

1. That is certainly good news

[ClarkUSA]

23. Yes, it is.

:)

[AlinPA]

2. Around 380K-400K jobless claims is said to be break-even, the point at which

jobs start to be created.

[Clio the Leo]

8. And this article says numbers dont even have to be that low...

Many economists say that claims need to fall to about 425,000 for at least a month to signal that employers are adding jobs.

http://news.yahoo.com/s/ap/20091203/ap_on_bi_go_ec_fi/us_jobless_claims

[Peacetrain]

3. That is very good news...

[DCBob]

4. But this is not good enough for the clueless instant-gratification, fix-it-now, Obama haters.

Frankly I am amazed how quickly the job situation is turning around. Most economists thought the unemployment numbers would get much uglier before improving by mid-next year.

[ShortnFiery]

Yes, and it's not good enough for many people who are out of a job.

Where are these TO BE CREATED jobs going to come from?

That's cool - keep telling us "Everything is Fine" when we no longer have an manufacturing base.

That genius, GENIUS I tells ya! :evilgrin:

[jefferson_dem]

6. Two types of Debbie Downers will whine about this good news --

1. Right-wing haters who deny all positive signs of success and want Obama to fail.
2. Dogmatic "liberals" who are still waiting on their overnight pony delivery.

[phleshdef]

9. And closet racists that are butt hurt because the black man is running the show.

[mkultra]

15. +1 for your amazing clarity

this, in my opinion, the core motivator behind the downers. They armchair bigotry.

[DCBob]

22. and 3. Democrats in congress with no spine who fear a political backlash...

from conservatives in their districts/states.

[mkultra]

11. Oh yeah, your one of these people who think we dont manufacture anything

anymore. You guys are a hoot.

[DCBob]

12. I dont blame those unemployed for being impatient but this was/is a crisis..

We were heading for economic disaster that could have resulted in massive unemployment and homelessness and soup lines for millions. That has not happened and we are just now seeing some positive results. It will take many more months, probably years, to clean up the mess the previous administration left behind.

[dmallind]

14. We are the world's leading manufacturer and 3rd biggest exporter

Since when is "things are starting to get better" equivalent to "everything is fine"?

[karynnj]

16. No one is saying that everything is perfect

What people are saying is that there is the beginning of a turn around. Now, this was a very steep drop in the economy with many many people losing jobs over many many months. What people are speaking of here is the first sign of improvement on unemployment. There are fewer people losing jobs being added to that total. This is always the first thing that changes. If this number continues to fall and there are increases in new jobs, then you will see unemployed people getting jobs in greater number and the unemployment number will be reduced.

Some of the green jobs will be manufacturing jobs, but the US economy has not been primarily manufacturing for decades.

[DavidDvorkin]

21. I'm out of a job, but I still find this encouraging

When I had a job, I was worried by every bit of bad news and wondered if it was a sign my job would disappear (as it did).

Now I'm encouraged by every bit of good news, hoping it means a new job will appear for me.

I'm puzzled by the determination by many on DU to dismiss any signs of improvement.

[Cha]

27. Seems we have one down thread who isn't

as anal as you are.

He thinks it's a good sign even though he doesn't have a job. But, then he's into reality and doesn't spend his time shitting on positive threads.

[spiritual_gunfighter]

5. Great news

I am always wondering what people like John Boehner are smoking when they constantly say "the stimulus isnt working" on repeat.

[Clio the Leo]

7. A slightly more accurate description of time than the....

... "one year" that I read in another article. ;)

These guys think they're cute.

[Clio the Leo]

10. Another good article......

“The labor market is turning,” said Dean Maki, chief U.S. economist at Barclays Capital Inc. in New York. “We are set to break into positive job growth over the next few months. The recovery is proceeding on schedule.”

http://bloomberg.com/apps/news?pid=20601087&sid=abFlaFk27peA&pos=1

[Teaser]

13. This is actually really bad news

I am just waiting to figure out why it's really bad news. As soon as I do have a reason, I promise to post it. In all caps.

[Kdillard]

17. lol but seriously this is great news.

[Lochloosa]

18. +1

[impik]

20. :) Thanks for the first laugh i had around this

non-stop-gloomy place in a long time.

[ClarkUSA]

24. lol!

:rofl:

[DrToast]

26. This is really bad news...

...if you're a teabagger hoping to take back the House.

[ClarkUSA]

19. Great news. This notoriously lagging indicator is starting to turn around in states like Iowa.

K&R

[girl gone mad]

25. This report shows we are still losing jobs and emergency unemployment claims surged..

Emergency Unemployment Compensation skyrocketed by 265,300 in one week to an all time record of 3,859,553 for the week ending November 14, from 3,594,253 in the prior week. The chart below does the collapse a little more justice.

The EUC program was created on June 30, 2008, by the Supplemental Appropriations Act of 2008 (P.L. 110-252). It made up to 13 additional weeks of federally-funded unemployment benefits available to unemployed individuals nationwide who had already collected all regular state benefits for which they were eligible and who met other eligibility requirements.

On November 21, 2008, the Unemployment Compensation Extension Act of 2008 (P.L. 110-449) expanded EUC to 20 weeks nationwide and created a second tier of 13 more weeks of EUC for individuals in States with high unemployment rates.

On February 17, 2009, the President signed the American Recovery and Reinvestment Act of 2009 which extends the period of time during which claims for EUC can be filed and benefits paid.

For information about how to apply for EUC, please see the map below which provides links to the websites for each state agency administering the EUC program.