Jobless Claims in U.S. Fall More Than Forecast - 409,000 Weekly 1st Time Claims

Ahead of the Bell: Weekly First Time Unemployment Claims drop to 420,000
Fewer people likely applied for unemployment benefits last week for the second straight week, suggesting that a slow recovery in the job market is continuing.

Economists forecast that 420,000 laid-off workers applied for unemployment benefits last week, according to a FactSet survey. That would be a drop of 14,000 from the previous week.

The report is scheduled to be released by the Labor Department at 8:30 a.m.

http://tinyurl.com/5vmyrgx

Like 420,000 is a good thing. Please. 10 to 1 last week was revised up just like the weeks before that but there will be barely a mention of it on MSM.

Fewer Americans than forecast filed applications for unemployment benefits last week, making it more likely that the surge in April was caused by temporary events rather than a deterioration in the labor market.

Jobless claims declined by 29,000 to 409,000 in the week ended May 14, Labor Department figures showed today in Washington. The median estimate of economists in a Bloomberg News survey called for a drop to 420,000. The number of applications were the lowest in a month.

http://tinyurl.com/5ugpq6q

Abbie, you took the words right out of my mouth. When the initial claims are 29000, that would be something to celebrate.

Nothing more than saying this very tiny number is something to throw a party over. Using numbers to somehow spin the sheep to believe it's a POSITIVE. SMOKE AND MIRRORS.

Nuts!! ...

DesperateInRI wrote:
Ahead of the Bell: Weekly First Time Unemployment Claims drop to 420,000
Fewer people likely applied for unemployment benefits last week for the second straight week, suggesting that a slow recovery in the job market is continuing.

Economists forecast that 420,000 laid-off workers applied for unemployment benefits last week, according to a FactSet survey. That would be a drop of 14,000 from the previous week.

The report is scheduled to be released by the Labor Department at 8:30 a.m.

http://tinyurl.com/5vmyrgx

Yes, but Desperate you may recall one week in March or April the actual SA was 470,000 (this was a pivotal week for Wall Street) and they misreported the initial claims as 430,000. How could they be 40,000 short. They lie when it benefits them and right now it is always beneficial for them to lie. This is still around the 8 or 9 week we have been over the 400,000 threshold on initial claims, which means instability, but nobody reports that either because it is not the best of indicators, when it hit 600,000 like last year, they will be screaming. I have to tell you PA is at 7.8% but will not report April until June 1st, I suppose that is when they will vote on the look back, but here in Philly it is over 10% and there is not one job to be had. They just want this to disappear. Further, when we are talking about 10's of millions out of work, why are they talking about -14,000 less initial claims. They ought to get real. We are not going to let them take us down. Dazed

This is their wording, everything is revised. How do we know each states unemployment rate was not revised, because the revisions are so often, I don't think they can keep track of it. Also, they don't include anybody in the SA unemployment rate, its all lies.

In the week ending May 14, the advance figure for seasonally adjusted initial claims was 409,000, a decrease of 29,000 from the previous week's revised figure of 438,000. The 4-week moving average was 439,000, an increase of 1,250 from the previous week's revised average of 437,750.

The advance seasonally adjusted insured unemployment rate was 3.0 percent for the week ending May 7, unchanged from the prior week's unrevised rate of 3.0 percent.

The advance number for seasonally adjusted insured unemployment during the week ending May 7 was 3,711,000, a decrease of 81,000 from the preceding week's revised level of 3,792,000. The 4-week moving average was 3,728,250, an increase of 750 from the preceding week's revised average of 3,727,500.

I counted "revised" 7 times. Why don't they wait until it get revised.

only 409,000 I guess we should party...

Dazed&Confused wrote:
I counted "revised" 7 times. Why don't they wait until it get revised.

Because they want to confuse everyone. If they gave a straight answer, people would catch on that something isn't right. The economy is not as great as they are led to believe.

I have to add something ... today I was in a class and the Prof said she had "JUST" heard that employers were not hiring people that have been out of work for a long time... I jumped out of my seat and went off.. I could not believe this person who is educated was so so so REPUBLICIAN... Best word I could come up with.maybe..uniformed.... I give up...