Good news on unemployment claims

[MotleyCrew]

Our work has ticked up a tiny bit and I hope it continues upward. Enough pain and suffering.

[Gorfml]

so now republicans will forget about the economy and start focusing on social issues...which wont help them either. FAIL!...

[walidm]

Originally Posted by Chromekitty

Not good news, it is all fabricated. UE is not getting better, people are simply falling off of the rolls.

Unemployment fell in 74 of North Carolina's 100 counties, increased in 20 and remained the same in six - The state Division of Employment Security, Jan 4 2012

[pbells]

In order to keep up with population growth and new worker entries into the labor force, the economy needs to create about 250,000 jobs per month (about 7,000 more than were created in January)*

The number of people that are "not in the labor force" is approximately 88.7 million. That is a year-over-year increase of 2.7 million people. There were also year-over-year increases in every category listed (i.e. discouraged workers) except "persons who want a job". The number or people working 2 jobs (both 1 full and 1 part time or 2 part time) also had big year-over-year increases.*http://www.bls.gov/news.release/empsit.t16.htm* (broken link)

According to the Bureau of Labor Statistics, the labor force participation rate fell to 63.7%, which is lower than the previous month's 64%, which was the lowest since the early 80's.*Bureau of Labor Statistics Data

Much of this decline in unemployment is due to a "seasonal adjustment" that took a month-over-month increase in literally every category of the number of unemployed (based on the amount of time they have been unemployed) and turned them to a decrease.*http://www.bls.gov/news.release/empsit.t12.htm* (broken link)

I think you will continue to see a decline in unemployment throughout the year due in large part to a large number of people not being counted any longer. This will not, however, reflect the real unemployment picture.

[Winter_Sucks]

Originally Posted by Chromekitty

Not good news, it is all fabricated. UE is not getting better, people are simply falling off of the rolls.

Less people are being fired and filing unemployment. Please try to understand what you are talking about if you feel the need to comment about a subject. Thank you.

[Lithium]

Is there any point to bringing this up anymore? It doesn't matter what happens. There's always going to be an excuse. There's always going to be some narrative they come up with. It's always going to be called a lie, made up by the boogeyman "mainstream" media. When Obama wins this year, and things start to really improve, they'll just say it was the Republicans in Congress. It's hopeless to even bother with these statistics...

[Mircea]

UNADJUSTED DATA

The advance number of actual initial claims under state programs, unadjusted, totaled 361,928 in the week ending February 11, a decrease of 39,328 from the previous week. There were 424,400 initial claims in the comparable week in 2011.



The advance unadjusted insured unemployment rate was 3.1 percent during the week ending February 4, a decrease of 0.1 percentage point from the prior week's unrevised rate. The advance unadjusted number for persons claiming UI benefits in state programs totaled 3,964,007, a decrease of 133,493 from the preceding week. A year earlier, the rate was 3.6 percent and the volume was 4,575,640.

ETA Press Release: Unemployment Insurance Weekly Claims Report (http://www.dol.gov/opa/media/press/eta/ui/current.htm - broken link)

I highlighted the important parts for the economically challenged.


Number of foreclosed homes climbed in January
Number of foreclosed homes climbed in January - Yahoo! Finance

Moody's May Downgrade 17 Banks, Securities Firms

News Headlines (http://www.cnbc.com/id/46404936 - broken link)

Social Security Is Failing Even Faster Than We Thought

Social Security Is Failing Even Faster Than We Thought - DailyFinance

The only thing that is happening here is that the pace of job losses has slowed, which is something I told you would happen, because, well, that's what happens. It doesn't mean the economy is improving, it merely means it coming to some sort of equilibrium.

Unfortunately for you all, that equilibrium means that presently, 5.4 Million Americans are now and forever permanently unemployed.

Why is that a problem? Social Security and Medicare. You need those 5.4 Million to work, and you need to get at least 8 Million of the 14 Million unemployed back to work in addition to the 5.4 Million who were cast out, even more so, since they'll be working at lower wages.

Economically...

Mircea

[walidm]

Thus far nothing from the doom and gloom I told you so crowd is going as planned or prognosticated.