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Probably because those people ran out of extensions. It doesn't mean everyone is back to work. Go look at dailyjobcuts.com to see what is going on with jobs.
That was my question: How many of those who sat on unemployment for 99 weeks are able to make new claims?
you are correct that that stat is about INITIAL claims.... but remember a few things
to MAKE an INITIAL claim you must have been laid off, (not quit or fired for disciplinary actions).. you must have worked for the last 6 months.. and you MUST be actively seeking re-employment
last month so a dismal job increase of only 89k...down from the previous month of 119k...and down from last years better numbers of 200k+
and the job participation percentage has fallen again
so saying that INITIAL APPLICATIONS at 15 year low....not really a big headline once you dig a little
Have the rules for filing an initial claim changed significantly since the last time they were this low? No they haven't. These are initial claims so whether or not you continue to receive benefits because you are or not looking don't apply.
Actually job participation went up this last month. The LFPR has been relatively flat for the last 19 months which given the demographic pressures to drive it down is also a good sign. The LFPR first hit 62.8% in Oct 2013. This latest report again has it at 62.8%.
I am sure someone has beaten me to it, but unemployment is at a 15 year low because workforce participation is at a 36 year low.
Do not be foolish. A lower percentage of people are working now than at any point in Bush's tenor, and that includes even the after the housing bust. That is because Obama's policies have destroyed this country.
If you didn't know about unemployment VS workforce participation, now you do. Learn more about it though google. But do not continue to push this silly fiction that everything is wonderful. There is no debate about what Obama has done. If he were consciously trying to destroy the country, he could not be doing any better job.
The LFPR rate hit 62.8% in Oct 2013. At that time the U3 unemployment rate was 7.2%. This month the LFPR is 62.8% and the U3 unemployment rate is 5.4%. Clearly the unemployment rate is not falling because the LFPR is falling.
The largest segment of those not in the work force are retirees. Is Republican job machine going to force the elderly, the disabled or students to work?
Those working part time for economic reasons is at its lowest point since late in 2008. The number of people working part time for economic reasons has been in a steady decline for 4 years now.
Bull.. I guess enough folks have given up on working, or their "benefits" have run out. The growth of the national economy does NOT reflect a 5% unemployment rate....it's more like 55% or more.
It amazes me that folks believe all the crap they're told....when the facts are right in front of their face.
55% of working age adults are unemployed?
Who knew?
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