Weekly Jobless Claims Drop, Job Market Healing

jobs report unemployment rate


WASHINGTON -- The number of Americans filing new claims for unemployment benefits fell last week, giving a clearer sign that the labor market is healing after wild fluctuations in claims data at the beginning of the month.

Initial claims for state unemployment benefits dropped 23,000 to a seasonally adjusted 369,000, the Labor Department said on Thursday.

The prior week's figure was revised slightly higher to show 4,000 more applications than previously reported.

A Labor Department analyst said all states submitted data for the report and that there was nothing unusual in the raw data. The analyst said the data showed no signs of the factors that had appeared to generate sharp swings in the claims reading over the prior two weeks.

More: Seasonal Hiring: Companies Hiring For The Holidays

The four-week moving average for jobless claims, which smooths out such volatility, rose 1,500 to a 368,000. Economists generally think a reading below 400,000 points to an increase in employment, with hiring likely to outpace layoffs.

The U.S. economy remains hobbled by a persistently high jobless rate. Incomes have stagnated and many families are awash in debts taken on during a housing bubble in the last decade.

Recently, however, the economy has shown a few positive signals, with the unemployment rate falling to 7.8 percent and retail sales picking up. Consumer spirits have also brightened.

Those signs of improvement appear to have done little to bolster President Barack Obama's bid for a second term, and there is only one more reading on U.S. unemployment before voters go to the polls on Nov. 6.

Earlier this month, claims swung sharply lower and then higher, which a Labor Department analyst said was likely due to a change in the seasonal pattern that usually manifests at the beginning of the quarter. That distortion in the seasonal data appears to a have passed, the analyst said on Thursday.

Continuing claims for jobless benefits fell 2,000 in the week ended Oct. 13 to a seasonally adjusted 3.254 million, the Labor Department said.

Durable Goods Climb in September




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ha6ai

Another absurd LIE for Obama's benefit, COINCIDENTALLY just a few days before the election!!

What an amazing MIRACLE! The economy is a slow-moving train wreck and disaster!

Is anyone STUPID enough to believe this left-stream media tripe?

October 28 2012 at 12:52 AM Report abuse +1 rate up rate down Reply
deeangel557

No one really knows what is going on with our nations HIGH unemployment. The rates and census are all over the map. It's an ELECTION year folks, you are being LIED to and of course our government is going to say that JOBS are here and unemployment is DOWN. President Obama needs your vote.

Companies want college graduates and veterans. Job seekers who actually work after high school and have been working ever since have no chance. The OLDER job seeker is OSTRACIZED and disrespected in our society These are your Moms, Dads, Aunts and Uncles and they need work. They were there to support you financially and physically when they raised you, now they are in need of help. It's not a pay back, it's a right of passage. Companies are interested in appearance so they hire the YOUTH pill to fill the void. The youth pill did graduate from college (commendable) but the 30 year veteran (non military) have the backbone......

I wish that President Obama read these comments, I would asked him; Mr. President I have been out of work, have a emplty refrigerator, empty pantry and have difficulty every month paying my utilities and rent, have been out of work for ( 4 ) years and no job in sight, if we have jobs then where is mind?

Did I tell you that I eat one meal a day (soup, no meat in it) and live by drinking coffee all day.
Did I tell you that I have headaches all day from not eating, my teeth are staring to bother me a well.
Did I tell you that I have not been to a doctor (OBGYN) in over 4 year and have not have had a mammogram in the same. No money no doctors, OBAMA-CARE what a crock.
Did I tell you that my governement and New York State is threatening me with pulling my ($120.00 a week) uemployment.
Did I tell you that my government would rather give to other nations and Wall Street then to FEED IT'S OWN.
Did I tell you that I went to my local FOOD BANK and was told in so many words that because the color of skin that should have money and why am I standing in line for free food, I was the only WHITE lady in line.

We as a nation do you think the President cares about how many people are going without food. No he doesn't, not when our "GOOD OLE US OF A" is paying his way.

My unemployment is about to run out. I have been giving to the unemployment program through my taxes for over 34 years of work. Now my government and the State of New York is telling me all I get is only a year and half of unemployment after ( 34 ) years of paying taxes to the program.

The President and his family and Mom In Law are living quite WELL in the White House FREE, through our years of paying taxes why the REST OF US are starving.

"WE THE PEOPLE" is a load of crap, "STOP DRINKING THE KOOL-AID" folks.

ROMNEY (tax evader) and PRESIDENT OBAMA (tax absorber), elect who you want it's just the LESSER of 2 evils.

I AM FED UP................................

October 26 2012 at 3:40 PM Report abuse rate up rate down Reply
skylinegra

Government needs to be run EXACTLY like a business. How hard is this for people to understand? Cut the fat ( welfare, SSDI and all the other BS. ) Yeah , people will bi**h for awhile but eventually, after about 5 or 6 years, the refrain will be " why didn't we do this 20 years ago?" Romney is the guy. He obviously will need help, but his vision is the big thing.

October 26 2012 at 2:48 PM Report abuse -1 rate up rate down Reply
sandinbox

Also have you heard about the thousands of young people heading to Washinton D.C for guess what....GOVERNMENT JOBS....THAT'S WHO'S HIRING AND GUESS WHO GETS TO PAY FOR THAT...OUR TAX DOLLARS MAKING FOR A MUCH LARGER GOVERNMENT.....THIS IS WHAT DEMOCRATS CALL JOB CREATION...WE CAN'T AFFORD TO HAVE THESE PEOPLE IN OFFICE ANYMORE...THEY HAVE NO IDEA HOW TO INCENTIVIZE PRIVATE JOB CREATION....GOVERNMENT SHOULD NOT BE IN THE BUSINESS OF EVEN TRYING TO CREATE JOBS....THEY DON'T KNOW WHO!!!!!

October 26 2012 at 12:44 PM Report abuse +2 rate up rate down Reply
sandinbox

Before writing these nonsense stories you should bother reading the business pages and how many large companies who pay well are planning on laying off thousands of people!!! Quit trying to sell us BS for the re-election of Obama. I know most people who read the business pages know well...Your writers might wanna take a minute to get educated before just reporting some PR newsrelease sent out by some org beholden to dem's.

October 26 2012 at 12:41 PM Report abuse +1 rate up rate down Reply
rxpharmd

Wonder if all the temp hiring for Christmas is driving this "recovery". Saw where Toys-R-Us hired 45,000 temp workers. Those jobs will be gone by Jnauary 15th.

October 26 2012 at 12:21 PM Report abuse rate up rate down Reply
Hi, Evelyn

I know too many people that have been looking for work in California, their benefits have run out & they have just about given up. What jobs? Certainly not in California!!

October 26 2012 at 11:32 AM Report abuse +4 rate up rate down Reply
tucsondenise

What a joke..these articles are so far off...its just the Dems hoping to swing those votes...Nothing is changing in my state....and my friends have gone back to school sometimes twice and can't find jobs coming out of school...everyone wants 2-3 years experience...Lots of people I know have just given up and retired early so they have dropped out... and are not being counted in umemployment rolls....Its all a sham....as per usual.

October 26 2012 at 10:11 AM Report abuse +3 rate up rate down Reply
cbsguards

Why voting for Romney is the wrong vote

This is a perfect example we all know that the country fall hard in 2008 and since we've made a slow recovery. The news ming daily and weekly continues to show progress yes slow but progress

When a REP discusses these results first they must be wrong then they are not good enough

Why can't the GOP acknowledge that some good things are occurring and tells us on the can build on it to speed up. No all we hear is the failure of Obama but we all see that's not true in fact he's showing growth for over 2 full years

Vote for our future not for the guy who see us as failing in everything

October 26 2012 at 10:02 AM Report abuse -1 rate up rate down Reply
2 replies to cbsguards's comment
freethedems2012

Why can't the Democrats be honest about the numbers?

October 26 2012 at 11:42 AM Report abuse +2 rate up rate down Reply
1 reply to freethedems2012's comment
luckycur

The numbers are close to accurate, the problem is, the jobs people expect to return are lost forever. Many of the high paying construction jobs will never return. Tthe jobs increased with the "house of cards" construction boom, when banks and mortgage companies took advanatage of a change in policy by Clinton, to issue mortgages to folks who in no way qualified to buy a home. Throw in the continued movement of jobs overseas, and we're becoming a low paying, no benefits service sector society.

October 26 2012 at 12:38 PM Report abuse rate up rate down
sandinbox

tHE COUNTRIES UNEMPLOYMENT RATE WAS AT 7.8% WHEN OBAMA TOOK OVER IT WENT UP TO 10.1% AND NOW IT'S BACK DOWN TO 7.8%. FACTS ARE WE'RE SO FAR FROM CREATING THE NUMBER OF JOBS WE NEED JUST TO STAY EVEN. WE'RE ON A ROLLER COASTER RIDE JUST ABOUT EVERY WEEK WITH SOME EMPLOYMENT GOING UP SUCH AS IN GOVERNMENT AND SERVICE INDUSTRY AND SOME GOING DOWN. THAT'S NOT PROGRESS.....A ROLLER COASTER RIDE AND HIGH DEFICITS WILL BRING US INTO A DEPRESSION. WE NEED TO LET ROMNEY TAKE OVER....HE UNDERSTANDS BUSINESS...HE UNDERSTANDS HOW TO INCENTIVIZ E PRIVATE BUSINESS AND HE KNOWS HOW TO BALANCE A BUDGET...IT'S REALLY ALL ABOUT HAVING BUSINESS EXPERIENCE...WE NEED SOMEONE LIKE THAT IN OFFICE RIGHT NOW...NOT A BUNCH OF LAWYERS AND PROFESSORS WHO KNOW HOW TO LITIGATE AND WORK OFF OF THEORY RATHER THAN PRAGMATISM. THOSE ARE SIMPLY THE FACTS OF ECONOMICS. iF YOU HAVE $100 INVEST I'D INVEST IT WITH ROMNEY NOT OBAMA. I TRUST ROMNEY MORE THAN I DO THE REPUBLICAN PARTY CAUSE WE ALL KNOW THEY HAVE A BUNCH IDIOTS IN OFFICE JUST LIKE THE DEM'S. BUT WE NEED TO STOP ALLOWING TO MEDIA TO PUT OUR ATTENTION ON RED HERRING ISSUES LIKE ABORTION, GAY MARRIAGE ETC.,....IT'S ALL ABOUT JOBS, JOBS, JOBS RIGHT NOW!!! UNLESS, OF COURSE, YOU'RE SO WEALTHY THAT YOU DON'T NEED TO WORRY ABOUT SUCH TRIVIAL THINGS OR YOUR ON WELFARE AND AND THE REST OF US ARE PAYING YOUR TAB....FOR US WORKING FOLKS JOBS ARE OUR FIRST PRIORITY.

October 26 2012 at 12:54 PM Report abuse rate up rate down Reply
comfy01

Confusing. One headline says job market healing. The very next headline talks about 2,000 being laid off. The first is published by Obama, the second is the truth.

October 26 2012 at 9:46 AM Report abuse rate up rate down Reply
1 reply to comfy01's comment
cbsguards

Neither were by Obama
why is it those that oppose Obama hate good news?
the report as you should have noticed talks about 342,000jobs losses a small number. the next article talks about one company laying off 2000 workers. Math will help here a REP shortcoming. That would be less than .5% of the monthly losses so they show how the JOB MARKET is improving

Just like it for once we like good news

October 26 2012 at 9:56 AM Report abuse rate up rate down Reply
2 replies to cbsguards's comment
freethedems2012

Becauese the "good news" is always a lie.

October 26 2012 at 11:43 AM Report abuse +1 rate up rate down
sandinbox

CBSGUARDS...YOU NEED TO READ IN DEPTH ABOUT THE ECONOMY. FACTS...OBAMA HAS NO EXPERIENCE IN BUSINESS...ROMNEY DOES...IT'S SOMETHING HE'S DONE VERY WELL IN. ONE HAS TO START THINKING IN ALMOST SIMPLISTIC TERMS....DO YOU HIRE A GUY WHO'S A PROVEN SUCCESS IN BUSINESS OR ONE WITHOUT ANY EXPERIENCE AT ALL IN BUSINESS....IT'S A NO BRAINER FOR ME. WE SIMPLY CAN'T AFFORD TO LOSE ANYMORE GROUND IN BUSINESS...AND OUR DEBT IS DECREASING OUR DOLLAR VALUE AND INCREASING INFLATION-LOOK AT WHAT A BAG OF GROCERIES COSTS TODAY, RENT ETC.,....THESE ARE NOT GOOD THINGS...AND WE'RE PROBABLY GOING TO HAVE ANOTHER BOOM/BUST IN THE RENTAL HOUSING INDUSTRY. ONE CAN SEE THESE PEOPLE OVERBUILDING WITH LOTS OF OLDER STOCK SITTING AROUND FOR RENT. THOSE ARE STATE AND GOVERNMENT PROBLEMS...THEY SIMPLY LOAN OUT MONEY WITHOUT ANY THOUGHT WHETHER GROWTH IS GREAT ENOUGH TO FILL ALL THESE NEW SPACES. THERE ARE A FEW EXCEPTIONAL AREAS WHERE IT'S RIGHT BUT FOR THE MOST PART I'D SAY NO. WE CONTINUE TO ALLOW BOOM/BUST SITUATIONS WHICH IS NO WAY TO RUN AN ECONOMY.

October 26 2012 at 1:44 PM Report abuse rate up rate down

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