Jobless Claims Fall To Near 5-Year Low

weekly obless claims

WASHINGTON -- The number of Americans filing new claims for jobless benefits fell last week and a trend reading hit a near five-year low, pointing to ongoing healing in the labor market. Initial claims for state unemployment benefits dropped by 5,000 to a seasonally adjusted 366,000, the Labor Department said on Thursday. The prior week's claims figure was revised to show 3,000 more new claims than initially reported.

Economists polled by Reuters had expected 360,000 claims last week. Claims were volatile in January due to the timing of holidays and the dates on which weeks ended, but a Labor Department analyst said that some of that volatility appeared to be receding. The analyst said there was nothing unusual in the data, and no states estimated their readings.

The four-week moving average for new claims, a gauge of the trend in layoffs, dropped 2,250 to 350,500. That was the lowest level since March 2008, suggesting a steady improvement in labor market conditions.

The claims report showed the number of people still receiving benefits under regular state programs after an initial week of aid increased 8,000 to 3.22 million in the week ended Jan. 26.

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Unemployment Rate - U6 - Here is the real rate

The U6 unemployment rate counts not only people without work seeking full-time employment (the more familiar U-3 rate), but also counts "marginally attached workers and those working part-time for economic reasons." Note that some of these part-time workers counted as employed by U-3 could be working as little as an hour a week. And the "marginally attached workers" include those who have gotten discouraged and stopped looking, but still want to work. The age considered for this calculation is 16 years and over

February 16 2013 at 3:44 PM Report abuse rate up rate down Reply

Sorry to burst your bubble but these new jobs are mostly part time jobs as businesses are cutting hours due to Obama Care

February 11 2013 at 2:26 PM Report abuse rate up rate down Reply

With Respect: What type of jobs are these and how much do they pay? Both parties not only allowed but encouraged American jobs to leave this country - (NAFTA), don't know where they thought their tax base would come from!
They are hell bent on destroying this country. They not only allow but help Illegal Aliens with their Anchor Babies to thumb their nose at the American People and Our Laws but help them and all for their VOTE. Those who do the right thing and do all they can, to follow our laws and try to enter this country Legally, are punished! Now that we know Illegal Aliens do not have to follow our laws & it is better than okay with our politicans, it must be time for American Citizens to pick which laws they wish to respect and which they do not, after all our Politicans are all for Fairness and what could be fairer than that! American Citizens Should Have The Same Or Dare I Say Better Rights Than - ILLEGAL - ALIENS - ! Just A Thought!!!

February 10 2013 at 3:31 PM Report abuse +1 rate up rate down Reply

Problem is "the poor" is finding out it is so much easier to be "poor" and accept social programs
than it is to go out and give a honest days work. All this administration has done .. and as supported by many of the statistics detailed here ... is create a nation of dependents who in turn vote for the Pied Piper
If you are one who is dependent on govt and unwilling to be accountable .... yes you will normally be a democrat and continue to support anyone who makes your life easier ..... Only problem is ... YOU are suppsed to make you life easier .....

Liberalism ...
Moochers selecting a Looter to steal from Prducers

February 09 2013 at 2:13 PM Report abuse rate up rate down Reply

dumb gop is a dummie
The oil and gas industry has long been a Republican Party supporter, consistently sending GOP candidates more than 70 percent of the industry\'s campaign contributions. But that support has increased further in the 2012 cycle: Now 90 percent of the industry\'s contributions are going to Republican candidates, according to the Center for Responsive Politics.....
diMs are tooooooooo stupid to understand ONE BASIC FACT--oil and gas WORK.
AND diMs don\'t know WE KNOW THE FACTS ON UNION contribution to the DNC and how many millions go out morning,noon and night.
......or the TAX BREAKS and TAXPAYER FUNDED GRANTS to the FAILURE of their green energy bs

February 09 2013 at 10:50 AM Report abuse +2 rate up rate down Reply

Four Years Later
An Unhappy Second Inauguration for Many Americans Many Americans are hoping that the next four years aren’t filled with the same failed economic policies and broken promises as the last four years. As the table below shows, from unemployment to housing to debt, the country is worse off than when the President first took office.

The Obama-conomy

President Obama’s
First Inauguration President Obama’s
Second Inauguration Change
Long-Term Unemployed1 2.7 Million 4.8 Million +78%
Workforce Dropouts2 50.1 Million 54.6 Million +10%
Food Stamp Recipients3 22.8 Million 46.6 Million +104%
Price of Gas4
$1.85 $3.30 +78%
“High Unemployment” States5 22 39 +77%
Misery Index6 7.83 9.46 +21%
“Typical” Monthly Family Food Cost7 $974 $1,023 +5%
Median Value of Single-Family Home8 $196,600 $186,100 -5%
Rate of Mortgage Delinquencies9 6.65% 10.77% +62%
U.S. National Debt10 $10.6 Trillion $16.4 Trillion +55%

February 09 2013 at 10:45 AM Report abuse +3 rate up rate down Reply

They are only "low" because they don't count the people who can't get benefits anymore or are working part-time and can't find full-time work.

February 08 2013 at 9:32 AM Report abuse +2 rate up rate down Reply
1 reply to jbrian922's comment

They need to count part time jobs too. I work part time jobs before when that was all I could get. Two part time jobs equals full time hours or more.

February 08 2013 at 11:51 AM Report abuse +2 rate up rate down Reply
1 reply to yummyspam's comment

No benefrits, right?

February 08 2013 at 1:35 PM Report abuse +1 rate up rate down

you want to know where this country is heading? look at detroit,michigan

February 08 2013 at 9:19 AM Report abuse +3 rate up rate down Reply
1 reply to njenel's comment

not all states are messed up beyond belief--some even HAVE SURPLUS.
and those with a surplus ARE NOT DIMOTARD/lib/progressive kommies.

February 09 2013 at 10:46 AM Report abuse rate up rate down Reply

This drop is seen because of all of the people that were collecting unemployment have stopped collecting the extension which ended in December. More cover up by liberals to make it seem things are getting better.

February 08 2013 at 5:13 AM Report abuse +5 rate up rate down Reply

The never ending desire by the corrupt and biased media to be the willing accomplices of our Incompetent -in-Chief is just getting old. How many months do they believe smoke and mirrors can cover the reality people are living? Last week, even though the unemployment rate went up, and more people dropped out of the workforce than found jobs, they reported that there was more good news than bad in the report. That was exactly how they would have reported it IF a Republican was President and presiding over the worst economic recover since the Great Depression. The media and government won't be needed to inform the American people when things ACTUALLY improve. That's the basic problem with their deceitful attempts to try to scam the people with the same smoke and mirrors.

February 08 2013 at 1:59 AM Report abuse +5 rate up rate down Reply

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