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Thread: U.S. jobless claims drop to near 45-year low

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    U.S. jobless claims drop to near 45-year low

    This is what happens when a president concentrates on helping his own people instead of bringing others in to "do the work Americans won't do".

    The number of Americans filing for unemployment benefits unexpectedly fell last week, dropping to its lowest level in nearly 45 years as the labor market tightened further, bolstering expectations of faster wage growth this year.

    The second straight weekly decline in claims reported by the Labor Department on Thursday also pointed to strong job growth momentum, which could further drive the unemployment rate lower.

    "The extremely low level of claims is a sign of tightness in the labor market and suggests that February is shaping up to be another solid month for job creation," said John Ryding, chief economist at RDQ Economics in New York.

    Initial claims for state unemployment benefits decreased 9,000 to a seasonally adjusted 221,000 for the week ended Feb. 3, the Labor Department said. Claims fell to 216,000 in mid-January, which was the lowest level since January 1973.

    Economists polled by Reuters had forecast claims rising to 232,000 in the latest week. Last week marked the 153rd straight week that claims remained below the 300,000 threshold, which is associated with a strong labor market. That is the longest such stretch since 1970, when the labor market was much smaller.

    The labor market is near full employment, with the jobless rate at a 17-year low of 4.1 percent. The tighter labor market is starting to exert upward pressure on wage growth.

    The Labor Department reported last week that average hourly earnings jumped 2.9 percent year-on-year in January, the largest gain since June 2009, after advancing 2.7 percent in December. Employers added 200,000 jobs to their payrolls last month.

    https://ca.news.yahoo.com/u-jobless-...--finance.html


    Mark
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    Quote Originally Posted by Norm dePlume View Post
    So, a 45 year low isn't something to celebrate?

    Mark
    Race Card: A tool of the intellectually weak and lazy when they cannot counter a logical argument or factual data.

    "Liberals have to stop insisting that the world is what they want it to be instead of the way it is." - Bill Maher

    Political correctness is ideological fascism. It’s the antithesis of freedom. Dr. Piper

    Gender is not a "Social Construct", it is an outgrowth of biological reality.

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    Quote Originally Posted by 80zephyr View Post
    So, a 45 year low isn't something to celebrate?

    Mark
    I'm not concerned. Let them take credit and brag all year about the economic rebound. Great numbers here, great numbers there, right into November.




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    Quote Originally Posted by 80zephyr View Post
    So, a 45 year low isn't something to celebrate?

    Mark
    Celebration is fine. It's your attribution that is bogus.

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    Quote Originally Posted by Norm dePlume View Post
    Celebration is fine. It's your attribution that is bogus.
    Nope. What I said is logical. And true.

    And, its going to get better, IF we can curtail immigration.

    Mark
    Race Card: A tool of the intellectually weak and lazy when they cannot counter a logical argument or factual data.

    "Liberals have to stop insisting that the world is what they want it to be instead of the way it is." - Bill Maher

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    Gender is not a "Social Construct", it is an outgrowth of biological reality.

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    Quote Originally Posted by Norm dePlume View Post
    Celebration is fine. It's your attribution that is bogus.
    And Jimmy Carter got credit for the restoration of the military in the eighties, and the end of "stagflation"?

    Go for it.

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    U.S. jobless claims drop to near 45-year low

    U.S. jobless claims drop to near 45-year low
    Reuters
    By Lucia Mutikani
    February 8, 2018


    WASHINGTON (Reuters) - The number of Americans filing for unemployment benefits unexpectedly fell last week, dropping to its lowest level in nearly 45 years as the labor market tightened further, bolstering expectations of faster wage growth this year.

    The second straight weekly decline in claims reported by the Labor Department on Thursday also pointed to strong job growth momentum, which could further drive the unemployment rate lower.

    "The extremely low level of claims is a sign of tightness in the labor market and suggests that February is shaping up to be another solid month for job creation," said John Ryding, chief economist at RDQ Economics in New York.

    Initial claims for state unemployment benefits decreased 9,000 to a seasonally adjusted 221,000 for the week ended Feb. 3, the Labor Department said. Claims fell to 216,000 in mid-January, which was the lowest level since January 1973.

    Economists polled by Reuters had forecast claims rising to 232,000 in the latest week. Last week marked the 153rd straight week that claims remained below the 300,000 threshold, which is associated with a strong labor market. That is the longest such stretch since 1970, when the labor market was much smaller.
    Yahoo

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    Quote Originally Posted by 80zephyr View Post
    Nope. What I said is logical. And true.

    And, its going to get better, IF we can curtail immigration.

    Mark
    Generally, if there is an abrupt change in a causal factor, that would show up as an equally abrupt shift in the data.

    Now declare yourself the winner or something.

    And these children that you spit on
    As they try to change their worlds
    Are immune to your consultations
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    -David Bowie, Changes

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