US jobless claims brighten labor market picture (Weekly claims fall by 15,000 to 358,000)
Thursday 9th of February 2012 12:00:19 PM
Posted by admin / Under Jobs For Youth/Chicago
| The number of Americans filing new claims for unemployment benefits unexpectedly fell last week, underscoring a firming of the labor market. Initial claims for state unemployment benefits dropped 15,000 to a seasonally adjusted 358,000, the Labor Department said on Thursday. The four-week moving average for new claims, seen as a better measure of labor market trends, fell 11,000 to 366,250 - the lowest level since April 2008. Economists polled by Reuters had forecast new claims rising to 370,000. U.S. stock index futures slightly added to gains after the report, while Treasury debt prices eased. The dollar rose to a session... |
Projections vs. Reality — Should Politicians Make Job Creation Claims?
Thursday 9th of February 2012 12:00:19 PM
Posted by admin / Under Jobs For Youth/Chicago
| In a recent MLive.com column, political pundit Tim Skubick criticized Gov. Rick Snyder for not projecting how many jobs his tax cuts will generate. “Well, when it comes to the governor’s much-touted $1.8 billion tax cut for business, just one month old, there is no accountability on how many jobs it will create. Zero. Nada. Zippo,” Skubick wrote. “You mean with all his business connections he couldn’t find some schlub to run the numbers into the computer and come out with an answer on the other end?” Skubick added. But Michael LaFaive says Michigan residents have had their fill of... |
DAVID STOCKMAN: It's True, The BLS Data Is Made Up
Thursday 9th of February 2012 12:00:19 PM
Posted by admin / Under Jobs For Youth/Chicago
| After countless attempts to discredit or defend Friday's jobs report, we can all agree on one thing: The data is complicated. So complicated that the BLS could make the economy look better than it was and no one would be sure. Former Reagan budget director David Stockman said as much in an email to Bruce Krasting, in response to Krasting's criticism of the jobs report. Stockman writes: "If you spend a little time with these numbers you will know that they are being made up." Here's the email (via Wall Street Examiner): Bruce– Great job on the Summers catch, but... |
Understanding Unemployment Statistics (A significant number of out-of-work people are NOT counted)
Thursday 9th of February 2012 12:00:19 PM
Posted by admin / Under Jobs For Youth/Chicago
| It may come as a surprise that according to the federal government, an out-of-work person who put in an application at every place in town more than thirty days ago, who scours every available newspaper's want ads every morning, and who visits every job search website on the web with no luck is not counted as unemployed. Indeed, he would not be considered member of the labor force because he is not actively searching for a job. Each month, the media report unemployment figures for the previous month. Much attention is paid to these figures, and many public and private... |
Unemployment Tricks: Jobs Claim Made by 'Shrinking' Workforce
Thursday 9th of February 2012 12:00:19 PM
Posted by admin / Under Jobs For Youth/Chicago
| Last week, the White House claimed that unemployment dropped for the fifth consecutive month to 8.3 percent — the lowest it has been in nearly three years — after adding 243,000 jobs, according to the Bureau of Labor Statistics. But financial experts are saying the figures may have been manipulated — and that the significant drop in employment was because of the fact that the federal agency charged with computing key economic data has significantly decreased the number of Americans in the workforce. “If you hold the workforce participation rate constant over the past year, unemployment would be about 8.9... |
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