Jobless claims drop sharply last week

[240 is Back]

WASHINGTON (Reuters) – New U.S. claims for unemployment insurance fell more than expected last week, government data showed on Thursday, while the number of people continuing to receive benefits in the final week of June was the lowest in seven months.

Initial claims for state unemployment benefits dropped 21,000 to a seasonally adjusted 454,000 in the week ended July 3, the lowest level since early May, the Labor Department said.

Analysts polled by Reuters had expected claims to fall to 460,000 from the previously reported 472,000, which was revised up to 475,000 in Thursday's report.

The four-week moving average of new jobless claims, seen as a better measure of underlying labor market trends, fell 1,250 to 466,000.

[Soul Crusher]

 

[240 is Back]

If jobless claims jumped sharply last week, Obama would look pretty bad for it, right?

[quadzilla456]

Company A opens for business in January and employs 10 people. When economy turns sour in June, Company A eliminates 4 employees. In September, Company A eliminates 2 more employees and liberals rejoice because the 'numbers' indicate that fewer people filed for unemployment, so the economy must be turning around.

I would not get too excited about this data. There were still job losses. Ofcourse wall street is looking for any excuse to deliver a rally. As long as the same crooks that were responsible for America's decline are in power I don't see a recovery at all.

[Bindare_Dundat]

WASHINGTON (Reuters) – New U.S. claims for unemployment insurance fell more than expected last week, government data showed on Thursday, while the number of people continuing to receive benefits in the final week of June was the lowest in seven months.

Initial claims for state unemployment benefits dropped 21,000 to a seasonally adjusted 454,000 in the week ended July 3, the lowest level since early May, the Labor Department said.

Analysts polled by Reuters had expected claims to fall to 460,000 from the previously reported 472,000, which was revised up to 475,000 in Thursday's report.

The four-week moving average of new jobless claims, seen as a better measure of underlying labor market trends, fell 1,250 to 466,000.

Rob, if you're going to play devils advocate, then at least pick a subject that isnt so obviously  full of bullshit, it doesnt help your position my friend.

[Soul Crusher]

If jobless claims jumped sharply last week, Obama would look pretty bad for it, right?

Look at your own article.  Claims did not drop sharply.  And remember something else 240 - the pool of jobs for claims is much smaller since 2008 so the numbers are still crazily high and still evidence weaking jobs data. 

Stop kneepadding. 

[Dos Equis]

 

[Soul Crusher]

Where is the sharp drop 240?