Jobless claims fall to lowest level in 4 months

[Doomsday101]

WASHINGTON (AP) -- The number of laid off workers filing claims for unemployment benefits fell for a fourth straight week, an encouraging sign that the job market is holding up in the midst of a host of otherwise bad economic news.

The Labor Department reported Thursday that applications for unemployment benefits dropped by 1,000 to 301,000 last week.

It marked the fourth straight weekly improvement and pushed claims down to the lowest level in four months. The string of falling claims numbers was a welcome sign after a big increase in the unemployment rate to 5 percent in December had increased worries about a possible recession.

The decline in jobless claims was unexpected. Analysts had been forecasting that the number of laid off workers applying for benefits would actually rise by 19,000 under a belief that a prolonged slump in housing and a severe credit crunch would prompt businesses to trim their employment roles.

Some economists cautioned that the job market is still likely to weaken in coming months, given the expected sharp slowdown in economic activity.

Rising worries about a possible recession in the United States triggered a global stock market sell-off at the beginning of this week.

However, Wall Street staged a huge rebound on Wednesday as investors became more optimistic following action by the Federal Reserve to cut a key interest rate by a bold three-fourths of a percentage point.

Stimulus deal may be near


http://money.cnn.com/2008/01/24/news...ion=2008012408

[Cajuncowboy]

Didn't the Clinton machine just say this was the worst economy in the last 60 years????

[jterrell]

Originally Posted by Cajuncowboy

Didn't the Clinton machine just say this was the worst economy in the last 60 years????

The article about the economy came from someone who supports Obama.
It really helps take you seriously if you read the articles before commenting.

The other info here is that this data is rather meaningless.

This is a typical business cycle occurrence.

There are new budgets for the new hire and thus new positions. That lowers unemployment and happens in both bad and good years. October and November see lay-offs and firings as that is the end of the year when all budget money has been spent.

So nice try buy 0-2.

[Cajuncowboy]

Originally Posted by jterrell

The article about the economy came from someone who supports Obama.
It really helps take you seriously if you read the articles before commenting.

The other info here is that this data is rather meaningless.

This is a typical business cycle occurrence.

There are new budgets for the new hire and thus new positions. That lowers unemployment and happens in both bad and good years. October and November see lay-offs and firings as that is the end of the year when all budget money has been spent.

So nice try buy 0-2.

I'm actually undefeated.

I simply said it was clintonian. It's the same mantra the dems use when they run against an incumbent president.

[jterrell]

Originally Posted by Cajuncowboy

I'm actually undefeated.

I simply said it was clintonian. It's the same mantra the dems use when they run against an incumbent president.

No you said.... "Didn't the Clinton machine just say this was the worst economy in the last 60 years????"

And they did not. George Soros did and he is a Barack Obama supporter.

That is just as silly as if I stated McCain was for Immigration laws that Duncan Hunter would have liked to pass. Surely you did not think I would let that slip by so you were merely confused about Clinton's takes as usual.

Hillary has focused on the housing industry(which is the true indicator of our economic woes) and her comments are readily available there.

[Cajuncowboy]

Originally Posted by jterrell

No you said.... "Didn't the Clinton machine just say this was the worst economy in the last 60 years????"

And they did not. George Soros did and he is a Barack Obama supporter.

That is just as silly as if I stated McCain was for Immigration laws that Duncan Hunter would have liked to pass. Surely you did not think I would let that slip by so you were merely confused about Clinton's takes as usual.

Hillary has focused on the housing industry(which is the true indicator of our economic woes) and her comments are readily available there.

Actually Bill said that the other day I think in SC. At least I read it. I did not hear it personally.