New jobless claims drop unexpectedly

[kpete]

Source: MSNBC

New jobless claims drop unexpectedly
Data point to a moderation in the pace of job losses

WASHINGTON - The tally of newly laid-off workers seeking unemployment benefits fell unexpectedly for the fifth straight week, a hopeful sign that the job market is slowly improving.

Still, claims remain above the levels that most analysts say would be consistent with an economy that is adding jobs. The unemployment rate is at 10.2 percent and expected to keep climbing into next year.

First-time claims for unemployment insurance dropped by 5,000 to a seasonally adjusted 457,000, the lowest total since the week of Sept. 6, 2008, the Labor Department said Thursday. Wall Street economists expected an increase, according to a survey by Thomson Reuters.

Read more: http://www.msnbc.msn.com/id/34254301/ns/business-stocks_and_economy/

[Craftsman]

1. When you slit a hogs throat the bleeding does eventually slow

but it due to lack of blood not healing.

[enlightenment]

4. My thoughts exactly.

Not to mention that reports like these are usually revised (negatively) more than once after the initial "don't worry, be happy" article.

[endless october]

2. only half a mil lost their jobs this month!

awesome!

that's only an extra ten people applying for every job i apply for.

[Zynx]

3. That is not what that means.

Jobless claims are almost never below 300,000 a week ever. We do not lose 300,000 a week in an expansion. This is a gross number regarding job losses, not a net number.

[AlinPA]

5. I've seen writeups that say 380K-400K new jobless claims is a break-even point,

where jobs start to be created.

[quiller4]

6. You are right. When we reach about 390K new claims a month we

we actually be adding jobs to the economy. That would mean some churn and turnover but a net increase in total jobs available.

[SpartanDem]

7. Yes getting the claim numbers under 400,000 would be HUGE.

[thecrow]

8. But isn't this because...

......there are so many already?
I mean, if you lose 1/2 million jobs per week for over a year... who's *left* to file for unemployment?
And.... how many people have run out of unemployment benefits? Doesn't that skew the numbers?
We should look at these numbers as only a part of the big picture.
How many families have lost their homes? Gone bankrupt? Etc?