Thursday, April 16, 2009

Jobless claims show surprising drop

An encouraging jobs report today from the Labor Department - the second in two weeks.

New jobless claims fell more than expected for the second straight week to a seasonally adjusted 610,000 - the lowest level since January. The number, a drop from the previous week's 663,000 claims, was well below analysts' expectations of 655,000.

Two positive reports don't mark a trend, but they indicate a possible leveling out of unemployment. Two pieces of context, however: 1) Similar signals have been followed by bad news, including earlier this month, when jobless claims spiked to 669,000; and 2) The jobless claims still are much higher than a year ago, when claims stood at 369,000.

What to take from today's report? UNC Charlotte economist Carol Swartz has reminded Squeeze readers that when economic recovery starts, businesses see their orders and sales increase. Only when they are confident that the activity is lasting will they begin to hire again.

First, they have to stop firing people. We are, perhaps, nearing the beginning of that process.


Anonymous said...

Yes, there are positive signals coming from a variety of sectors indicating that the recession has bottomed out. The only direction it can go now (assuming there are no more big, dissapointing surprises from the financial sector) is UP! Hurray!

Anonymous said...

Figures dont lie but liars can figure.Isnt is funny how Bush and his bogus 911 wars caused all this and now he gets the hell out of Dodge and lays low like a snake saying he "owes Obama his silence"?
But what can Obama say? Had it not been for this total screwup spendthrift who caused 2.5 quadrillion global poison debt then Obama would still be a US Senator and 20 yrs away from the WH.
Bush did Obama a favor and many think Bush the baptist was 99% the reason for the first mixed race messiah.

The 911 rig and WMD yellowcake lies were the cause of it all.

This Tea Party whine was a joke since Bush and the GOP neocons caused it all with their bogus wars but somebody needs to tell that new WBT female so called conservative local yocal to take phonics lessons. She sounds like a female Barney Frank and instead of words like science she says "schience" or Observer is pronounced as "Obsherver" or schools is "schoolshs" etc. Very weird ... very annoying.

Anonymous said...

I didn't realize the attacks in New York that killed thousands of people were bogus... forgive me. Let's not forget... if indeed this is the beginning of recovery and Obama credits the stimulus packages - take note - they began under Bush's watch. I'm not taking up a position of supporting Bush as much as I'm pointing that your logic of blaming him is just as bogus as your claims. A sitting president as very little control over the sways of the economy.

Anonymous said...

Wow whoever posted that 2nd comment obviously is a mental midget. The economic downturn directly coincides with the Democrats taking over Congress in 2006. Bush's economic numbers were at all time highs up until that point. The ridiculous amount of spending that is going on now under this administration is going to bankrupt this country for generations to come. However, the spending is both a Democrat and Republican problem. Both sides are guilty of adding unnecessary spending to bills. The next 2 elections are going to be a very important time for the future of our country.

Anonymous said...

That's interesting, considering all the Republican talking point that Bush inherited a Clinton recession. Now you're saying it all started in 2006?

Anonymous said...

This mess started long befor 2006. Blame whoever you want to blame it still does nothing for the economy. Instead of always trying to point the finger at a Dem 0r repub let figure out how to get out this mess. Apparently President Obama knows what he is doing baecause we seem to be digging out slowly. Thank you Mr. President!

Anonymous said...

Both sides played an equal role. It doesn't matter if you are democratic or republican. They have all had their pockets lined by the large banks of American. Instead of partisan bickering, you should all be coming together to try and get the banks broken up stop monetary lobbying of Washington officials.