For all practical purposes, status quo ante.
The number of Americans filing for unemployment benefits last week remained historically low.
Jobless claims increased by 4,000 to 277,000 in the week ended Aug. 15, a Labor Department report showed Thursday in Washington. The median forecast of 48 economists surveyed by Bloomberg projected 271,000. Applications have been lower than 300,000, a level typically associated with an improving job market, since early March.
The four-week average of claims, a less-volatile measure than the weekly figure, climbed to 271,500 from 266,000 the week before, the lowest in more than 40 years. . . .
Estimates from 48 economists in the Bloomberg survey ranged from 264,000 to 285,000. The prior week’s claims were revised to 273,000 from an initial reading of 274,000.
Follow the link to see Bloomberg’s fear-mongering headline. It’s a hoot.
Still trending positively.
Jobless claims rose by 3,000 to 270,000 in the week ended August 1, a report from the Labor Department showed on Thursday in Washington. The median forecast of 41 economists surveyed by Bloomberg called for 272,000. The 255,000 reading two weeks earlier was the lowest since November 1973.
The four-week moving average, a less volatile measure than the weekly numbers, decreased to 268,250 last week from 274,750.
The number of people continuing to receive jobless benefits fell by 14,000 to 2.26 million in the week ended July 25.
The big news is that Bloomberg’s experts were close enough as to never mind, but that was likely one of the whaddycallem statistical anomalies.
Still not too bad.
Jobless claims increased by 12,000 to 267,000 in the period ended July 25, from 255,000 the prior week that was the lowest since November 1973, a report from the Labor Department showed Thursday.
The four-week average, a less volatile measure than the weekly numbers, decreased to 274,750 last week from 278,500.
The number of people continuing to receive jobless benefits rose by 46,000 to 2.26 million in the week ended July 18.
Republicans, no doubt, have a plan to fix the disturbing downward trend in joblessness.
The fewest Americans in four decades filed applications for unemployment benefits last week, continuing to unwind an early-July surge that was probably tied to mid-year factory shutdowns and school vacations.
Jobless claims plunged by 26,000 to 255,000 in the week ended July 18, the fewest since November 1973, a report from the Labor Department showed on Thursday in Washington.
The four-week moving average, a less volatile measure than the weekly numbers, decreased to 278,500 from 282,500. That was little changed from the 277,000 average during the June survey period.
In a continuing trend, Bloomberg is still need of new experts.
Bonddad analyzes the promise of austerity as economic policy and finds it lacking. Here’s a bit; follow the link for the rest.
Greece has already cut government spending by about 23% since 2009. ?That is called austerity, Jazz. Let’s see what kind of effect it has had on the economy, starting with total GDP:
Total GDP at constant prices has decreased about 25%. That means there has been NO GROWTH. For the economically challenged, NO GROWTH IS BAD.
Still under 300k.
Jobless claims climbed by 15,000 to 297,000 in the week ended July 4, the highest since February, a Labor Department report showed today in Washington. . . .
Applications for benefits have been below 300,000 for 18 straight weeks, the longest stretch since 2000 and indicating companies are content to maintain staffing levels.
The four-week average of claims, a less-volatile measure than the weekly figure, increased to 279,500 from 275,000 the week before.
The number of people continuing to receive jobless benefits rose by 69,000 to 2.33 million in the week ended June 27.
Bloomberg’s headline clutches pearls about how this is more than forecast (gasp!), as if that is a problem with the economy, when, in fact, it is a problem with Bloomberg’s “forecasters,” who, if they were meteorologists at your local AM-talker, would have been moved to reading traffic reports a long, long time ago.
They aren’t who you think they are.
Via Job’s Anger.
Still not bad. (Link fixed; syntax error.)
Jobless claims declined by 12,000 to 267,000 in the period ended June 13, the lowest since the week ended May 9, a Labor Department report showed Thursday.
The four-week average of claims, a less-volatile measure than the weekly figure, dropped to 276,750 from 278,750 the week before.
The number of people continuing to receive jobless benefits decreased by 50,000 to 2.22 million in the week ended June 6.
Click for a larger image.
When Republican economic theory is put into use, its underlying lies and fantasies come home to roost.
Via the Bob and Chez Show Blog.
Addendum, Later That Same Day:
Tony Norman explains the con.
Only the most hopelessly deluded believe they’ll join the ranks of the One Percent based on merit, spiritual virtue, entrepreneurial genius or hard work. There was a time when everyone who wasn’t rich opposed taxing those higher up the income ladder because they glibly assumed trophy spouses, luxury cars, mansions and Gulfstream jets were in their future, too.
Imagine that: Rich people had as their first line of defense against “onerous” tax rates the greed and unrealistic expectations of their economic inferiors. Back then, working-class stiffs and middle-class strivers — the same people who now find themselves holding onto the rapidly unraveling threads of the American Dream — opposed taxing the rich because they expected to be just as rich someday.
Somebody got played for suckers — and it wasn’t the rich!
Steven M. tries to figure out the Republican base. A snippet:
We see how this (the Wingnut Wurlitzer–ed.) affects the rank-and-file: They strut around in Colonial garb and wave “Don’t Tread on Me” flags, when they’re not imagining themselves as the Greeks at Thermopylae taunting the Persians with chants of “Molon labe!” (“Come and take them!”) — usually in reference to their guns.
We know that ordinary Republican schmucks think they’re heroes of the political movies that play in their heads. We know that a lot of billionaires think they’re Hitler’s victims. Why wouldn’t this message be received the same way by Carson and Huckabee and Cruz and the rest (of the candidates in the clown car–ed.)? Where do we think these folks get their news anyway? I bet it’s not from NPR.
Here in Virginia, you can get vanity plates for your car with the “Don’t Tread on Me” snake from the Gadsden flag where the hyphen would normally be. I reckon the folks who get them figure they are making a statement, but I doubt that they realize what the statement means to those outside their bubble.
When I see one of those plates, my silent response is, “Thanks for announcing that you are a bigot. Now I know who I am dealing with.”