BarryLaverty Posted November 24, 2021 Share Posted November 24, 2021 Thankful for President Biden's leadership. (Washington Post) Business Weekly jobless claims plunge to 199,000, the lowest level in more than 50 years Claims fell more than 71,000 from last week, marking the eighth straight week of declines By Taylor Telford and Aaron Gregg Today at 8:43 a.m. EST The number of Americans filing initial unemployment claims fell to 199,000 — the lowest level since November 1969 — the Labor Department reportedWednesday. Claims were down more than 71,000 in the week that ended November 20 compared to the previous week. This marks the eighth straight week of declines and represents a major turning point as claims fell well below levels seen before the pandemic. In 2019, average weekly jobless claims hovered around 220,000. It’s a stark contrast to this time last year, when weekly unemployment claims were still hovering around 700,000, and a reflection of a tight labor market where companies are under pressure to retain and expand their workforces. “It is fair to say we didn’t see that coming,” Mark Hamrick, senior economic analyst at Bankrate, said Wednesday in comments emailed to The Post. “Getting new claims below the 200,000 level for the first time since the pandemic began is truly significant, portraying further improvement.” A pandemic picture that was, up until recently, brightening, coupled with the protracted labor shortage, has cut down on layoffs that wracked the economy in the early days of the coronaviruspandemic. Hiring strengthened in October, with the U.S. adding 531,000 jobs. The unemployment rate dropped from 4.8 percent to 4.6 percent. It remains a far cry from its pre-pandemic low of 3.5 percent in February 2020, but marks a significant improvement over the course of 2021. In January, the unemployment rate stood at 6.3 percent. The Labor Department’s monthly jobs report, which will be released next week, is expected to shed more light on the complex dynamics of the labor market. While jobless claims have ticked lower in recent weeks, more than 4.4 million workers (representing roughly 3 percent of the labor force) quit their jobs in September, a record high according todata from Bureau of Labor Statistics. 1 Link to comment Share on other sites More sharing options...
mellon Posted November 24, 2021 Share Posted November 24, 2021 1 Link to comment Share on other sites More sharing options...
Monte1076 Posted November 24, 2021 Share Posted November 24, 2021 Those numbers can be deceptive, though, if you realize how they're calculated. People who "fall off the rolls" aren't counted, even if they're actively looking. And again, how does this compare to all of the jobs lost due to covid? have we gotten back to zero yet? If you lose 1,000 of something, but "gain" 950 back, you're still 50 short. 1 Link to comment Share on other sites More sharing options...
Monte1076 Posted November 24, 2021 Share Posted November 24, 2021 12 minutes ago, Old49er60 said: Who could have guessed the numbers are deceptive, but under trump 100% accurate…also 50 years covers the incest in charge TBH...the unemployment rate is never really as accurate as people like to claim. Link to comment Share on other sites More sharing options...
Monte1076 Posted November 24, 2021 Share Posted November 24, 2021 1 minute ago, Old49er60 said: So when trump was claiming it it was false? Texas is in low 4s right now by numbers… It's never truly accurate, given how it's calculated and what goes into it, regardless of who's President. Here's a read on what I mean: https://www.thebalance.com/what-is-the-real-unemployment-rate-3306198 Link to comment Share on other sites More sharing options...
Coach Rab Posted November 24, 2021 Share Posted November 24, 2021 Coincidentally, the additional federal unemployment benefits ended exactly 8 weeks ago…….. don’t believe me? Look it up 1 Link to comment Share on other sites More sharing options...
Monte1076 Posted November 24, 2021 Share Posted November 24, 2021 10 minutes ago, MavGrad99 said: Coincidentally, the additional federal unemployment benefits ended exactly 8 weeks ago…….. don’t believe me? Look it up Which, if I'm not mistaken, means any of them who didn't find employment fell off the rolls. 2 Link to comment Share on other sites More sharing options...
DB2point0 Posted November 24, 2021 Share Posted November 24, 2021 2 hours ago, MavGrad99 said: Coincidentally, the additional federal unemployment benefits ended exactly 8 weeks ago…….. don’t believe me? Look it up Lol, Look it up…. 1 Link to comment Share on other sites More sharing options...
osup116 Posted November 24, 2021 Share Posted November 24, 2021 I feel like Debbie downer on this one. The story fails to report Pandemic Unemployment Assistance or Continued unemployment benefits https://www.dol.gov/ui/data.pdf UNADJUSTED DATA The advance number of actual initial claims under state programs, unadjusted, totaled 258,622 in the week ending November 20, an increase of 18,187 (or 7.6 percent) from the previous week. The seasonal factors had expected an increase of 88,572 (or 36.8 percent) from the previous week. There were 828,099 initial claims in the comparable week in 2020. In addition, for the week ending November 20, 32 states reported 1,616 initial claims for Pandemic Unemployment Assistance. The advance unadjusted insured unemployment rate was 1.3 percent during the week ending November 13, unchanged from the prior week. The advance unadjusted level of insured unemployment in state programs totaled 1,814,354, an increase of 31,049 (or 1.7 percent) from the preceding week. The seasonal factors had expected an increase of 91,124 (or 5.1 percent) from the previous week. A year earlier the rate was 4.0 percent and the volume was 5,917,233. The total number of continued weeks claimed for benefits in all programs for the week ending November 6 was 2,432,281, a decrease of 752,390 from the previous week. There were 21,111,266 weekly claims filed for benefits in all programs in the comparable week in 2020. During the week ending November 6, Extended Benefits were available in the following 4 states: Alaska, Connecticut, New Jersey, and New Mexico. Initial claims for UI benefits filed by former Federal civilian employees totaled 1,010 in the week ending November 13, an increase of 42 from the prior week. There were 393 initial claims filed by newly discharged veterans, a decrease of 42 from the preceding week. 3 There were 7,854 continued weeks claimed filed by former Federal civilian employees the week ending November 6, a decrease of 169 from the previous week. Newly discharged veterans claiming benefits totaled 4,837, a decrease of 164 from the prior week. During the week ending November 6, 40 states reported 334,750 continued weekly claims for Pandemic Unemployment Assistance benefits and 41 states reported 151,556 continued claims for Pandemic Emergency Unemployment Compensation benefits. The highest insured unemployment rates in the week ending November 6 were in the Virgin Islands (3.0), Alaska (2.7), District of Columbia (2.7), Puerto Rico (2.7), California (2.6), New Jersey (2.5), Hawaii (2.1), Nevada (2.1), Illinois (1.9), and New York (1.8). The largest increases in initial claims for the week ending November 13 were in California (+4,690), Massachusetts (+2,269), Pennsylvania (+1,994), Minnesota (+1,202), and Wisconsin (+907), while the largest decreases were in Kentucky (-8,712), Tennessee (-4,001), Ohio (-3,315), Michigan (-3,230), and Illinois (-1,184). Link to comment Share on other sites More sharing options...
RETIREDFAN1 Posted November 24, 2021 Share Posted November 24, 2021 When they cut off that unemployment people went to work....... 2 Link to comment Share on other sites More sharing options...
DaveTV1 Posted November 27, 2021 Share Posted November 27, 2021 On 11/24/2021 at 2:13 PM, RETIREDFAN1 said: When they cut off that unemployment people went to work....... They also cut it off once they used up their unemployment benefit amount. The unemployment rate is still at 4.6 %. Pre-Wuhan it was at 3.67 %. Barry is just brainwashed by numbers that don't account for the total amount of people unemployed. Link to comment Share on other sites More sharing options...
Monte1076 Posted November 27, 2021 Share Posted November 27, 2021 11 hours ago, Old49er60 said: Numbers always lie depending on what party is in office. I think I said this above. Or something very similar. With a link. Link to comment Share on other sites More sharing options...
HearEmaGrowlin Posted November 28, 2021 Share Posted November 28, 2021 On 11/24/2021 at 10:44 AM, Old49er60 said: So when trump was claiming it it was false? Texas is in low 4s right now by numbers… That’s NOT because of anything Biden did. Abbott said no more to people leaching off the system and people went back to work. We’ve not been shut down due to covid like some other states / been back open longer. Those things have nothing to do with the puppet president. 1 Link to comment Share on other sites More sharing options...
ctown81 Posted November 28, 2021 Share Posted November 28, 2021 8 hours ago, Old49er60 said: Just wondering but didnt those extra benefits happen under trump? This thread went silent Link to comment Share on other sites More sharing options...
KirtFalcon Posted November 28, 2021 Share Posted November 28, 2021 On 11/24/2021 at 9:04 AM, BarryLaverty said: Thankful for President Biden's leadership. (Washington Post) Business Weekly jobless claims plunge to 199,000, the lowest level in more than 50 years Claims fell more than 71,000 from last week, marking the eighth straight week of declines By Taylor Telford and Aaron Gregg Today at 8:43 a.m. EST The number of Americans filing initial unemployment claims fell to 199,000 — the lowest level since November 1969 — the Labor Department reportedWednesday. Claims were down more than 71,000 in the week that ended November 20 compared to the previous week. This marks the eighth straight week of declines and represents a major turning point as claims fell well below levels seen before the pandemic. In 2019, average weekly jobless claims hovered around 220,000. It’s a stark contrast to this time last year, when weekly unemployment claims were still hovering around 700,000, and a reflection of a tight labor market where companies are under pressure to retain and expand their workforces. “It is fair to say we didn’t see that coming,” Mark Hamrick, senior economic analyst at Bankrate, said Wednesday in comments emailed to The Post. “Getting new claims below the 200,000 level for the first time since the pandemic began is truly significant, portraying further improvement.” A pandemic picture that was, up until recently, brightening, coupled with the protracted labor shortage, has cut down on layoffs that wracked the economy in the early days of the coronaviruspandemic. Hiring strengthened in October, with the U.S. adding 531,000 jobs. The unemployment rate dropped from 4.8 percent to 4.6 percent. It remains a far cry from its pre-pandemic low of 3.5 percent in February 2020, but marks a significant improvement over the course of 2021. In January, the unemployment rate stood at 6.3 percent. The Labor Department’s monthly jobs report, which will be released next week, is expected to shed more light on the complex dynamics of the labor market. While jobless claims have ticked lower in recent weeks, more than 4.4 million workers (representing roughly 3 percent of the labor force) quit their jobs in September, a record high according todata from Bureau of Labor Statistics. Tell us about the job participation rate ... numb nutts .... A fewer perentage of working age Americans are participating in the labor force than any time in history .... The deceptively corrupt Washigton Compost doesn't tell you that, Larry ..... Link to comment Share on other sites More sharing options...
Monte1076 Posted November 29, 2021 Share Posted November 29, 2021 2 hours ago, Old49er60 said: Got a link to that? I don't think it's "at any time in history", but there is this: https://www.bls.gov/charts/employment-situation/civilian-labor-force-participation-rate.htm Link to comment Share on other sites More sharing options...
KirtFalcon Posted November 29, 2021 Share Posted November 29, 2021 12 hours ago, Monte1076 said: I don't think it's "at any time in history", but there is this: https://www.bls.gov/charts/employment-situation/civilian-labor-force-participation-rate.htm It did get slightly lower because of the China virus shutdowns, but that too was government caused. For the s administration to claim anything about jobless claims, or anything about jobs is hilarious .... the only bounce is due to people coming out of their lockdowns and going back to work, not because of their ecnomic policies .... Link to comment Share on other sites More sharing options...
Monte1076 Posted November 29, 2021 Share Posted November 29, 2021 3 minutes ago, KirtFalcon said: It did get slightly lower because of the China virus shutdowns, but that too was government caused. For the s administration to claim anything about jobless claims, or anything about jobs is hilarious .... the only bounce is due to people coming out of their lockdowns and going back to work, not because of their economic policies .... And now I'm reading that because of the Omicron variant that there might be another "round" of "lockdowns". Link to comment Share on other sites More sharing options...
RETIREDFAN1 Posted November 29, 2021 Share Posted November 29, 2021 4 minutes ago, Monte1076 said: And now I'm reading that because of the Omicron variant that there might be another "round" of "lockdowns". Not in Texas...... Link to comment Share on other sites More sharing options...
KirtFalcon Posted November 29, 2021 Share Posted November 29, 2021 37 minutes ago, Monte1076 said: And now I'm reading that because of the Omicron variant that there might be another "round" of "lockdowns". There is going to be variant after variant .... the left is going to try and use it to control the lemmings through fear .... it's just like different strains of the flu, which we never over reacted over ... you have heard nothing about the seasonal flu or pneumonia since the exploitation of the China virus .... Americans are "sick" of it .... 1 Link to comment Share on other sites More sharing options...
Monte1076 Posted November 29, 2021 Share Posted November 29, 2021 4 minutes ago, KirtFalcon said: There is going to be variant after variant .... the left is going to try and use it to control the lemmings through fear .... it's just like different strains of the flu, which we never over reacted over ... you have heard nothing about the seasonal flu or pneumonia since the exploitation of the China virus .... Americans are "sick" of it .... I do find it interesting, and a bit frustrating, that just when it looks like we're getting this thing under control, another variant pops up somewhere. Although from what I'm reading, this "omicron" variant might be a "mild" variant. It might be more transmissible, but you get far less sick. At least that's what one South African doctor is saying she's seen in the patients she's treated with it. The main things she's reported her patients having is lethargy for a few days, body aches, and headaches. She calls the symptoms "mild" and basically says it can be treated "at home". So we'll see. Link to comment Share on other sites More sharing options...
KirtFalcon Posted November 29, 2021 Share Posted November 29, 2021 1 minute ago, Monte1076 said: I do find it interesting, and a bit frustrating, that just when it looks like we're getting this thing under control, another variant pops up somewhere. Although from what I'm reading, this "omicron" variant might be a "mild" variant. It might be more transmissible, but you get far less sick. At least that's what one South African doctor is saying she's seen in the patients she's treated with it. The main things she's reported her patients having is lethargy for a few days, body aches, and headaches. She calls the symptoms "mild" and basically says it can be treated "at home". So we'll see. If she keeps talking like that, she will quickly get the hook from the WHO and Fauchi .... Link to comment Share on other sites More sharing options...
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