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Data Digest: Jobless claims fall unexpectedly in encouraging sign

Jobless claims

The numbers: Initial claims for unemployment insurance dropped by 3,000 to 450,000 in the week ending Sept. 11. Economists surveyed by Bloomberg had expected a slight rise to 459,000. The number of continuing claims fell by 84,000 to 4.49 million in the week ending Sept. 4. Economists had forecast they would drop to 4.46 million.

Quick take: The labor market is improving.

What it means for you: The pace of firings may be slowing but these numbers get at whether companies are starting to hire again.

Data source: Labor Department

By Washington Post editors  |  September 16, 2010; 9:18 AM ET
Categories:  *Data Digest  
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Comments

Have you the smallest idea of what the error of estimate is on these parameters? Have you, say, looked at analysis of the record of magnitude of revisions from initial estimates?
Maybe it is time to start with fresh templates for reporting these economic data, including provision to the readers some extensive background. Bloomberg News makes money off reuse of the old survey and template for reporting. Self-examination shows up just as costs. What was adequate or passed for that during prosperity and in the past may be rotten and useless today during a jobless recovery. Do better.

Posted by: incredulous | September 16, 2010 11:29 AM | Report abuse

Really?! Really. Talk about your spin. The margin of error in these labor surveys is greater then the difference in the expected number and the measured number. Real answer: no measurable change in the jobs picture. End of story.

Posted by: Anonymous | September 16, 2010 11:30 AM | Report abuse

Why is the drop unexpected. Isn't there a time limit on receiving unemployment compensation. Much of the drop can probably be explained by the large number of unemployed who are no longer eligible to receive compensation but are still not employed. The unemployment situation is worse than we realize.

Posted by: Anonymous | September 16, 2010 12:04 PM | Report abuse

Why is the drop unexpected. Isn't there a time limit on receiving unemployment compensation. Much of the drop can probably be explained by the large number of unemployed who are no longer eligible to receive compensation but are still not employed. The unemployment situation is worse than we realize.

Posted by: Anonymous | September 16, 2010 12:04 PM | Report abuse
*******************************************

INITIAL claims--that means NEW claims--not continuing. We would not expect to see long term unemployed in INITIAL claims.

Posted by: Prosperity2008 | September 16, 2010 12:30 PM | Report abuse

CHANGE THAT MATTERS????????


Poverty Rate Highest Since '94; Foreclosures Up 25 Percent

Posted by: Anonymous | September 16, 2010 12:33 PM | Report abuse

Mass layoff events rise in August over previous month

In August, employers took 2,690 mass layoff actions that resulted in the separation of 259,307 workers, seasonally adjusted, as measured by new filings for unemployment insurance benefits during the month, according to the Bureau of Labor Statistics. Each action involved at least 50 persons from a single employer, and the number of mass layoff events in August increased by 533 from the prior month, while the number of associated initial claims increased by 52,516. ( USDL-09-1156). To view the release from the BLS with accompanying tables, go to http://www.bls.gov/news.release/mmls.nr0.htm.

Posted by: Anonymous | September 16, 2010 12:40 PM | Report abuse

Mass layoff events rise in August over previous month

In August, employers took 2,690 mass layoff actions that resulted in the separation of 259,307 workers, seasonally adjusted, as measured by new filings for unemployment insurance benefits during the month, according to the Bureau of Labor Statistics. Each action involved at least 50 persons from a single employer, and the number of mass layoff events in August increased by 533 from the prior month, while the number of associated initial claims increased by 52,516. ( USDL-09-1156). To view the release from the BLS with accompanying tables, go to http://www.bls.gov/news.release/mmls.nr0.htm.

Posted by: micholina | September 16, 2010 12:42 PM | Report abuse

Isn't it so funny how the people that created this mess attempt to cover the unemployment up.

The Republicans under George Bush put this country where it is now and created tax incentive for corporations to move overseas and Americans are just now starting to complain?

How poetic.

It appears Americans do get what they wish for.

The funniest thing this time around, they are wanting to do it again to themselves come November.

The media call it anger but I call it "stuck on stupid."

Vote GOTP, you deserve the screw job again.

Posted by: rbraun2000 | September 16, 2010 2:00 PM | Report abuse

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