Weekly Jobless Claims Drop to Lowest Level Since Feb.

Note the suggestions growth will exceed 4% for the last quarter of this year and unemployment will be down to 5.7% by the 2004 election.

http://www.washingtonpost.com/wp-dyn/articles/A24816-2003Aug21.html

The number of Americans filing new claims for unemployment benefits last week fell to the lowest level in six months, another indication that the battered U.S. economy may be recovering from an extended period of weakness.

The Labor Department reported Thursday that 386,000 newly laid-off workers filed claims for jobless benefits last week, down by 17,000 from the previous week.

It was the smallest number of laid off workers filing for claims since the week ending Feb. 8, when the total was 378,000 and represented the fourth week out of the past five in which claims were below 400,000. Economists see weekly claims numbers below 400,000 as signaling an improving job market.

Labor Department analysts said that last week's massive power blackout had only a minimal impact on the claims figures. While one state reported that its claims would probably have been 2,000 to 3,000 higher if its offices had been open for the whole week, the bulk of the improvement in the claims figures came from outside the areas affected by the blackouts.

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The talking heads on Bloomberg this morning said the blackout definitely played a part in these lower numbers. People couldn't get to the offices to file. :shrug:

a.k.a. recession. I get so tired of doublespeak. :-(

poeple like me went through our extension and can't collect anymore. Of course, it doesn't matter I don't have a job, the claims are down!!

weekly new jobless claims will fall to zero!

a stat that will no doubt be hailed as a magnificent accomplishment of the bush/accomplice democrat tax cut

We continue to serve record or near-record crowds, many of whom are new faces. Yesterday we served lunch to 429 of Dallas's poor and homeless. But I am sure they will be ecstatic with this new report from Bu$hco's Labor Department. They will probably want champaigne with their free lunches today.

I don't see it anywhere but the Bloomberg reporter also said that the previous report's numbers were revised to a higher unemployment figure. That seems to have slid by without too much fanfare.