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This is a discussion on Q4 Economic News within the Current Events forums, part of the Tech Support Forum category. Jobless claims fell by 2,000 to 291,000 in the week ended Nov. 15 from an upwardly revised 293,000 in the


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Old 11-20-2014, 06:27 AM   #1
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Jobless claims fell by 2,000 to 291,000 in the week ended Nov. 15 from an upwardly revised 293,000 in the prior period, a Labor Department report showed today in Washington. The median forecast of 51 economists surveyed by Bloomberg called for a decline to 284,000. It was the 10th straight week the number of claims has been lower than 300,000, which hasn’t happened since 2000.

Companies are holding on to more workers to keep pace with demand for domestic goods and services that has held up even as growth in overseas markets cools. As a result, firings have lingered near historically low levels and payrolls are rising, giving U.S. households a needed lift as the holidays approach.

“Claims are still well under the 300,000 mark and they’ve remained there for a little over two months now, and that bodes well in terms of payroll growth,” said Gregory Daco, lead U.S. economist at Oxford Economics USA Inc. in New York, who forecast 290,000 claims. “We’re seeing good prospects and a strong trend” for progress in the labor market.
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The number of people continuing to receive jobless benefits dropped by 73,000 to 2.33 million in the week ended Nov. 8, the fewest since December 2000.
Bold mine

Nice trend . .

Fewer Than 300,000 in U.S. File Jobless Claims for 10th Week - Bloomberg
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Old 11-26-2014, 07:20 AM   #2
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The number of people seeking U.S. unemployment benefits jumped last week, pushing total applications above 300,000 for the first time in nearly three months.

Weekly applications rose 21,000 to a seasonally adjusted 313,000, the Labor Department said Wednesday. That's the highest level since the first week of September. The four-week average, a less volatile measure, rose 6,250 to 294,000.

The increase is unlikely to raise concerns about the broader health of the job market. At least some of the rise occurred because of seasonal layoffs in businesses affected by the cold weather, such as construction. The department seeks to control for such seasonal factors but doesn't always do so perfectly.

Applications had been under 300,000 for 10 straight weeks, an unusually low level that indicates companies are laying off fewer workers.

Even with last week's increase, the overall level of applications is well below where it was 12 months ago. The four week average has tumbled 12.2 percent in the past year, and isn't that far from a 14-year low of 279,000 reached last month
one step backwards . .

Applications for US jobless aid jump to 313,000
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Old 11-26-2014, 02:33 PM   #3
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Consumer sentiment in the U.S. climbed last week to the highest level since December 2007 as Americans grew more upbeat about the state of the economy, their financial well-being and the buying climate.

The Bloomberg Consumer Comfort Index advanced to 40.7 for the period ended Nov. 23 from 38.5, according to a report today. All three components improved last week, with the gauge of views on whether it’s a good time to shop rising to a seven-year high.

Labor market gains, record stock values and gas prices at four-year lows are boosting household sentiment in time for the holiday-shopping season. Fatter paychecks for lower-income earners would help households across all income brackets to make more purchases.
Good indicator . .

Sustainability: Energy, Natural Resources & Business - Bloomberg
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Old 12-04-2014, 06:52 AM   #4
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The number of Americans filing new claims for unemployment benefits fell last week, pointing to an improving labor market.

Initial claims for state unemployment benefits dropped by 17,000 to a seasonally adjusted 297,000 for the week ended Nov. 29, the Labor Department said on Thursday.

The decline almost reversed the prior week's increase which had pushed claims above 300,000 for the first time since early September. Economists polled by Reuters had forecast claims falling to 295,000 last week.

The four-week moving average of claims, considered a better measure of labor market trends as it irons out week-to-week volatility, increased by 4,750 to 299,0000. It has held below 300,000 for 12 straight weeks, indicating labor market strength.
Nice . .

U.S. jobless claims fall, unwind prior week's increase | Reuters
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Old 12-04-2014, 02:25 PM   #5
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There are still many pain points in the economy, but the pace of job growth is no longer one of them.

The government is likely to report on Friday that U.S. employers created about 230,00 jobs in November, roughly matching the monthly average so far this year. Economists expect the unemployment rate to fall from 5.8% to 5.5%. Recent analysis of the job market has focused, correctly, on problems such as stagnant wages and a declining portion of adults in the labor force. Yet the underlying pace of job creation has strengthened to healthy levels, which suggests other important parts of the economy such as incomes, spending and home sales will soon begin to recover faster, too.

A few important trends emerge from these figures. First, the pace of job growth in 2014 has been the best since 1999, which was a boom (and arguably bubble) year for the economy. Job growth has exceeded the current pace during only six years since 1990. And the job-market recovery since 2009 is apparent in the usual way we expect to see, with five straight years of improving job growth, beginning in 2010.

The numbers also show why the economy is still in a funk. Job losses in 2008 and 2009 were so severe that it took five years just to recover the jobs that were lost. Recoveries happened much faster after the recessions in 1991 and 2001. The halting pace of recovery this time around means we’re not seeing a real rebound in hiring until years later than we’re accustomed to seeing. And even though job growth is now close to 1999 levels, part of the improvement is explained by a larger economy and a bigger population.

The quality of jobs in the current recovery is also suspect, which helps explain why incomes are stagnant. Research by the U.S. Conference of Mayors shows that jobs lost during the recession paid about $62,000 per year, on average. Jobs added since then only pay about $47,000. That's because employment in relatively high-paying fields such as construction and manufacturing are still depressed, while many of the new jobs that have materialized are lower-paying service positions in fields such as retail, hospitality and healthcare. In many families, the main breadwinner used to be a manufacturing or construction worker, but is now a retail clerk or office assistant. The jobs are there but household earning power is greatly diminished.
A pretty balanced article . .

https://finance.yahoo.com/news/2014-i...173402596.html
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Old 12-04-2014, 02:36 PM   #6
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It sounds pretty bad to me, lack of wages.

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Old 12-04-2014, 02:53 PM   #7
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Last paragraph on the article:

Quote:
A recovery has to start somewhere though, and before good jobs return, lesser ones have to suffice. Maybe we finally have enough of those.
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Old 12-04-2014, 08:18 PM   #8
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I only read what you said/quoted. Not a mind reader.

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Old 12-05-2014, 06:20 AM   #9
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Not a good idea . .
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Old 12-05-2014, 06:57 AM   #10
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A broad-based November hiring surge ranging from factories to offices and retailers powered the U.S. economy to create the largest number of jobs in almost three years, triggering long-awaited wage gains.

The 321,000 advance in payrolls exceeded the most optimistic projection in a Bloomberg survey of economists and followed a 243,000 gain in October that was stronger than previously reported, figures from the Labor Department showed today in Washington. The jobless rate held at a six-year low of 5.8 percent. Average hourly earnings rose 0.4 percent, the most since June of last year.

Persistent job growth that’s generating income growth and stoking demand increases the likelihood of employment opportunities for even more Americans. Treasury yields rose as traders bet the improvement in the labor market will help assure Federal Reserve policy makers that the economy is strong enough to withstand an increase in borrowing costs next year.

“You’ve got this really nice dynamic going on in that there’s more jobs growth, more spending, stronger GDP growth, which in turn means more jobs being created,” said Nariman Behravesh, chief economist for IHS Inc. in Lexington, Massachusetts, and the second-best forecaster of payroll gains over the last two years, according to data compiled by Bloomberg. “It’s just a very good cycle to be in right now for the United States.”
Quote:
Revisions to prior reports added 44,000 jobs to payrolls in the previous two months. To calculate the data, the Labor Department surveys businesses and households for the pay period that includes the 12th of the month.

The so-called participation rate, which indicates the share of working-age people in the labor force, held at 62.8 percent in November.
Quote:
A broad measure of joblessness that includes people who want to work but have given up searching and those working part-time because they cannot find full-time employment fell to a fresh six-year low of 11.4 percent from 11.5 percent in October.

The ranks of the long-term unemployed are also shrinking.
Quote:
The length of the workweek increased to an average of 34.6 hours, the highest since May 2008, from 34.5 hours in October


Bold mine

Better than expected . . Seems to confirm previous indications of a beginning of wage rebound! Ten consecutive months of significant jobs growth!

Biggest Payroll Gain in Almost Three Years Boosts U.S. Wages - Bloomberg
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Old 12-05-2014, 07:33 AM   #11
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But...but...what about Benghazi?
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Old 12-05-2014, 08:13 AM   #12
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O man . . another manufactured crisis down in flames ! ! . . the loonies are eating their own over the findings of the House Committee . . I suppose they will subpoena Issa????
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Old 12-05-2014, 02:00 PM   #13
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Hold on: Jobs report wasn't so great after all
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Old 12-05-2014, 03:10 PM   #14
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I almost quit reading when I read

Quote:
Friday's turbocharged jobs headline came thanks to seasonal adjustments and other wizardry at the Bureau of Labor Statistics
Anyone the least bit familiar with the report knows that it is prepared the same way that it has been for the last 50 years . .

How he got a increase of 4,000 explained by 115,000 on the unemployment line and 119,000, though the participation rate is a true exercise in data manipulation . . and then to further obfuscate the topic, he throws in some ridiculous comparison to the ADP report Wednesday . . which is rarely the same as the Labor Dept report. . and is totally irreverent to the discussion.

He does correctly point out that the report
Quote:
certainly present reasons if not for unbridled optimism then at least confidence that the job market continues to mend and is on a pretty steady trajectory higher.
. . which is exactly what I have been pointing out

You know it is clearly a good report, as shown by the absolute lack of any mention of it on Faux News . . but they did have a nice bit on Taylor Swift kissing some Victoria Secret Angle.
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Old 12-05-2014, 07:39 PM   #15
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Remember one person/organization opinion, maybe another person dribble.

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Old 12-05-2014, 08:27 PM   #16
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I agree with his assessment that it "certainly presents reasons if not for unbridled optimism then at least confidence that the job market continues to mend and is on a pretty steady trajectory higher". . .

Just can't understand some of his logic.

It's bad enough that someone not read the articles before commenting on them but one would expect the poster to read what he links to before he comments!
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Old 12-08-2014, 05:03 PM   #17
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Actually, When I read that article again . . it occurs to me that he is taking the Mickey to the "Yeah, but . . " crowd who always seem to find gloom in everything . . pretty slick job of doing it . . he trapped at least one
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Old 12-09-2014, 10:24 AM   #18
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The number of job openings in the United States rose to a near 13-year high in October, a hopeful sign for the U.S. economy and labor market.

Employers outside of the farming sector had 4.83 million jobs waiting to be filled during the month, up from 4.69 million in September, the Labor Department said on Tuesday.

Job openings across the U.S. economy have increased sharply since April, and the number of open slots in October was just shy of the 4.85 million jobs available in August, which was the highest reading since 2001.

While employers haven't been as quick to actually fill those openings, the increase in postings in recent months has coincided with other positive economic news that has made analysts more confident the economy is accelerating.

The number of available jobs could be making workers more confident to leave their current workplaces. The share of total employees opting to quit their jobs was 1.9 percent in October. That's a tenth of a point lower than in September, but this rate has also increased in recent months and now is at roughly the same level it was just before the 2007-09 recession.
Another indication that we are real close to having the recession in the rear view mirror!

U.S. employers are posting a lot more job openings | Reuters
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Old 12-09-2014, 06:56 PM   #19
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Quote:
Originally Posted by Old Rich View Post
Another indication that we are real close to having the recession in the rear view mirror!
Don't worry - the Republicans are ready and willing to drive us back into the ditch.
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Old 12-10-2014, 06:07 PM   #20
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They certainly seem to think that is a core competency . .

What's the adage . . . The best indicator of future performance is past behavior
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