- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Unemployment claims fall to lowest level in 43 years, despite hurricanes
Posted on 10/12/17 at 12:06 pm
Posted on 10/12/17 at 12:06 pm
quote:
Unemployment claims fall to lowest level in 43 years, despite hurricanes washingtonexaminer.com
by Joseph Lawler | Oct 12, 2017, 8:31 AM Share on Twitter
The total number of laid-off workers receiving unemployment benefits fell to 1.89 million at the end of September, the Department of Labor reported Thursday, the lowest such mark in nearly 44 years.
And new claims for unemployment benefits dropped 15,000 to 243,000 in the first full week of October, according to the agency, as the job market bounces back from hurricane damage even faster than forecasters expected.
Low new jobless claims are a good sign. They indicate that layoffs are rare, and accordingly that job creation is strong.
Unemployment benefits are available for up to 26 weeks in most states. Fewer people are now receiving benefits of all duration than at any time since December of 1973, when the total workforce was much smaller. That is a reflection of the strength of the jobs market, and the availability of new positions for laid-off workers.
Prior to the landfall of Hurricanes Harvey, Irma, and Maria, claims had been running at ultra-low rates. With Texas and Florida now recovering, new claims again appear to be sinking to levels that indicate robust job creation. First-time claims in the states most affected by the storms are still high, but have fallen in recent weeks.
"The data suggest that payrolls will bounce back quickly after last month's hurricane-related weakness and that the underlying trend in employment growth remains strong -- more than strong enough to keep the unemployment rate declining," noted Jim O'Sullivan, chief U.S. economist for High-Frequency Economics.
Economists calculate that new claims below the 300,000 mark indicate that unemployment will remain stable or fall.
Good claims numbers, which are released weekly, are one of the factors that will reassure officials in the Trump administration and at the Federal Reserve that the jobs recovery is intact, even though the hurricanes generated net job losses in September.
Minutes from the Fed's September monetary policy meeting, released Wednesday, suggested that the central bank still sees the economy as healthy enough to justify raising rates again this year.
This post was edited on 10/12/17 at 12:07 pm
Posted on 10/12/17 at 12:07 pm to someoneBEE
Fake News because RUSSHUH
Posted on 10/12/17 at 12:07 pm to someoneBEE
Wait for it - because they couldn't get to the office to file their claims.
Posted on 10/12/17 at 12:07 pm to someoneBEE
He is killing the free handouts!
Impeach him now!
Impeach him now!
Posted on 10/12/17 at 12:13 pm to someoneBEE
quote:
And new claims for unemployment benefits dropped 15,000 to 243,000 in the first full week of October, according to the agency, as the job market bounces back from hurricane damage even faster than forecasters expected.
Amazing how hindsight is becoming so prevalent with the media today. They'll be touting themselves as media sages before long.
Posted on 10/12/17 at 12:23 pm to someoneBEE
quote:Good deal.
Unemployment claims fall to lowest level in 43 years
Posted on 10/12/17 at 12:58 pm to someoneBEE
Good news. Better news will be the job participation rate increasing the same or more in the same time frame
Popular
Back to top
Follow TigerDroppings for LSU Football News