Number of people receiving unemployment benefits running at 44-year lows

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1989TransAm
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Number of people receiving unemployment benefits running at 44-year lows

Post by 1989TransAm » Thu Apr 12, 2018 10:24 am

"The number of people receiving unemployment benefits is running at the lowest level in 44 years, the Department of Labor reported Thursday.
Altogether, 1.88 million people were receiving jobless benefits at the end of March. That was low enough to sent the monthly average for such claims down to 1.85 million, the lowest such mark since January of 1974, when the total workforce was much smaller.
Unemployment benefits are available for up to 26 weeks in most states. During the worst of the recession, as many as 6.5 million workers were getting unemployment insurance.
As for new claims for unemployment benefits, they dropped by 9,000 to 233,000 in the first week of April, according to Thursday's report.
That was about in line with the roughly 230,000 new jobless claims forecasters expected.
Low jobless claims are a good sign for the economy. They suggest that layoffs are rare. In recent months, the near-record-low numbers of claims have provided the strongest signal that the recovery is headed toward more growth and more job creation, not yet petering out.
Economists calculate that any number of new claims, adjusted for seasonal variations, below the 300,000 mark suggests that unemployment is falling. It's been more than three years since that level has been hit."

https://www.washingtonexaminer.com/poli ... -year-lows

RevTheory
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Re: Number of people receiving unemployment benefits running at 44-year lows

Post by RevTheory » Thu Apr 12, 2018 10:45 am

This is what an honest media would focus on.

Go Trump \:D/

mk e
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Re: Number of people receiving unemployment benefits running at 44-year lows

Post by mk e » Thu Apr 12, 2018 1:56 pm

RevTheory wrote:
Thu Apr 12, 2018 10:45 am
This is what an honest media would focus on.
They've been trying.....but you guys wouldn't listen.

The reason it's so important is it means the there aren't 94M people needing work, there probably aren't 10M....and without workers is very hard to make an economy grow much so claiming you can achieve growth rates similar to those we saw in population booms is nonsense.

The other and perhaps more important part of the story is underemployment which has become the new normal. Automation, outsourcing, contracting all make companies grow but cause average wages to fall.......and it's been getting worse every year for a couple decades now, last year is no exception.

So Yes, the media have covered it in detail if you cared to pay attention.
Mark
Mechanical Engineer

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