US DOL: First Time Unemployment Claims down to 434,000 this week

8:30 A.M. (EDT), THURSDAY

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May 12, 2011

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In the week ending May 7, the advance figure for seasonally adjusted initial claims was 434,000, a decrease of 44,000 from the previous week's revised figure of 478,000. The 4-week moving average was 436,750, an increase of 4,500 from the previous week's revised average of 432,250.

The advance seasonally adjusted insured unemployment rate was 3.0 percent for the week ending April 30, unchanged from the prior week's unrevised rate of 3.0 percent.

The advance number for seasonally adjusted insured unemployment during the week ending April 30 was 3,756,000, an increase of 5,000 from the preceding week's revised level of 3,751,000. The 4-week moving average was 3,718,500, an increase of 13,250 from the preceding week's revised average of 3,705,250.

http://www.dol.gov/opa/media/press/eta/ui/eta20110683.htm

They never get these numbers correct. I can't imagine missing 44,000 people, but this is our system. Now look at that initial claims rate, any number over 400,000 means there is instability, is this 9 weeks in a row now. As far as EUC dropping off, many will not be picked up in EB, and they are not discouraged workers and should not be counted as such, just people who live in unlucky states, they just no longer are receiving EB because their state cut them off. NY's decrease in jobs, some 24,000+ is not looking good for the service industry. I hate these reports, they are always revised. I cannot believe we had this:

"In the week ending May 7, the advance figure for seasonally adjusted initial claims was 434,000, a decrease of 44,000 from the previous week's revised figure of 478,000. The 4-week moving average was 436,750, an increase of 4,500 from the previous week's revised average of 432,250."

Had I given my boss, revised reports every week, he would have fired me straight away.

Dazed

WHOA

They should just give us the U6 number from now on, things are getting weird. We are all discouraged not just the people who fell off EB or cannot get EB. YES WE ARE DISCOURAGED, ALL OF US. This makes me so mad, I can barely stand it.

Dazed&Confused wrote:They should just give us the U6 number from now on, things are getting weird. We are all discouraged not just the people who fell off EB or cannot get EB. YES WE ARE DISCOURAGED, ALL OF US. This makes me so mad, I can barely stand it.

They don't use the U6 number because the government doesn't want the people to know just how bad things really are in this country. It would be like adding energy and food to the inflation figures, showing that true inflation is really in the double-digits.

jmainframe wrote:

Dazed&Confused wrote:They should just give us the U6 number from now on, things are getting weird. We are all discouraged not just the people who fell off EB or cannot get EB. YES WE ARE DISCOURAGED, ALL OF US. This makes me so mad, I can barely stand it.

They don't use the U6 number because the government doesn't want the people to know just how bad things really are in this country. It would be like adding energy and food to the inflation figures, showing that true inflation is really in the double-digits.

Well Jmainframe, I am just no to happy about it and I am not happy about the way the reporters don't give us the truth, this country is gonna crash soon, and people ought to be prepared. Hey but we will still have a great military, we just gotta be the world police. Dazed