Professor Mark J. Perry's Blog for Economics and Finance
Weekly jobless claims fell for the 11th straight week to 514,000 (four-week moving average), reaching the lowest level in a year (since November 15, 2008), according to today's report from the Department of Labor (see chart above).
Dr. Mark J. Perry is a professor of economics and finance in the School of Management at the Flint campus of the University of Michigan. Perry holds two graduate degrees in economics (M.A. and Ph.D.) from George Mason University near Washington, D.C. In addition, he holds an MBA degree in finance from the Curtis L. Carlson School of Management at the University of Minnesota. In addition to a faculty appointment at the University of Michigan-Flint, Perry is also a visiting scholar at The American Enterprise Institute in Washington, D.C.
6 Comments:
How much of that decrease is from people who have run out of benefits? Without that number this is meaningless.
As a sustained decrease in jobless claims is a hallmark of every economic recovery, I hardly think that this "number is meaningless".
Barely over 1/2 million jobs lost. Tell me people would have been ok with that 2 years ago. After the easy cuts, at some point you run out of people to fire.
It is not an ideal situation but this is not net job losses either. These job losses may be offset in part by new hires. I agree that the Obama administration is totally inept and is actively pursuing policies which discourage businesses from hiring and impede economic growth. I am simply saying that things appear to be a little less worse than before based on these numbers.
But does this take into account decreases in pay (or at least a lack of increases), moves to part-time jobs, compensation for loss of private jobs by new public jobs, discouraged workers, etc.?
But unemployment is still rising. Hmmmmm.
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