Jobless claims climb for 4th week ... now higher than when Obama left office

Discussion in 'Too Hot for Swamp Gas' started by WarDamnGator, Jan 11, 2018.

  1. WarDamnGator
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  2. G. Gordon Gator
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    Being a patriotic American who cheers for good news, not bad news, I prefer to focus on the more positive aspects of the CNBC article:

    The increase [in jobless claims] likely does not suggest a material shift in labor market conditions as claims data tend to be volatile during year-end holidays. ... Last week marked the 149th straight week that claims remained below the 300,000 threshold, which is associated with a strong labor market. That is the longest such stretch since 1970, when the labor market was much smaller.

    The labor market is near full employment, with the jobless rate at a 17-year low of 4.1 percent. Last week, the four-week moving average of initial claims, considered a better measure of labor market trends as it irons out week-to-week volatility, rose 9,000 to 250,750.

    The continuing low level of claims suggests a strong labor market. The pace of job growth is, however, expected to slow this year as the labor market hits full employment. Nonfarm payrolls increased by 148,000 jobs in December after surging by 252,000 in November.

    Thursday's claims report also showed the number of people receiving benefits after an initial week of aid dropped 35,000 to 1.87 million in the week ended Dec. 30, the lowest level since December 1973. The four-week moving average of the so-called continuing claims fell 5,500 to 1.91 million.
    :):):)
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  3. JerseyGator01
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    Community Organizers usually aren't very good at creating jobs.
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  4. VAg8r1
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    Seems that more jobs were created under the POTUS who was a "Community Organizer" than under the one who was previously (and probably still is) a reality tv star and sleazy real estate developer.
    [​IMG]
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  5. grumpygator77
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    My customers are all balking at costs. The noose is tightening around the middle class.
    I have 26 years in business. I have a lot to compare this to. Posting rosy numbers means nothing to the real world effects.
    For us in the "trenches" things are not getting better.

    You want to know when my most profitable years were? Clinton administration.
    Not what you wanted to hear, I know.
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  6. kygator
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    There will always be some businesseses and people that struggle no matter how the rest of the country is doing. I’m sorry your business is struggling but that doesn’t mean we should dismiss other indicators as meaningless.
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  7. lacuna
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    lacuna The Conscience of Too Hot VIP Member

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    My apology if I missed it in an earlier post - what sort of business do you own or operate?
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  8. oragator1
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    oragator1 Premium Member

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    Yeah, it’s worth watching, but between the holiday and the weather issues, not terribly concerning at this point given the other data out there.
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  9. grumpygator77
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    I'm sorry but I'm kind of guarded about info on the internet. Suffice to say, it's a business that involves "projects". Clients are getting put off more and more to undertake theirs once a review of the costs are predicted.

    My costs are increasing constantly. Orders come in for materials and in as little as 30 days, the same materials have increased anywhere from 30% to in some cases 80%. To add, having good quality employees is costing more since they too have to "make it" in this economy. Quality people are essential and paying them well is the most beneficial way to keep them happy. And I pay well. Customers are seeing that their money is not buying them what they thought it would as little as a year ago. Therefore, fewer commitments, lower profits, and the snowball effect begins...

    But the large corporations that just got the huge tax cut, well they just keep raising my material costs.:(
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  10. grumpygator77
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    grumpygator77 GC Legend

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    Certainly correct on that. No need to dismiss all indicators. But the indicators don't always reflect reality-- or which realm the indicators are describing.

    Any General will tell you the best laid out plan based on stats, can be completely invalid once the boots hit the ground.
  11. docspor
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    Well China tries to sell us subsidized steel ( the Chinese cover a portion of the cost)!!!! We yell dumping!!

    It’s like that direct TV commercial where people prefer crappier outcomes.

    Canada tries to sell us subsidized lumber. We yell dumping & put a tariff on it. o_O
  12. g8tr80
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    Honest question, as people attempt to jump back into the labor market, wouldn't that tend to spike the unemployment rate a bit? I have a hard time with the unemployment rate as it is described by the Labor Department. If you quit looking for work after...what?.... six weeks? you are removed from the unemployment statistics and you become a non person. A nothing. Never sat well with me.
  13. WarDamnGator
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    This is new jobless claims, though, not continuing unemployment. Basically, people who had jobs, but were recently laid off, fired, store closed, etc.
  14. flgator2
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    So if what you're reporting is true then Trump enforcing our existing laws and deporting those here illegal should help those who just lost her jobs.
  15. danmann65
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    The government compiles a lot of stats. If you go to the dept of Labors website you will find almost any imaginable way to count the unemployed.
  16. Minister_of_Information
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    Minister_of_Information God Emperor Premium Member

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    You mean the GHWB economy?

    Just kidding.
  17. WarDamnGator
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    Yes, Absolutely. From what I've hearing there may be a few openings for the 7-11 nightshift and a quite a few strawberry picking jobs opening up. MAGA!
  18. flgator2
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    That's a good start
  19. gatorknights
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    I've been honing up on my Slurpy skills so I can knock down that number a bit.
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