When you include the growing numbers of unemployed discouraged workers in with the regular old unemployed, the total number of unemployed is still growing and is now over 20% of all workers.
PeakOil is You
So much for "sideways," jobless claims jump to 500k
Re: So much for "sideways," jobless claims jump to 500k
by Plantagenet » Thu 03 Nov 2011, 15:59:08
$this->bbcode_second_pass_quote('Plantagenet', 'A')ctually, we aren't at stagnation. Every month the Obama administration shifts workers from the unemployed category into the "discouraged worker" category, so they no longer show up in the statistics even though they are still unemployed.
When you include the growing numbers of unemployed discouraged workers in with the regular old unemployed, the total number of unemployed is still growing and is now over 20% of all workers.
When you include the growing numbers of unemployed discouraged workers in with the regular old unemployed, the total number of unemployed is still growing and is now over 20% of all workers.
Hi Oilfinder2:
The initial jobless numbers go up and down each month. This month they were below 400K.
The total number of unemployed, when you include the "discouraged workers" continues to increase each month.
Right now its almost gotten up to 23% of all workers----and thats comparable to unemployment last seen during the great depression
Total US unemployment now at ca. 23%---it has risen steadily for last three years and continues to rise
-
Plantagenet - Expert
- Posts: 26765
- Joined: Mon 09 Apr 2007, 03:00:00
- Location: Alaska (its much bigger than Texas).
Re: So much for "sideways," jobless claims jump to 500k
by Daniel_Plainview » Thu 03 Nov 2011, 16:04:52
$this->bbcode_second_pass_quote('OilFinder2', 'P')osted August 18.
$this->bbcode_second_pass_quote('OilFinder2', 'I')f initial unemployment claims (SA) start to head steadily upward, and regularly start hitting the mid-400's by, say, October or November, that is my "doom signal."
$this->bbcode_second_pass_quote('OilFinder2', 'I')f initial unemployment claims (SA) start to head steadily upward, and regularly start hitting the mid-400's by, say, October or November, that is my "doom signal."
With a 397K print today, and it being early November, my doom signal has yet to flash warning signs. If we were headed into another recession right now, claims would be going up. But they aren't.
Oh, I'm so glad you posted that ^^^^
First, the prior week's Initial claims were revised up to 406,000 from an original reading of 402,000. And every week they're revised upward by at least 4 or 5K.
Second, from your own beloved source:
$this->bbcode_second_pass_quote('', 'T')he level of weekly claims has hovered near the 400,000 mark for the past five months, reflecting slow progress for a U.S. economy still struggling to throw off shackles imposed during the 2007-09 recession. The economy isn’t even adding enough jobs to keep up with natural growth in the labor force — never mind put millions of unemployed Americans back to work. “While there has been slight improvement, the broad trend is still consistent with a lukewarm labor market and provides limited reason for renewed optimism among jobseekers,” said Jim Baird, chief investment strategist at Plante Moran Financial Advisors. ...
The U.S. probably needs to add at least 250,000 jobs a month over an extended period to ratchet down the unemployment rate, economists say. And the economy has to add at least 100,000 a month just to keep up with the natural growth in the labor force.
-
Daniel_Plainview - Prognosticator
- Posts: 4220
- Joined: Tue 06 May 2008, 03:00:00
- Location: 7035 Hollis ... Near the Observatory ... Just down the way, tucked back in the small woods
