More BS from our government! They continue telling us lies in the hopes that our gullible masses will believe them, which unfortunately they more than likely will.
Our government simply wants people to go out and charge up their credit cards and buy houses they can barely afford so their criminal friends, CEOs and major stockholders in banks and other lending institutions, can load up on cash. This is cash which somehow miraculously finds its way into the pockets and pocketbooks of politicians; while also having a “funny way” of being transferred into votes.
Isn’t it ironic that our federal government bailed out banks and other large corporations such as General Motors by throwing billions of dollars at them, yet this same government taxes people on unemployment? Is this not criminal? What ever happened to a government “of the people, for the people”?
The reason unemployment claims have dropped is because our “wonderful” government is cutting back on unemployment benefits; NOT because people are finding jobs!!! Now we’re simply going to have people who are still unemployed but with no unemployment compensation… Brilliant! TGO
Refer to story below. Source: Reuters
WASHINGTON (Reuters) – New U.S. claims for unemployment benefits fell last week, a government report showed on Thursday, further evidence a material improvement in the labor market was under way.
Initial claims for state unemployment benefits slipped 6,000 to a seasonally adjusted 388,000 the Labor Department said. The government revised weekly claims data back to 2006 to take into account new seasonal factors.
The claims data falls outside the survey period for the government’s closely watched employment report for March, which is scheduled for release on Friday.
Nonfarm payrolls are expected to have increased a solid 190,000 after rising 192,000 in February, according to a Reuters survey, with the unemployment rate seen holding steady at a near two-year low of 8.9 percent.
The labor market is strengthening even though economic growth slowed somewhat early in the year, held back by bad weather and rising energy prices, after a fairly brisk pace in the fourth quarter.
Payrolls processing firm ADP Employer Services said on Wednesday private employers added 201,000 jobs in March.
U.S. stock index futures were little changed after the data, while government bond prices added to gains. The U.S. dollar fell against the euro.
Economists polled by Reuters had forecast claims edging down to 380,000. The prior week’s figure was revised up to 394,000 from the previously reported 382,000.
The four-week moving average of unemployment claims — a better measure of underlying trends – rose 3,250 to 394,250.
A Labor Department official said there was nothing unusual in the claims data. Claims have now held beneath the 400,000 level that is generally associated with steady job growth for three weeks in a row, with the four-week average below that mark for the fifth straight week.
The number of people still receiving benefits under regular state programs after an initial week of aid dropped 51,000 to 3.71 million in the week ended March 19, the lowest level since October 2008.
Economists had expected so-called continuing claims to fall to 3.70 million from a previously reported 3.72 million.
The number of people on emergency unemployment benefits dropped 38,838 to 3.59 million in the week ended March 12, the latest week for which data is available. A total of 8.77 million people were claiming unemployment benefits during that period under all programs.
In your introduction you claim to be a man of science. I would recommend that you spend some time studying economics. It is a fuzzy science but like all topics the more you study the more interesting it becomes.
You doubt the government statistics but you don’t offer very good explanation as to why you believe unemployment is static. My own experience is that the economy seems to be on an upswing and I think the BLS is following what I see.
Just to clarify, in my introduction I do not state that I am a man of science. I’m certainly no expert in any field of science, although I do enjoy reading and studying topics associated with various scientific fields.
My basis for doubting what our government tells us is based on history. Historically, the masses only know what those in power want us to know, and nothing more. Although off-topic, a simple example of this is the Kennedy assassination. Clearly he was not shot by Lee Harvey Oswald, at least not exclusively so. Yet we will probably never know who the true assassins were. We also did not invade Iraq because weapons of mass destruction were found there, although this is what was told to the American public.
Just as an example, I have been unemployed for just about 15 months, as have countless friends and former colleagues. The local office of my former employer, which has 55,000 employees worldwide, went from a steady count of 260-plus employees (architects, engineers, planners, project managers, construction managers, CAD operators, etc.) to its present staff of approximately 70. And there is little hope that they will hire anyone in the coming months as the economy is stagnant. I can’t tell you the number of people I personally know (myself included) who were making six-figure salaries and are now either unemployed, or forced to work at a supermarket or hardware store for close to minimum wage because there is little or no work in their industry/profession. Getting a job, just any job that happens to come along, is not what I consider an upswing in the economy.
By the way, the 70 individuals referenced above fortunate enough to still have a job are for the most part on a 32-hour a week schedule/salary and some of the less fortunate ones are only working 20 hours a week. Therefore, while technically still employed and not “contributing” to the statistics of the unemployed, they are certainly not in a good position. If these were other times I guarantee you that each and every one of these individuals would have left the firm for a full-time job in their field, but these jobs just do not exist.
Thanks for your input…