Thursday, February 23, 2012

It's The Economy Stupid: Jobs

The trend is your friend.  And the jobless numbers are trending downward.  Now, we are not exactly creating and/or hiring millions of new jobs, but compared to a year ago, we are in a much better place.


Economic Event


Economic Survey

Actual Reported

Original Prior

Revised Prior

Initial Jobless Claims

FEB 18





Continuing Claims

FEB 11






Federal Reserve Bank of Dallas President Richard Fisher this morning: 

“QE3 is a Wall Street fantasy.” 

“Our job is not to prop up Wall Street.”

“Improved data indicates to me there’s no need for a QE3.”

“Our job at the Fed is to be cautious, to make sure we take correct steps.”  

“The Economy is improving, but not enough new hiring taking place.”

“Things are moving better than numbers suggest.”



Wire: BLOOMBERG News (BN) Date: Feb 23 2012  7:30:01

Initial Jobless Claims in U.S. Held Last Week at 351,000



By Alex Kowalski

     Feb. 23 (Bloomberg) -- The number of Americans filing

first-time claims for unemployment insurance payments last week

held at a four-year low, more evidence the labor market is


     Applications for jobless benefits were unchanged in the

week ended Feb. 18 at 351,000, the fewest since March 2008,

Labor Department figures showed today. The median projection in

a Bloomberg News survey called for 355,000 claims, marking the

fourth straight week that the figures have been better than

forecast. The number of people on unemployment benefit rolls

dropped to the lowest level since August 2008.

     Estimates for first-time claims ranged from 330,000 to

370,000 in the Bloomberg News survey of 47 economists. The Labor

Department initially reported the prior week’s applications at



                       Four-Week Average


     The four-week moving average, a less-volatile measure,

declined to 359,000, also the lowest since March 2008, from


     The number of people continuing to collect jobless benefits

dropped by 52,000 in the week ended Feb. 11 to 3.39 million. The

continuing claims figure does not include the number of workers

receiving extended benefits under federal programs.

     Those who’ve used up their traditional benefits and are now

collecting emergency and extended payments decreased by about

69,000 to 3.41 million in the week ended Feb. 4.

     The unemployment rate among people eligible for benefits,

which tends to track the jobless rate, held at 2.7 percent in

the week ended Feb. 11, today’s report showed. Forty-eight

states and territories reported a decrease in claims, while five

had an increase.


John Broussard

Assistant State Treasurer

Chief Investment Officer

State of Louisiana

Department of the Treasury

Ph:  225-342-0013

Fx:  225-342-9721



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