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 | Period | Economic Survey | Actual Reported | Original Prior | Revised Prior |
Initial Jobless Claims | FEB 18 | 355K | 351K | 348K | 351K |
Continuing Claims | FEB 11 | 3455K | 3392K | 3426K | 3444K |
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
improving.
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
348,000.
Four-Week Average
The four-week moving average, a less-volatile measure,
declined to 359,000, also the lowest since March 2008, from
366,000.
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
Email: jbroussard@treasusry.state.la.us
No comments:
Post a Comment