Thursday, January 20, 2011

Jobless Claims Decline

The number of U.S. workers filing new claims for unemployment benefits fell by more than Keyensian economists expected last week .

Initial jobless claims fell by 37,000 to 404,000 in the week ended Jan. 15, the Labor Department said. It was the biggest decline in 11 months. The previous week's figures were revised to 441,000 from 445,000.

Economists, generally Keynesian, surveyed by Dow Jones Newswires had expected claims would drop by only 25,000 to 420,000.

1 comment:

  1. Maybe I am simply old school, maybe I am simply too focused on "real" numbers or maybe I am too logical in an illogical market environment.

    Since the week ending 12/4/10, the DOL has seasonally adjusted out over 1 mil initial jobless claims. For 7 consecutive weeks, the SA figure has been significantly below the NSA figure.

    Clearly the market only cares about the manipulated, fictitious SA (as long as it is better than expected) however, 1 mil more people actually filing a claims for unemployment has no impact on our core economy?

    http://tinyurl.com/4vs3zrh

    Vigilant Grandpa scratching my head...

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