May 10, 2018

Four-Week Average of Unemployment Claims Hits 49-Year Low

Filed under: Economy,Taxes & Government — Tom @ 10:03 pm

From the Department of Labor:

SEASONALLY ADJUSTED DATA

In the week ending May 5, the advance figure for seasonally adjusted initial claims was 211,000, unchanged from the previous week’s unrevised level of 211,000. The 4-week moving average was 216,000, a decrease of 5,500 from the previous week’s unrevised average of 221,500. This is the lowest level for this average since December 20, 1969 when it was 214,500.

… UNADJUSTED DATA

The advance number of actual initial claims under state programs, unadjusted, totaled 190,084 in the week ending May 5, an increase of 3,633 (or 1.9 percent) from the previous week. The seasonal factors had expected an increase of 3,590 (or 1.9 percent) from the previous week. There were 215,040 initial claims in the comparable week in 2017.

The DOL’s data website only contains “covered employment” data going back to 1971, when that figure was 53.221 million. If that figure was the same in late December 1969, claims as a percent of the covered workforce were 0.403 percent (214,500 divided by 53.221 mil).

Thursday reported claims of 216,000 amounted to 0.1527 percent of the current covered workforce of 141.433 million.

These extraordinarily strong results appear to indicate that most people who are losing their jobs are finding new ones so quickly that they don’t need to apply for unemployment benefits.

The current level of claims is about 30 percent lower than the 300K-325K level that has traditionally been considered necessary to foreshadow a lower unemployment rate.

NBC’s Hallie Jackson Whines: Hostage Release ‘Choreographed’ and ‘Staged Production’

UPDATE, 10:15 p.m.: It’s always nice when a NewsBusters post by yours truly makes Twitchy.
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Thursday morning, Hallie Jackson, NBC’s White House correspondent, acted as if President Donald Trump had just invented political choreography, and that no previous presidential administration or politician has ever engaged in it. Jackson spent an inordinate amount of time describing the President’s greeting of the three U.S. hostages released by North Korea as a “staged production” presented by a “former reality show producer.”

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Thursday Off-Topic (Moderated) Open Thread (051018)

Filed under: Lucid Links — Tom @ 6:00 am

This open thread is meant for commenters to post on items either briefly noted below (if any) or otherwise not covered at this blog. Rules are here.

Positivity: Hostages Released by North Korea Issue Statement

Filed under: Positivity,Taxes & Government — Tom @ 5:55 am

From the U.S. State Department:

FreedNoKoHostagesStatement050918