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Thursday, April 5, 2012

Jobless Claims Fall to Another Four-Year Low

Posted by on Thu, Apr 5, 2012 at 7:48 AM

It seems that every Thursday morning comes with a fresh round of disappointment for America-hating Republicans:

Initial claims for state unemployment benefits fell 6,000 to a seasonally adjusted 357,000, the lowest level since April 2008, the Labor Department said on Thursday.

New claims have fallen sharply in recent months, boosting expectations the end of a long cycle of heavy layoffs will lead to more hiring.

"You put this number with the other job numbers we have seen and they show the labor market continues to grow," said Stan Shipley, an economist at ISI International Strategy and Investment in New York.

Mitt Romney in particular pinned his electoral hopes to blaming President Obama for a floundering economy, and with every tick of gradual improvement those hopes get dimmer and dimmer. Tomorrow the March unemployment numbers come out, and most analysts expect it to hold steady at 8.3 percent. But unlike austerity-crazy Europe, there's little question that the US economy has turned around.


Comments (7) RSS

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Original Andrew 10
Turned around for whom, exactly? House values and household incomes are still dropping, and the labor participation rate of the total population is headed towards historic lows. Of course, the Richie$t Richie$ have more money now than ever before in human history, but the ranks of those in poverty and delaying starvation through food stamps have exploded.

Basing a re-election strategy on an economy in which 80% of Americans are still enjoying a Depression is a very dangerous game.
Posted by Original Andrew on April 5, 2012 at 12:27 PM · Report this
Anti-Obama oil speculators can keep driving up the price of gasoline to force us back into recession.
Posted by LMcGuff on April 5, 2012 at 10:09 AM · Report this
I'm surprised Bailo hasn't chimed in with his weekly "BUT WHAT ABOUT THE MILLIONS WHO HAVE DROPPED OUT OF THE JOB MARKET!?!" comment.

Or was that him @1?
Posted by COMTE on April 5, 2012 at 9:59 AM · Report this
Goldy 6
@5: Don't blame them. They just hate America.
Posted by Goldy on April 5, 2012 at 9:03 AM · Report this
Lissa 5
@1 & 2: Awwwww this just boils you bacon doesn't it?
Posted by Lissa on April 5, 2012 at 8:58 AM · Report this
Max Solomon 4
europe can still drag us back in the ditch. they're pulling harder, too.
Posted by Max Solomon on April 5, 2012 at 8:15 AM · Report this
"Ha, facts! You can keep your stinking facts. We have Fox, Norquist and Limbaugh to ridicule your facts, to scare people and to tell them what to think." -- Republicans
Posted by Brooklyn Reader on April 5, 2012 at 8:08 AM · Report this

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