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US weekly jobless claims drop below 500,000
By MARTIN CRUTSINGER AP Economics Writer
Published:
11/25/2009 7:47 AM
Last Modified: 11/25/2009 7:47 AM
WASHINGTON — The number of newly laid-off workers filing claims for unemployment benefits fell more than expected last week to the lowest level in over a year.
The concern is that the big improvement will be temporary as the weak economy continues to push unemployment higher.
The Labor Department says the number of people filing first-time claims for jobless benefits fell by 35,000 to 466,000. That was the lowest level for initial claims since the week of Sept. 13, 2008, and was far better than the 500,000 that economists had expected.
The number of workers receiving benefits also fell sharply, dropping 190,000, to 5.42 million, the lowest level for continuing claims since February.
By MARTIN CRUTSINGER AP Economics Writer
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Charley
, (11/25/2009 8:25:16 AM)
Once again the newspapers have used the numbers to minimize the struggle we are going through.
quote"The number of newly laid-off workers filing claims for unemployment benefits fell more than expected last week to the lowest level in over a year."
Wow, are we supposed to start cheering, because about 1,935,000 Americans are losing their jobs each month.
Do the math...
450,000 week x 4.3 weeks = 1,935,000
190,000 have dropped from the benefit rolls. What percentage of that number will lose their homes?
Report Comment
DaveMoore1
, North Charleston (11/25/2009 8:26:49 AM)
Good signs at the years end of President Obama's economic policies begining to turn around the devastation of joblessness brought about by Bush/Cheney and others like Tom Coburn. With newer initiatives like the new job creation panel taking place next year we'll be able to turn the corner on Republican mis-management of the last 8 years.
Report Comment
Daven
, Tulsa (11/25/2009 9:24:00 AM)
Well put DaveMoore1!! I could not agree more.
Report Comment
my view
, Sand Springs (11/25/2009 9:31:39 AM)
DaveMoore1,
MIS-MANAGEMENT, you haven't seen mis-management yet. When our monetary systems collapses under the weigth of government spending, never before seen in the history of our nation.
Record unemployment not seen since the Great Depression. It's only a matter of time before we are engulf in a wave of hyper-inflation. The New York Times the seat of liberal newspapers are already publishing their concerns.
You can hide behind the smokescreen of Bush/Cheney but when the smoke clears it will fall on the heads of this administration. You can continue to blame everything on Bush if you must. Time is fast approaching that the liberal media will not protect the left from the tidal wave that's coming.
The Obama administration ask for a stimulus and promised that unemployement wouldn't go over eight percent it's now at 10.2 percent and climbing, now there's talk of another. This recession is being prolonged by the current occupant of the White House, his inexperience is being to show.
Our only course of action is to change the landscape of Washington. The course corrections will start to take place in 2010 when the Democrats lose control of the House. There is more than a good chance the Senate will lose it's super majority.
MIS-MANAGEMENT by the Bush administration...bunk!
Report Comment
Daven
, Tulsa (11/25/2009 10:04:59 AM)
my view, How much of that government spending was spent for the Iraq war? Where was the townhall meetings about that? How many stimulus plans did Bush have in his adminstration?
I agree we need to "change the landscape of Washington". But if your only answer is that the Republicans control the house, then thats not really an answer now is it. Change needs to happen and I could care less which party is in control. Both parties need to put the American people first. Not thier party. Thats change.
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DaveMoore1
, North Charleston (11/25/2009 10:18:22 AM)
Previous Republican leadership quadrupled foreign workers in the U.S. and allowed millions of undocumented illegal aliens to flood our cities; created massive new governmental agencies such as TSA & DHS; brought about gun control (ie Brady Bill); led to massive home price failures and the S & L failures; and gave us massive debts from attempting to police the world. Senators such as Coburn, while working with the so-called conservative republicans to bankrupt the nation. So who, in their right mind would want to bring them back?
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my view
, Sand Springs (11/25/2009 10:41:10 AM)
Daven,
Working for the American people that would be change. At the moment they are not working for the people, their working for a liberal agenda that is not supported by the people.
The Democrats will wake up that fact and soon. There were some spending measures passed during Bush's final two years in office coming from a Democratic control congress. Primarly to help ward off a collapse of the housing industry. Brought on by Barney Frank and Chris Dodd, both Democrats in control of two committee's.
Where were the townhall meetings? They had them remember the townhall meeting pertaining to Social Security. Didn't hear an outcry from the left on those. Just one's pertaining to runaway spending and Obama's healthcare takeover. It was the same people, the elderly.
It's going to be the elderly that drives a stake though the heart of the Democrat Party in 2010 because they have more to loose, we vote and in mass.
How much has been spent in Iraq those numbers are easily found. As to date we have spent 932 billion on both wars. It pales to 2.5 trillion that Obama has added to government spending and maybe another one trillion if healthcare passes.
The amount of spending coming out of Washington today is a recipe for bankrupcy and you had better perpare for it. If you don't you and your family will suffer and there will be no government help.
Both parties have made mistakes no one would argue that point. Hopefully the Republicans have seen theirs. The Democrats have yet to see theirs and just keep plotting ahead, when the American people are telling to hold up.
Report Comment
my view
, Sand Springs (11/25/2009 10:55:54 AM)
DaveMoore1,
I can answer your last comment with one 'bunk'.
Report Comment
Daven
, Tulsa (11/25/2009 11:09:35 AM)
"Both parties have made mistakes no one would argue that point. Hopefully the Republicans have seen theirs."
How American....... One would hope that everyone would have seen thier mistakes and learned from them. Republicans, Democrats, and even the Independents. But as long as you are only rooting for your "team", Americans will only come second.
932 Billion and how many of our soldiers lost? I would rather spent the Trillion and no soldiers lost but thats just me.
Prepare for doomsday? Sad you believe all that media hype and ignore the positive. Recovery during the Great Depression was not overnight. But it happened and we can certainly pull out of this a better and stronger nation.
Report Comment
DaveMoore1
, North Charleston (11/25/2009 11:46:07 AM)
Republicans under Hoover gave us Okies the Dust Bowl & the Depression, made our veterans sleep on the Washington lawn rather than pay them. Same things they've gave us today. Democrats under FDR brought us work, social security, medicare, and prosperity after the ruination effects of a GOP administration; not much different than today.
Report Comment
Rimshot
, Corn, OK (11/25/2009 6:50:13 PM)
Gee, talk about spin. Who wrote this? Chairman Obama himself?
Report Comment
Rimshot
, Corn, OK (11/25/2009 6:51:34 PM)
The only thing the democrats have given us is socialism.
Report Comment
Rimshot
, Corn, OK (11/25/2009 6:52:57 PM)
This is a "big improvement"?
Report Comment
Rimshot
, Corn, OK (11/25/2009 6:59:02 PM)
The number of people receiving benefit "fell sharply" by 190,000 to 5.42M. That's about a 3% drop.
3% = "fell sharply" LOL!
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