Current Events > US jobless claims hit 2-year high

(+) Yeah! (+)

https://markets.businessinsider.com/news/stocks/unemployment-claims-jump-highest-level-since-2017-labor-market-seasonal-2019-12-1028759209

The number of Americans applying for unemployment benefits jumped by the most in two years last week, but the sharp increase likely reflected seasonal volatility.

The Labor Department said Thursday that initial jobless claims rose 49,000 to a seasonally adjusted 252,000 in the week that ended December 7. That was the highest level since September 2017 and compared with forecasts for 212,000 claims.

The rise was likely driven by the Thanksgiving holiday, which could have interfered with government estimates. In the previous week, jobless claims dropped to a seven-month low. The less volatile four-week moving average rose by 6,250 to 224,000 in early December.

"Claims are likely to remain erratic over the holiday," said Ian Shepherdson, the chief economist at Pantheon Macroeconomics. "It's hard to enough to adjust monthly data, but weekly data around holidays which fall on different days of the week each year are impossible to adjust reliably."

More comprehensive measures have pointed to a solid labor market in recent weeks. In November, the economy added a robust 266,000 nonfarm payrolls and the unemployment rate fell to its lowest point in half a century.

So much winning
---

Don't say it!

---

lol Trump

---

I've been wondering for a little while now, but what fields were doing better during Trump's lowest unemployment periods?

---

Isn't the article saying the data now is unreliable....

---

Squall28 posted...

Isn't the article saying the data now is unreliable....

But all that winning
---

Okay see here's what the article doesn't tell you, from Donnie's Big Brain:
We were building the wall. The wall, y'know it's, well it's a great idea.
Okay? So it's a great idea, stops the illegal immigrants, stops the worse of the worse.
You know what the worse of the worse are? FRAUDSTERS
So these Americans that are claiming more benefits? Illegal immigrants. Now if we had the wall, which when we were building it, we had no problems with higher benefits so think back to that. Okay? Think back to the wall. The wall would have stopped this. Real Americans and I don't just mean Hulk Hogan (wait for the crowd to laugh), would have, haha (this is you laughing, you should laugh here), I know, I know. But they aren't, the real Americans aren't claiming these benefits. This is why the wall needs to go up.
---

Also unemployment stats that are based in people claiming unemployment benefits ignores a large portion of people who aren't working but don't claim benefits or people who arent working and claiming disability.

---

KStateKing17 posted...

I've been wondering for a little while now, but what fields were doing better during Trump's lowest unemployment periods?

Non good paying fields

Megaman50100 posted...

Also unemployment stats that are based in people claiming unemployment benefits ignores a large portion of people who aren't working but don't claim benefits or people who arent working and claiming disability.

Man with family was making 90k and loses that job. The only other job he can find is 40k. His wife and one of his kids get part time jobs for 10k each. That family probably loses their home and their lives are much worse. America treats this as a big win because now there are 3 jobs instead of 1!

The whole calculus is completely bullshit. What really matters is wages, which have been stagnant for decades as the buying power of the dollar tunnels towards the earth's core.

---

Crystal_pony posted...

But all that winning

Can't believe Trump pushed the unemployment lever during Thanksgiving dinner.

---