February 9, 2006

SEE WHAT TAX CUTS CAUSED?:

Jobless claims rise to 277,000: Smoothed average of new claims lowest in nearly 6 years (Rex Nutting, Feb. 9, 2006, MarketWatch)

The four-week average of seasonally adjusted new claims fell to 276,500, the lowest since April 2000. The average number of new claims is nearly 50,000 lower than it was for most of 2005.

"The low pace of jobless claims suggests that the labor market is expanding at a solid pace, and that the economy has been strong enough to absorb higher energy costs," said Sophia Koropeckyj, an economist for Moody's Economy.com. [...]

New filings in this range are consistent with steady job growth of 200,000 or more per month, economists say.

"Claims are a good leading indicator of the unemployment rate; these data suggest the rate will be nudging 4% by mid-summer," said Ian Shepherdson, chief U.S. economist for High Frequency Economics.

Meanwhile, the number of people receiving unemployment checks rose by 60,000 to 2.557 million in the week ending Jan. 28. The four-week average of continuing claims fell by about 34,000 to 2.54 million, the lowest since March 2001.


And Democrats think running against Bushonomics affords them a good opportunity to retake Congress?

Posted by Orrin Judd at February 9, 2006 11:58 AM
Comments

Note the headline.

Posted by: David Cohen at February 9, 2006 12:17 PM

Yeah. For reference a typical month is anywhere from 315,000 to 350,000.

Posted by: joe shropshire at February 9, 2006 12:20 PM

There was a hilarious column in the LA Times a few days ago that stated that America was on the verge of a French Revolution-style uprising from the vast masses who are seething at the horrible inequality of modern society. Of course, it was by Al Martinez, who for some reason writes political commentary in the Calendar section, but it was quite illustrative that lefties don't live on the same planet as the rest of us.

Posted by: b at February 9, 2006 12:39 PM

al's maid probably asked for a raise, or a day off, to cause him to smell revolution in the air.

Posted by: toe at February 9, 2006 1:14 PM

Here's a new web site that brought a smile to my face when it showed me just how poor I was.

Posted by: mc at February 9, 2006 3:01 PM

The title is baffling as it is exactly opposite what it should be.

Unemployment in the mid to low 4s in October/November can't be good news for the Dems.

Posted by: AWW at February 9, 2006 8:49 PM
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