Jobless claims, March 4 2010
From The Wall Street Journal Market Watch, March 4, 2010.
“Jobless claims fall 29,000 to 469,000”
“The number of people filing for initial unemployment benefits declined by 29,000 in the week ending Feb. 27 to a seasonally adjusted 469,000, the Labor Department reported Thursday.”
“Initial claims in the most recent week were about 8% higher than at the beginning of the year. Economists who follow the data aren’t sure if the increase reflects a weaker job market or is due primarily to non-economic factors, such as weather or backlogs.
The four-week average of initial claims — a better gauge of the trend than the volatile weekly number – fell by 3,500 to 470,750. Read the full report on the Labor Department website.
Meanwhile, the number of people receiving regular state jobless benefits declined by 134,000 in the week of Feb. 20 to a seasonally adjusted 4.5 million, the lowest in a year. More than half of the people who get state jobless benefits ultimately lose their eligibility, usually after 26 weeks, before finding a job.
The number of people who’ve been out of work for more than six months has surged during this recession to a record 6.3 million in January, accounting for 41% of the 14.8 million people officially classified as unemployed, according to monthly data previously released.”
Read more:
http://www.marketwatch.com/story/jobless-claims-fall-29000-to-469000-2010-03-04
Citizen WElls 
No matter what Soetoro tries to say, or do the job picture will NOT substantially improve until the American business climate improves,lines of credit are reestablished, and the threat of new taxes on small business is removed. Soetoro thinks that he can tax the hell out of American business. I say to them take your businesas OFFSHORE. This will get you a cheaper labor market, and keep Soetoro out of your billfold. When he is out of office then you can return without penalty.
I agree oldsalt78
I will repeat …….my neighbor said her sil in California has been receiving unemployment benefits for 3 years.
This is a great read….and since I don’t support Keynesianism, I agree with the writer.
Politicians Hopelessly Bad at Economics
http://www.marketoracle.co.uk/Article17621.html