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Jobless Claims Fall, Inflation Stays Low
    #2014332 -

Jobless Claims Fall, Inflation Stays Low
Thu October 16, 2003 09:12 AM ET

By Anna Willard
WASHINGTON (Reuters) - The U.S. jobs market is showing signs of improvement and inflation remains low in the economy outside the energy sector, government reports on Thursday said.

The number of Americans filing an initial claim for jobless benefits fell last week to the lowest level since early February, the Labor Department said, a hopeful sign for job seekers.

Underlying inflation, stripping out volatile food and energy costs rose 0.1 percent in September, in line with expectations. Over the last 12 months, the core CPI has risen just 1.2 percent, the smallest increase since February 1966, the department said.

"By and large these numbers so far today show a strong economy," said Pierre Ellis, senior international economist at Decision Economics.

First-time filings for state unemployment aid fell 4,000 last week to 384,000 from the previous week. The number was broadly in line with analysts' expectations that claims would be 388,000.

"The jobless numbers were certainly encouraging. We got a decline and it suggests that the labor market is recovering," said Parul Jain, Nomura Securities International.

It was the second week in a row that claims came in under 400,000. Economists say claims above 400,000 suggest a deteriorating jobs market.

The drop also brought a decline in the closely watched four-week moving average of initial filings, seen as more reliable because it irons out weekly fluctuations.

The department said the average fell 4,250 to 390,750, also the lowest since early February.

While the report suggested layoffs are slowing, it also showed unemployed workers are still having a tough time finding new jobs. For the week ended Oct. 4, the number of Americans claiming benefits after filing an initial claim climbed 58,000 to 3.67 million.

The labor market has lagged other areas of the economy. But recent reports have been encouraging for job seekers. In September, the economy created 57,000 new jobs, the first increase in eight months.

INFLATION AS EXPECTED

Analysts said the inflation report was consistent with expectations and recent reports indicating inflation is low.

"Underlying inflation has clearly stabilized. Meanwhile concerns that inflation will decelerate much further are eased by the fact that some service prices continue to rise quite sturdily," said Ellis.

The overall Consumer Price Index, the most widely used gauge of U.S. inflation, rose 0.3 percent in September, just above analysts' forecasts for a 0.2 percent climb.

Helping to boost the overall number was a 6.3 percent increase in gasoline prices, the fastest pace since a 9.9 percent jump in February. Energy costs were up 3.0 percent.

Among the core rate, clothing prices rose 0.5 percent in September, the largest increase in over a year. But new car prices fell 0.4 percent, the largest drop since the beginning of the year, and airline fares sank 1.8 percent.

A separate report from the Commerce Department showed companies continue to pare inventories. Stocks at U.S. businesses in August dropped a larger-then-expected 0.4 percent, reflecting a large drop in automobile stocks.

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Re: Jobless Claims Fall, Inflation Stays Low [Re: wingnutx]
    #2014681 -

I think most everyone's already lost their job.

not many more left to lose.

but that's great about inflation and all...


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All I know is The Growery is a place where losers who get banned here go.

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Re: Jobless Claims Fall, Inflation Stays Low [Re: afoaf]
    #2015142 -

Heh.


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Re: Jobless Claims Fall, Inflation Stays Low [Re: afoaf]
    #2015463 -

Uh, yeah. Current US unemployment rates are high for the US, but would be considered low for most of the world.

Take Europe, for example:

http://www.ibeurope.com/Database/Resources/R041unemp.htm

France and Germany would love to have a rate as low as ours. EVen with their 35 hour work week they are half-again as high ours.

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Re: Jobless Claims Fall, Inflation Stays Low [Re: wingnutx]
    #2015966 -

talk about lowering the bar.

do we strive only to be better than europe?


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All I know is The Growery is a place where losers who get banned here go.

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Re: Jobless Claims Fall, Inflation Stays Low [Re: afoaf]
    #2015982 -

Just lending some perspective, especially when I see the claim on here periodically that Europe has a comparatively vibrant economy and job market.

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Re: Jobless Claims Fall, Inflation Stays Low [Re: afoaf]
    #2016420 -

Yeah, Europe's like a third world country and shit.

Who would we compare ourselves to?


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https://www.gofundme.com/f/support-for-renee-goods-wife-and-son

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Re: Jobless Claims Fall, Inflation Stays Low [Re: Baby_Hitler]
    #2016482 -

The only parts of Europe that are third world is the eastern block really.

Our standard of living is somewhat comparable to western Europe.


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People think that if you just say the word "hallucinations" it explains everything you want it to explain and eventually whatever it is you can't explain will just go away.It's just a word,it doesn't explain anything...
Douglas Adams

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Re: Jobless Claims Fall, Inflation Stays Low [Re: monoamine]
    #2016590 -

Most houses in America have a microwave, a range, an oven, a fridge/freezer, and a television. I'd say that most places in Western europe don't have all of these items.


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In response to an attack killing 15 American Servicemen
PsiloKitten said:
Just give em a little more time, the iraqis are making great progress. And this is unorganized. Wait till they get organized.

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Re: Jobless Claims Fall, Inflation Stays Low [Re: lysergic]
    #2016695 -

BWAHAHAHAHAHAHA.


This is ridiculous.


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Re: Jobless Claims Fall, Inflation Stays Low [Re: lysergic]
    #2016742 -

Well, I don't know the percentage of houses in Europe with air conditioning, except that apparently France hasn't got enough, and my German friends tell me almost no one in Germany has air conditioning -- not even in offices, and I don't know how many have microwaves, but I did manage to find out how many poor Americans have air conditioning and microwaves.

Excerpted from http://www.humaneventsonline.com/article.php?id=2060

The following are facts about the 35 million Americans defined as "poor" by the Census Bureau, taken from various government reports:

* Forty-six per cent of all poor households actually own their own homes. The average home owned by persons classified as poor by the Census Bureau is a three-bedroom house with one and a half baths, a garage and porch or patio.

* Seventy-six per cent of poor households have air conditioning. By contrast, 30 years ago only 36% of the entire U.S. population enjoyed air conditioning.

* Only 6% of poor households are overcrowded. More than two thirds have more than two rooms per person.

* The average poor American has more living space than the average individual living in Paris, London, Vienna, Athens and other cities throughout Europe. (Note: These comparisons are to the average citizens in foreign countries, not to those classified as poor.)

* Nearly three-quarters of poor households own a car; 30% own two or more cars.

* Ninety-seven percent of poor households have a color television. Over half own two or more color televisions. Seventy-eight percent have a VCR or DVD player. Sixty-two percent have cable or satellite TV reception.

* Seventy-three percent own microwave ovens; more than half have a stereo, and a third have an automatic dishwasher.

* As a group the poor are far from being chronically undernourished. The average consumption of protein, vitamins and minerals is virtually the same for poor and middle-class children, and in most cases is well above recommended norms. Poor children actually consume more meat than do higher-income children and have average protein intakes 100% above recommended levels. Most poor children today are in fact super-nourished, on average growing up to be one inch taller and ten pounds heavier than the GIs who stormed the beaches of Normandy in World War II.

I figure if the poorest 35 million Americans live like this, the average American must be even better off in terms of material comforts. Of course, this is not to say they must be spiritually better off than Western Europeans.

pinky


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Re: Jobless Claims Fall, Inflation Stays Low [Re: wingnutx]
    #2017031 -

Free Trade Means America?s Biggest Export is its Jobs

by Rep. Bernie Sanders

Our economy has been decimated by ?free? trade, and someone has to point out that, like the proverbial naked emperor, our policies have no clothes ? or more appropriately in this context, no jobs making clothes, or electronics, or a host of other products we use every day.

Unsurprisingly, proponents of an unfettered free-trade seem unwilling to admit the error of their ways. This group, which includes virtually all of corporate America, every major editorial board, as well as Presidents George H.W. Bush, Bill Clinton, George W. Bush and Ronald Reagan, has told us for decades how many new jobs free trade would create here at home. Now the evidence is in and guess what ? they were dead wrong. The exact opposite is true.

Largely because of our trade policies, manufacturing is in a state of collapse. In the past three years, we have lost 2.7 million manufacturing jobs, 16 percent of the total. At 14.7 million, we are at the lowest number of factory jobs since 1958.

In 2002, the United States bought $435 billion more in goods and services made in other countries than products and services made in the United States. And this year, the deficit with China alone is expected to be $120 billion, and getting worse. The National Association of Manufacturers estimates that the deficit will grow to $330 billion in five years.

Our disastrous trade policy is not only costing us millions of decent jobs but has put enormous downward pressure on wages as workers compete for an ever-shrinking pool of jobs. Despite huge increases in productivity, real wages for private-sector employees have dropped 8 percent since 1973. The average American is working longer hours for lower wages and most middle-class families now require two breadwinners to pay the bills. For entry-level workers without a college education, the situation is far, far worse. Their real wages have dropped more than 20 percent in the past 25 years.

The demise of well-paid manufacturing jobs is best illustrated by the following: 20 years ago, the largest private employer in the United States was General Motors, where workers earned ? and still earn ? a good income. Today, our largest employer is Wal-Mart, where workers earn below-poverty wages.

It didn?t take a genius to predict that unfettered free trade with China would be a disaster. With Chinese employees available at 50 cents an hour, and with the ability to bring their Chinese-made products back into this country tariff-free, why wouldn?t American corporations shut down their plants in this country and move to China? Should anyone be surprised that Motorola eliminated 42,900 American jobs in 2001 and invested $3.4 billion in China? Who is shocked that General Electric threw tens of thousands of American workers out on the street while investing over $1.5 billion in China? Honeywell is a sophisticated company. Why wouldn?t we expect them to build 13 factories in China?

..snip


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Re: Jobless Claims Fall, Inflation Stays Low [Re: Phred]
    #2017200 -

Damn, If that's "poor" I must be "Uber-Poor".

I don't own a house, I drive a $2000 truck, and my bedroom is smaller than some closets (7' X 12'). I made $3000 last year.

I should be able to get free blowjobs from any libbie on demand.


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https://www.gofundme.com/f/support-for-renee-goods-wife-and-son

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Re: Jobless Claims Fall, Inflation Stays Low [Re: Baby_Hitler]
    #2017569 -

I'm not going to comment on US unemployment vs. unemployment in Europe, as that is apples and oranges.

However, I posted a story (replete with juicy numbers) a month or so ago that points out the following: While new and first-time unemployment claims are, in fact, dropping, this is not because more people are finding jobs. The numbers do not take into account the people who have no jobs, who have run out of unemployment benefits, and who have no job prospects. These ghostly-unemployed are not factored into the current unemployment rate of 6.1%. When these people ARE factored in, that number magically becomes 9.1%.

As someone who until yesterday fell into that shadow 3%, I can tell you from personal experience... the market is not getting better. It may have stopped getting worse... but it's damn sure not getting better.


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There is no flag large enough to cover the shame of killing innocent people.
  --  Howard Zinn

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Re: Jobless Claims Fall, Inflation Stays Low [Re: Baby_Hitler]
    #2017653 -

heretoforth I would like to be considered conservative.


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All I know is The Growery is a place where losers who get banned here go.

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Re: Jobless Claims Fall, Inflation Stays Low [Re: Phred]
    #2017918 -

damn, your makin me feel super poor!

I rent a 500 sq ft apartment. A 3 bedroom house would be paradise.

I don't get no cable TV either.

My AC is always broken and getting the landlord to fix it is kinda tricky cuz I owe them back late fees.

And I usually consume less than 2000 calories a day.

Even if you factor in the aid I get from my parents, my income is less than $10,000 a year. (My parents wealth and the fact that I am their dependent disqualifies me for financial aid from the government)

I work between 20-30 hours a week, go to school for 13 hours a week, and spend about 6 hours a week studying or doing homework.


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