Jobless Claims (Four-Week Moving Average) Fall for 16th Consecutive Week to a 15-Month Low
The Department of Labor reported today that initial claims for unemployment (4-week moving average) fell to 465,250 for the week ending December 19, which is the 16th consecutive weekly decline in claims, and the lowest level since the week of September 20, 2008, exactly 15 months ago (see chart above).
7 Comments:
FYI, an area chart would look more like a Christmas Tree. You know, fill in the area under the tree with green.
Anonymous: Thanks for the tip, I changed it....
Prof. Perry, Merry Christmas to you. I have really enjoyed your blog this last year.
Your optimism through this turbulent year may not have been infectious but it was most certainly correct.
Dr. Perry,
Thanks so much for your comments. Your blog is a blessing amidst the gloom and doom of the mainstream media.
Merry Christmas.
Dr. Perry, how about graphing total unemployment, a much more important indicator than weekly additions to unemployment. If few of those persons previously unemployed over the past two years got jobs, then even a low number of newly unemployed persons is bad. A total unemployment graph won't give the rosy picture shown in your graph. Instead, it will show that unemployment is ~50% greater than it was two years ago. The financial recession may be over, but a full economic recovery probably won't occur until 2011.
But that graph wouldn't make such a pretty tree, Dr. T.
Hmmm, I wonder what sort of politics (if any) goes into the reporting of these jobless claims numbers?
Courtesy of the Washington Examiner: UPDATED: 94,341 jobs 'not really created or saved' by the stimulus (and counting)
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