Unemployment sees biggest drop since last year

The number of Americans applying for unemployment benefits dropped by 42,000 last week to a seasonally adjusted 338,000, the biggest drop since November 2012.
Associated Press
Dec 27, 2013

 

But economists say the figures from late November and December are warped by seasonal volatility around the Thanksgiving, Christmas and New Year’s holidays.

The Labor Department reported Thursday that the less-volatile four-week average rose 4,250 to 348,000.

Claims had jumped 75,000 over the two weeks that ended Dec. 14 before plunging last week. The Labor Department struggles to account for seasonal hiring by retailers and other businesses and for temporary layoffs of cafeteria workers and other employees at schools that close for the holidays.

Hiring has been healthy the past four months. The economy added an average of 204,000 jobs every month from August through November, an improvement from earlier this year.

Comments

Darwin's choice

Two days in a row????? Amazing!!!

The Big Dog's back

Zoooooom. That's the economy taking off.

grumpy

Yes the economy is taking off. That is why spending is off for the month before Christmas. Please explain how the economy is "zooming" while spending is down? Bet we don't hear why from the piddle puppy. The president has taken good care of the 1% in his 5 years in office as has been shown by the stock market and earnings numbers. His effectiveness with helping blacks is shown by a higher percentage of unemployment compared to whites, lower incomes, while he has been in office. Fewer minoriteis in his cabinet. Is it because he is racist? His party has had the Senate since 06 and had the house for his first 2 years and this is how he thanks them for their votes? He did give us obamascare, the gift that keeps on giving. Are you ready for the tax increases starting next week? Remember we had to pass it so we could see what was in it. My how that has come back to bite Pelosi and the dims in the a$$.

To find confirmation on the unemployment and income of blacks you can search since the filter is on again. Check the number of minorities in the cabinet also, and while you are at it you can look for the obamascare taxes coming after the first of the year. Have a nice weekend.

coasterfan

America's GDP was up 4.1% during the 3rd Quarter, even higher than economists predicted, so, yes, the economy is continuing to improve. It would be one thing, if it were just the usual conservative predictions of gloom and doom, but we can't even get Republicans to acknowledge good news when it's easily observable.

Since you apparently have lost all sense of reality, let me help you by providing a pertinent frame of reference. In 2008, we were in the worst recession since the 1930's and were losing several hundred thousand jobs each month. If you truly think that America's economy is worse now, I have some oceanfront property in Kansas to sell you...

Darwin's choice

And the downward spiral has accelerated at a pace faster than any other administration in history.

Hows that obamacare doing there cheerleader?

Obama/fail

Contango

Re: "yes, the economy is continuing to improve"

And I've got a bridge in Norwalk to sell you.

According to the Fed. Reserve monetary policy is the key.

Good luck on winding down the $4T in credit created out of thin air sitting on their balance sheet.

Really are you ...

There is gonna be a 1.3 million drop in January. Who is gonna hurrah. I would be upset as heck. The millions of jobs we lost years ago, by that vacuum out of the United States. Humanitarian Aid to foreign countries, when are we gonna get back on our feet. Like foreign countries have their actresses on their televisions with a save The United States Fund. Like we have Alyssa Milano, for fifty cents a month...

2cents's picture
2cents

I dropped 10 since last year : (

Dr. Information

More reason to let unemployment benefits for 2 years end. All these jobs out there.