getting there?

Bloomberg: The number of workers filing first-time claims for unemployment insurance payments fell last week in the U.S., showing the labor market continues to improve.

Applications for jobless benefits decreased to 421,000, less than the median forecast of economists surveyed by Bloomberg News, from a revised 438,000 the prior week, Labor Department figures showed today. The four-week moving average, a less-volatile measure, dropped to the lowest level in more than two years.

Companies are holding on to more workers as sales improve and expectations for growth brighten… “The labor market is moving in the right direction, slowly but surely,” said Ryan Sweet, a senior economist at Moody’s Analytics. “Things look a little better than they first appeared, but we’re still not creating enough jobs to lower the unemployment rate.”

The number of people continuing to collect jobless benefits fell by 191,000 in the week ended Nov. 27 to 4.09 million. They were forecast to fall to 4.24 million.

The unemployment rate among people eligible for benefits, which tends to track the jobless rate, dropped to 3.2 percent in the week ended Nov. 27, the lowest in two years, today’s report showed.

Full article here

2 Responses to “getting there?”

  1. 1 theo67
    December 9, 2010 at 12:21 pm

    Congressional Democrats have decided to “defy” the President and are refusing to hold a vote for the tax cut deal until changes are made. I also heard Weiner saying that the President hasn’t fought for anything in the past year.

    If these people in Congress who profess to be the people’s party, the ones who represent the working masses, the ones who are for liberal causes and claim to be all about the piight of the “least of us” – if they screw up this deal and we end up with no stimulus, no tax cuts (especially for the lowest tax bracket who are facing a 50% increase in their tax rate), no support for parents or college going kids, no support for businesses to spend some of that $2 trillion they’re holding up, well then, God help us all.

  2. 2 Kelly
    December 9, 2010 at 3:44 pm

    Well with the grace of God and a smart pragmatic President we are getting there. I am happy for those folks getting work.

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