Archive for unemployment

GOP wrong again: Weekly jobless claims fall, budget deficit shrinks #BlameObama

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what you know, wrong

This is getting tedious, but a blog's gotta do what a blogs's gotta do. Republicans, you're wrong again. Wrongier than wrong. Wrong wrong wrong:

Via the Los Angeles Times:

The federal deficit continues to decline thanks to budget cuts and slower growth in Medicare costs, but lower than expected corporate tax revenues dimmed some of the improved outlook, according to a report Wednesday from the Congressional Budget Office.

And Benen piles on. More at the link:

This remains a basic budgetary truism that Republicans continue to resist. Indeed, last year, when top marginal rates increased on households making more than $400,000 a year, a variety of GOP lawmakers argued that this would likely cause the deficit to go up – as they saw it, higher taxes on the wealthy would slow growth, which would mean fewer jobs, which would mean fewer people paying income taxes, which would mean a larger deficit.

And we now know they were wrong – again – though this will probably do nothing to shake the Beltway perception of the GOP as the “fiscally responsible” party.

Let’s also note that the shrinking deficit – we’re seeing the fastest reduction since the end of World War II – is also one of the nation’s best-kept secrets. [...] [T]he reality is, we’re witnessing deficit reduction at a truly remarkable clip. Every conservative complaint about fiscal recklessness and irresponsibility in the Obama era is completely divorced from reality.

but wait there's more smaller

Per the most reliable news source in the whole wide world, Fox Biz, comes this upbeat news via a couple of email alerts:

The number of Americans filing for first-time unemployment benefits fell last week to 298,000 from an upwardly revised 299,000 the week prior. Economists expected claims to rise to 300,000 from an initially reported 298,000.

The Commerce Department reports the economy expanded at an annualized pace of 4.2% in the second quarter, higher than an original estimate of 4%, also beating expectations of 3.9%.

the more you know msnbc bergdahl

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Dep't. of What? Again? Weekly Jobless Claims Fall More than Expected #BlameObama

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quickie23 jobless claims

Today's jobless claims Quickie:

I know what you're saying: What? Again? Yes, again. There is more good news about jobless claims. Yes, despite Republican Congress members blocking everything blockable, we are seeing jobless claims continue to drop under President Obama's watch.

Bummer, huh?

Here it is, directly from everyone's favorite source for all things informative, the most accurate, trusted name in news, Fox! Take it away, Fox Biz! Via an email alert:

The number of Americans filing for first-time unemployment benefits fell last week to 298,000, from an upwardly revised 312,000 the week prior. Economists expected claims to fall to 300,000 from an initially reported 311,000.

More:

(Reuters) - The number of Americans filing new claims for unemployment benefits fell slightly more than expected last week, pointing to a sustained improvement in labor market conditions.

Me oh my. What's a GOP obstructionist to do?

That was today's Quickie. Was it good for you?

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Bikini Graph time! Sixth straight month of job growth, best since 1997! #BlameObama

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bikini itsy bitsy bikini graph job creation

Once again, it’s job creation time! Which means it's also time to bring back that sexy economic data source, the Bikini Graph! This time around, we learn that this is the sixth straight month of job growth, something that hasn't happened since 1997. That sound you hear is the GOP demanding President Obama's impeachment for allowing this to happen on his watch. Da noive!

bikini graph private sector Aug 2014

bikini graph overall Aug 2014

As always, red columns point to monthly job totals under the Bush administration, while blue columns point to job totals under the Obama administration.

Via Steve Benen at The Maddow Blog, more on the new report from Bureau of Labor Statistics, including how we added 209,000 jobs in July:

The overall unemployment rate ticked slightly higher to 6.2% – still hovering around a six-year low. (This is one of those times when an uptick is good news, not bad, since more people are entering the workforce looking for jobs.)

Once again, public-sector layoffs did not drag down the overall employment figures [...] All told, over the last 12 months, the U.S. economy has added over 2.57 million jobs overall and 2.48 million in the private sector. What’s more, July was the 53rd consecutive month in which we’ve seen private-sector job growth – the longest on record.

 At this point, with the year about half over, 2014 is currently on track to be the best year for U.S. job creation since 1999.

The Los Angeles Times has more:

The labor market extended its best streak since the late 1990s, posting solid job growth last month that lured more people back into the workforce. [...]

And the [unemployment rate] rise was for a good reason: The labor force grew by 329,000 last month as many people who had left the job market — and so weren't being counted in the unemployment rate — returned. That caused the labor force participation rate to inch up for the first time in five months, to 62.9%, from its lowest level since 1978. [...]

The economy grew at a robust 4% annual rate from April through June, the Commerce Department said this week... Personal income also increased 0.4% in June, the same pace as in May. And July was one of the best months in years for motor vehicle sales, automakers said Friday.

We're on our way. Unless, of course, the GOP decides to continue to block Democratic jobs and infrastructure bills... which is a given. It looks like we'll have to keep growing the economy and employment in spite of them.

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Good news: Weekly jobless claims fall (again), lowest level since '06 #BlameObama

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i hate good news

I hate to be the bearer of good news (kidding), but once again, there is good news to be bearered, er, had. And how ironic that it is Fox Biz that is the actual bearer of this good news story that must be driving Republicans mad, because they hate this kind of upbeat stuff. Why? Because it comes to us under President Obama's watch.

And that is No-No Numero Uno.

Via a Fox Biz email alert:

The number of Americans filing for first-time unemployment benefits fell last week to 284,000 from an upwardly revised 303,000 the week prior. Wall Street expected claims to rise to 308,000 from an initially reported 302,000. The reading was the lowest since February 2006.

Here's more, via Reuters:

The number of Americans filing new claims for unemployment benefits fell to the lowest level in nearly 8-1/2 years last week, suggesting the labor market recovery was gaining traction. [...]

The data provided further confirmation that the labor market is tightening. Employment has grown by more than 200,000 jobs in each of the last five months, a stretch not seen since the late 1990s. [...]

The decline in continuing claims indicates some long-term unemployed Americans are finding jobs, a key metric for Fed policymakers.

Per Reuters, "the economy now appears to be firing on nearly all cylinders." Too bad the same can't be said for the Republican Party of Nyet.

Say it with me now...

blame obama Bush's fault smaller

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