Housing starts, jobless claims in good shape

[WI_DEM]

The Commerce Department said Thursday that construction of single-family homes and apartments dipped 1.1% in July compared with June, to a seasonally adjusted annual rate of 746,000. In June, the rate had been 754,000, the fastest pace since October 2008.

Housing has been making a modest comeback this year. But even with the gains, the rate of construction and the level of permits remain only about half the 1.5 million annual rate considered healthy.

In a separate report, the number of Americans applying for unemployment benefits edged up slightly last week but remained at a level consistent with modest gains in hiring, the government said.

The number of workers who made first-time filings for unemployment benefits the week ended Aug. 11 rose just 2,000 to a seasonally adjusted 366,000. Last week's figure was revised up to 364,000, the Labor Department said Thursday.

The four-week moving average, a less volatile measure of the unemployment benefits trend, fell 5,500 to 363,750. That was the lowest level since late March.

http://www.usatoday.com/money/economy/story/2012-08-16/economy-unemployment-claims-housing-starts/57089584/1

I'm so hoping the August unemployment numbers next month will be even stronger than last months 165,000.

[MadHound]

1. Wow, can I have whatever drug you are on?

Seriously, housing starts are down thirty percent from where they were just four years ago. The "official" unemployment rate is at 8.3 percent, and if you count the number of unemployed, underemployed, and those who simply stoppled looking for work out of frustration and despair, that rate is running at around thirty percent.

Yet you think these numbers mean that we're in "good shape"? Buy a fucking clue.

Our economy is still dragging along the bottom, we're in the middle of a long term economic disaster, much like Japan's "lost decade" or, to a lesser extent, our Great Depression. Trying to sugar coat these facts, trying to pump up the happy talk for political purposes is an exercise in futility. We can all see just how bad a shape this country is in, and how long we've got to go to get out of this mess. Ooo, we added 163,000 jobs last month, big fucking whoop. That's a surplus of 13,000 jobs above and beyond the number of jobs needed each month to keep up with the expansion of the work force. Thirteen thousand measly jobs.

I've seen plenty of political propaganda, but this ranks right up there, with rank being the operative word.

[WI_DEM]

2. This is not my headline it's the headline of the article so cool it.

I tell you lately around here people attack other DUers because they are too damn lazy to open links or something.

p.s.
I highly doubt USA Today is really interested in providing political propaganda in favor of President Obama.

[MadHound]

3. And yet you post this, and comment on this, like you think it is a good thing

Sorry, no break from me, not when you are deliberately putting such propaganda out there, trying to pump up the "happy talk" about the economy, when the sad truth of the matter is that the economy has been, and still is, truly fucked. Don't try to dodge criticism by saying you didn't write the headline, you posted this bullshit, you own it, thus deal with any criticism coming your way.

[WI_DEM]

5. yes because it's news--it tells what the reports are today. I didn't interpret it beyond saying

I hope the jobs report next month will be better than this month. If that upsets you then I'm sorry.

why don't you write a letter to the editor if your so damn upset at the article and stop taking it out on me.

[JoePhilly]

4. Doom and Gloom is all the rage.

Every summer since Obama took office, DU has been replete with predictions of a double dip.

Unemployment which reached a high of 10% in October 2009, is down to 8.3%, which is actually LOWER than it was in Feb 2009, Obama's first full month in office. Still has a ways to go, and if we can get rid of a few more Republicans in Congress, maybe we can accelerate things.

But Obama isn't cleaning up Bush's mess fast enough. And if you post anything encouraging, apparently you must be insane.