new unemployment claims drop to 323,000

[papau]

http://www.dol.gov/opa/media/press/eta/ui/current.htm

November 24, 2004 UNEMPLOYMENT INSURANCE WEEKLY CLAIMS REPORT

SEASONALLY ADJUSTED DATA

In the week ending Nov. 20, the advance figure for seasonally adjusted initial claims was 323,000, a decrease of 12,000 from the previous week's revised figure of 335,000. The 4-week moving average was 332,000, a decrease of 6,750 from the previous week's revised average of 338,750.

The advance seasonally adjusted insured unemployment rate was 2.2 percent for the week ending Nov. 13, unchanged from the prior week's unrevised rate of 2.2 percent.

The advance number for seasonally adjusted insured unemployment during the week ending Nov. 13 was 2,755,000, a decrease of 29,000 from the preceding week's revised level of 2,784,000. The 4-week moving average was 2,785,000, a decrease of 16,250 from the preceding week's revised average of 2,801,250.


UNADJUSTED DATA

The advance number of actual initial claims under state programs, unadjusted, totaled 355,121 in the week ending Nov. 20, an increase of 43,295 from the previous week. There were 397,990 initial claims in the comparable week in 2003.

The advance unadjusted insured unemployment rate was 2.0 percent during the week ending Nov. 13, an increase of 0.1 percentage point from the prior week. The advance unadjusted number for persons claiming UI benefits in state programs totaled 2,540,031, an increase of 148,287 from the preceding week. A year earlier, the rate was 2.5 percent and the volume was 3,137,692.

[Trajan]

1. I was laid off in September 2003 ....

I was on the unemployment rolls from January of 2004 through July ... There are no extentions ....

I have since worked 7 weeks on a temp job making $7.50 per hour, and that job terminated 11 days ago .... just in time for christmas ...

I am now again unemployed, I cannot file another claim: there are no extentions ...

I will not be counted as unemployed: it's as if I dont exist ....

To say that 'unemployment is down' is a slap in the face of those of us who are so unemployed we have fallen through the floor ... This numbers game is a farce .... a tragic farce ....

[papau]

2. October's savings rate was the lowest in three years -as spending rises

With consumer spending outpacing income growth in October, the personal savings rate — savings as a percentage of after-tax income — dipped to 0.2 percent, from 0.3 percent in September. October's savings rate was the lowest in three years

[Tempest]

5. Spending increase attributed to higher energy and food prices

People are spending more on the bare necessities, which isn't good for the holiday retail season.

Citibank says credit card spending was up 6% last weekend, so more people are going deeper in debt.

The house of cards will collapse if interest rates continue their climb.

[KingChicken]

3. Lower or unchanged wages

Maybe the jobs are picking up, but it's clear that these jobs are much lower paying. If people really need to make some money they will take any job eventually. I see a lot of desperate people....

[MrUnderhill]

4. Isn't this old news?

I think you're a day premature.

[papau]

6. Nope - release Dec 1, 2004

http://www.bea.gov/bea/newsrel/pinewsrelease.htm







Home > News > News Release Archive > 2004 > Personal Income and Outlays


News Release: Personal Income and Outlays
The entire release is available in PDF format. The tables in this release are available in an XLS spreadsheet.
Also available: a brief summary of highlights.



EMBARGOED UNTIL RELEASE AT 8:30 A.M. EST, WEDNESDAY, DECEMBER 1, 2004

James E. Rankin: (202) 606-5301 (Personal Income)BEA 04-54
Michael Armah: (202) 606-5302 (Personal Outlays)
Recorded message: (202) 606-5303

PERSONAL INCOME AND OUTLAYS: OCTOBER 2004

[MrUnderhill]

7. Is this "sleight of hand"... I mean "sleight of post"???

Yes, the income figures were released today... but your original thread was the 11/24 unemployment filings report for data through 11/20.

The new one comes out tomorrow.

[papau]

8. Slip sliding a Personal Income report into thread- perhaps sleight of post

But the number you are thinking about is jobs growth via the establishment survey. The Employment Situation for November 2004 is scheduled to be released on Friday, December 3, at 8:30 A.M. (EST).

And I agree that will be a much more interesing number

:toast:

:-)

[papau]

9. It takes a while for the obvious to sink in to my brain! Thanks for the

heads up!

Tomorrow we get current unemp new cl data!

Man - I can not skip a nap!.