Initial Claims for Unemployment MAY be Improving, Take 2…


This week I will start out with a report of the Initial Claims for Unemployment for this week (from CNBC):

“Weekly unemployment benefit applications dropped to 352,000, the fewest in nearly four years.”

and (from FoxNews):

“The number of people in the U.S. seeking unemployment benefits plummeted last week to 352,000, the fewest since April 2008.”

352,000!!  That is a GOOD number.  Not great, BUT if we can continue to move in the right direction on this scale, things will BEGIN to improve in the United States of America for the first time since Obama ascended to the Presidency.  I will still not blame the improvement on Him.  In other words it is NOT his fault things may be getting better.  Should not be too difficult for Him to accept this.  He has NOT taken responsibility for anything since He took office……… a Senator!!!

I am not saying that we have entered the calm seas and the sailing will be easy from here.  We still have to deal with ALL of the people who are unemployed that the Government Propaganda machine does not count, which would push the official unemployment rate above 10%.  We still have to hope that Europe can figure a way out of its mess.  We still have to hope that Iran does not do something stupid.  We still have to deal with ObamaCare and its effects on employment.  We will still have to deal with the rate of inflation and the fact that earnings and interest rates did NOT keep up.  And we have to deal with an Election Year.  Oh wait….scratch that last one…..IF the President and Congress can agree on NOTHING it will be good for US.

Now, for what I said last week:

“Would you want to wager that next week the number is HIGHER than 399,000??”

from FoxNews:

“Weekly applications fell 50,000, the biggest drop in the seasonally adjusted figure in more than six years, the Labor Department said Thursday.”

Lets see, 352,000 + 50,000 = 402,000 claims for last week.  Looks like I win another bet!!  I was off by 3,000 this week, but I said 399,000 to make a point.  I picked that number to imply that the number would be greater than the magic 400,000 number.  So, I would like some artistic slack in the size of my mis-estimation last week.  This week I will wager that with another UPWARD revision, the claims will be at least 355,000 this week.  Any takers??

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