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Labor Dept.: Weekly Jobless Claims Fall by 9K

Nov. 1, 2012 9:48am

Weekly applications for unemployment benefits dropped 9,000 to a seasonally adjusted 363,000 last week, the Labor Department announced Thursday,

The report comes just before Friday’s October jobs data, the last broad snapshot of the economy before the presidential election Tuesday. The still-weak job market has been a top issue for voters during the campaign.

The Labor Department said Thursday that the four-week average of claims, a less volatile measure, declined to 367,250. The average has been around that level for three months.

A department spokesman said Hurricane Sandy had no effect on the number of applicants. The report covered the week ending Oct. 27, before the storm reached shore.

But the devastation and economic disruptions that the storm caused this week will likely increase applications for unemployment aid in coming weeks. Workers who have been temporarily laid off because of the storm are expected to seek benefits.

Applications have fluctuated between 360,000 and 390,000 since January. During that time, employers have added an average of about 150,000 (mostly part-time) jobs a month. That’s reduced the unemployment rate from 8.3 percent in January to 7.8 percent in September.

Economic growth rose to a 2 percent annual rate in the July-September quarter, up from 1.3 percent in the April-June quarter. Some of the growth is due to an increase in consumer spending, but most of it can be attributed to a sharp uptick in federal spending.

Bottom Line: The economy is growing too slowly to rapidly bring relief to America’s unemployed. With the unemployment rate still high, steady growth of more than 3 percent is generally needed to create a sufficient number of jobs.

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The Associated Press contributed to this report. Front page photo courtesy the AP,

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Comments (26)

  • budahbabe
    Posted on November 6, 2012 at 12:07pm

    I read that Lockheed Martin will be laying off 237,000 workers but held off announcing it to make the job numbers look better for the Obama Administration. So corrupt! Can’t trust your government anymore! It is certainly not on our side.

    Report this comment

    budahbabe  
  • scrudge
    Posted on November 1, 2012 at 4:14pm

    Ah Yes…. he he he….. they are all at the n. y. gas station waiting for their one gallon of gas

    Report this comment

    scrudge  
  • StargazerInSavannah
    Posted on November 1, 2012 at 12:24pm

    Obama lied and the Ambassador died.

    Report this comment

    StargazerInSavannah  
    • JRook
      Posted on November 1, 2012 at 4:17pm

      But the devastation and economic disruptions that the storm caused this week will likely increase applications for unemployment aid in coming weeks. And of course this will be the PRESIDENT’s failure somehow. And as far as lying….. it is one thing to fall short on campaign promises and governing objectives. It is another thing to outright lie, know your lying, be called out on the lies and keep repeating them…. This is what the independent voters see and have come to expect from Romney and now Ryan…. The Jeep jobs to China lie is just the latest in a host of blatant lies. But just continue to indulge you Belief Entitlement. That’s the nice thing about beliefs you can fool yourself that they are real, even if they aren’t remotely based on facts, scientific evidence or rational thought. Religious beliefs are one thing, applying the same belief entitlement to matters which do have facts, scientific evidence and require rational though is active or arrogant ignorance.

      Report this comment

      JRook  
    • yougottabekidding
      Posted on November 1, 2012 at 4:26pm

      JRook

      FORWARD = 180 degree turn then go with determination
      You again talk alot and say nothing.

      Report this comment

      yougottabekidding  
  • StargazerInSavannah
    Posted on November 1, 2012 at 12:23pm

    Obama killed Stevens, Smith, Dorhety and Woods. Not so with Osama!

    Report this comment

    StargazerInSavannah  
  • Lenny4664
    Posted on November 1, 2012 at 12:11pm

    Some jobs information was derived from ADP. New Jersey Senator Frank Lautner was a cofounder of ADP. Unemployment rates are seasonally adjusted-figures lie and liars figure. I rest my case.

    Report this comment

    Lenny4664  
    • Lenny4664
      Posted on November 1, 2012 at 12:17pm

      My mistake. It should be Frank Lautenberg. I worked there I should’ve remembered

      Report this comment

      Lenny4664  
  • woodyee
    Posted on November 1, 2012 at 10:29am

    ADP just read this article, and their employees are scrambling for erasers, while an emergency meeting is called by the COB, to figure how they’ll figure so their figures jibe with the governments figures…

    Report this comment

    woodyee  
  • biohazard23
    Posted on November 1, 2012 at 10:22am

    And the real (lower) numbers will be released at a later date, like always.

    Report this comment

     
  • dublinthewagons
    Posted on November 1, 2012 at 10:14am

    2% growth doesn’t cover the cost of goods ( devaluation of the dollar) due to the federal reserve printing $40 billion per month.
    The government is feeding us out of the chamber pot and telling us its icecream. Libs eat up!

    Report this comment

    dublinthewagons  
    • DOra Glasberg
      Posted on November 2, 2012 at 2:08am

      I guess if Pauly Ryan has any brains he going to REALLY
      learn how to wash dishes. wink, wink.

      Report this comment

      DOra Glasberg  
  • Citation
    Posted on November 1, 2012 at 10:14am

    The Labor Dept doesn’t need to revise as long as ABC and others decide to spin and mislead people on their home pages “Weekly US Jobless Aid Apps Drop 363K” – although they get it right in the article that is linked, how many people will actually read it?

    Report this comment

    Citation  
  • Cibolo
    Posted on November 1, 2012 at 10:10am

    This site is blocking my posts! Whats the matter, Blaze? Don’t want people to know the truth?

    Report this comment

    Cibolo  
    • Oneirishman
      Posted on November 1, 2012 at 10:32am

      Who ever is supervising these moderators needs to be fired, they have been doing this to a lot of people. They better hope we don’t decide to leave this site in protest. I already got rid of GBTV because of this, next I move to another site.

      Report this comment

      Oneirishman  
  • AuraStream
    Posted on November 1, 2012 at 9:57am

    So much for lower unemployment, oh wait that’s a myth

    Report this comment

    AuraStream  
  • no1hd
    Posted on November 1, 2012 at 9:55am

    Please standby for the Nov 7th adjustment down..

    Report this comment

    no1hd  
  • Popp40
    Posted on November 1, 2012 at 9:54am

    However, there are reports stating NJ and D.C. didn’t submit their claims……so once again the numbers are being sckewed!

    Report this comment

    Popp40  
  • Proverbs17-12NLT
    Posted on November 1, 2012 at 9:53am

    That should be enough for democrats to lower the rate to 5.7% way to focus like a laser on jobs obombass.

    Report this comment

    Proverbs17-12NLT  
    • DontStopBelieving
      Posted on November 1, 2012 at 10:04am

      5.7% oh hell no, this report is enough to drop it down to at least 4.0%. :-) MILLIONS of jobs, I say MILLIONS and MILLIONS of jobs have been created, no one is collecting unemployment, the economy is booming, booming I say! obama and his ilk need to go, period, end of story.

      Report this comment

      DontStopBelieving  
    • Popp40
      Posted on November 1, 2012 at 10:36am

      So I wonder if they will factor in all the construction jobs that will be created in NJ and NY because of Sandy, even though those jobs won’t really start until after the cleanup is completed. But it won’t stop this administration from taking credit for them now.

      Report this comment

      Popp40  
    • SCREW-WINDOWS
      Posted on November 1, 2012 at 10:48am

      Lasers and eyes can be harmful a visit to the optometrist might find the vision loss.

      Report this comment

      SCREW-WINDOWS  

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