Unadjusted Year Over Year: Labor Department Initial Jobless Fall -27%

Here's a quick take the Labor Department's weekly initial jobs claims report:

• Associated Press Headline And Lead: "Jobless claims drop after rising for 2 weeks... New claims for jobless benefits fell last week in a sign that layoffs may be easing as the economy slowly recovers."
• Labor Department News Release: click here. 
• Key Numbers: "The advance number of actual initial claims under state programs, unadjusted, totaled 471,720 in the week ending Feb. 27, an increase of 17,128 from the previous week. There were 645,827 initial claims in the comparable week in 2009."
• My Spreadsheet (click Download 20100218yoy).

Here's my uneducated interpretation - Quite a nice data point which puts us back on track for a bottoming of unemployment in June 2010. The bright green line looks a lot better than it has for weeks. At the current trend the initial jobless claims in June will be less than they were in June of 2003 when unemployment peaked for that downturn. 

 





 
 

MontyHigh, www.worldofwallstreet.us

Here's a quick take the Labor Department's weekly initial jobs claims report:

• Associated Press Headline And Lead: "Jobless claims drop after rising for 2 weeks... New claims for jobless benefits fell last week in a sign that layoffs may be easing as the economy slowly recovers."
• Labor Department News Release: click here. 
• Key Numbers: "The advance number of actual initial claims under state programs, unadjusted, totaled 471,720 in the week ending Feb. 27, an increase of 17,128 from the previous week. There were 645,827 initial claims in the comparable week in 2009."
• My Spreadsheet (click Download 20100218yoy).

Here's my uneducated interpretation - Quite a nice data point which puts us back on track for a bottoming of unemployment in June 2010. The bright green line looks a lot better than it has for weeks. At the current trend the initial jobless claims in June will be less than they were in June of 2003 when unemployment peaked for that downturn. 

 





 
 

MontyHigh, www.worldofwallstreet.us