Weekly Jobless Claims For US Up?

Tomorrow the federal gov't will publish the jobless claims for the US on Wednesday. The consensus is that the numbers will be higher than n the bast two reports. Econoday.com has published the consensus of this report before the report is released.

According to the site:

"Market Consensus before announcement
Initial jobless claims declined 24,000 for a second straight week, to 297,000 in the May 10 week for the lowest reading since May 2007. But the 4-week average, inflated by possible Easter-skewed readings through April, showed less improvement, down only 2,000 to 323,250 and above the month-ago comparison by more than 10,000. The improvement for continuing claims is very convincing, down 9,000 in lagging data for the May 3 week to 2.667 million and a recovery low."
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Read the Consensus here:
http://mam.econoday.com/byshoweventfull.asp?fid=460712&cust=mam&year=2014&lid=0&prev=/byweek.asp#top

 

They include trends of previous years for predictions. market data and other inputs that are averaged, put in layman term, from previous years. its more of a wait and see situatuion

 

Yeah, this remains to be a huge issue in the United States. The government initially tries to conceal it and always try to sound positive whenever talking about the employment condition. However, when you visit the US, you will see how much fewer the jobs are and people are getting less hours of work compared to the past years. Also, a lot of people are being forced to retire earlier. I do hope this really gets better in the coming years. US does not seem to have been able to recover yet from the recession back in 2008.

 

I think statistics like these speak volumes. It seems like a light issue even to the point that it sounds like a myth but it's very real. Ask any new graduate. The job market is a mess. My aunt has been a struggling freelancer for years. There's no easy fix but acknoledging this a national issue is a step in the right direction.

 

The claims have been reported and are higher than expected. The jobless claims reported were 326K as opposed to the last report which was 297K.

 

It's crazy how many people don't work in the United States. I come across some who don't work because they are just too lazy. Their not handicap or mentally challenged, just flat out lazy. I understand there are plenty who really can't work, but the ones who just don't want to are the problem.

 

I do not believe a lot of these so-called statistical reports. One thing that I learned is that you can skew stats to make them go into the direction that you want. I agree with you, we still are in the process to recovery from 2008. There a lot going on. It makes me sad.

 

The unemployed rate is increasing in the USA, but they are making it look like it's not always as bad as it look like. Millions of people are losing jobs everyday.

 

JR has this right, a lot of the change in the jobless claims figures are from people dropping completely out of the workforce, not a net gain in jobs. Our company has hired 10 less employees than last summer (a busy time for us), and we only have 130 total at peak. That was from efficiency gains that we had to figure out during the recession.