From Reuters…..
Initial claims for state unemployment benefits fell 37,000 to a seasonally adjusted 335,000, the lowest level since January 2008, the Labor Department said on Thursday. It was the largest weekly drop since February 2010.
This isn’t surprising. When you have less people working, you’ll have less people to file for unemployment claims.
Do you file for unemployment if you’ve lost a part-time job?
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I read your headline, chalked up my pencil to pen a response, and then read your second line.
Stole my line.
Each percentage point in the top graph represents 2.4 million people. We’re going to have to come up with a new metric. The unemployment rate is simply insufficient to describe the misery the employment information gives us.
No, that is the problem. Obama keeps redefining what Unemployment is, so any attempt by rational people to measure it will always be met with failure as the goal posts will just be changed again.
The only solution is to examine the actual numbers. But the MSM will never do that because they prove the failure of the Obama Administration.
Thus, the need for people like us!