Economy Jobs

Jobless Claims Lowest Since Nearly 2005

via Bloomberg

Jobless claims declined by 1,000 to 287,000 in the week ended Oct. 4, a Labor Department report showed today in Washington. The median forecast of 50 economists surveyed by Bloomberg called for 295,000. The four-week average, considered a less volatile measure, decreased to 287,750, the least since February 2006. [...]

Firings are hovering around the lowest in almost a decade as employers hang onto workers to meet rising demand.

There’s that magic word: demand.

This is not the work of supply side tomfoolery or tax cut magic. This is good ol’ demand.

It’s true that a significant number of people have exited the work force entirely, but it’s also true that these numbers are good even when taking that into account.

  • muselet

    In related news, Kevin Drum reports that companies are having to gasp! shock! horror! pay skilled workers more in order to retain them.

    Cue the screams of INFLATION! ZIMBABWE! WE’RE DOOMED! from the usual suspects.

    –alopecia

  • Badgerite

    Large numbers of people not driven into the ground by debt and low wages equals demand.
    Otherwise known as the Middle Class consumer.

  • aynwrong

    I don’t know why I remember this but in the beginning of the Obama Administration when people were pointing out that the problem was a lack of demand and didn’t have F*** ALL to do with supply side anything El Rushbo’s response was “THAT’S WHAT THE DRIVE BYS ARE SAYING.” “Drive bys” meaning of course, “the liberal media.” Thats the level of propaganda were dealing with. Reality easily dismissed and a description of the media that just screams projection.