Drudge Retort: The Other Side of the News
Thursday, October 13, 2016

Filings for U.S. unemployment benefits were at a four-decade low over the past two weeks as sales prospects encouraged employers to maintain headcounts. Jobless claims were 246,000 in the period ended Oct. 8, unchanged from the previous week's level, which was revised lower, a Labor Department report showed Thursday in Washington. The median forecast in a Bloomberg survey called for 253,000. The four-week average also fell to the lowest level since 1973. "These numbers are really remarkable given that the labor force is obviously a lot bigger than it was in 1973," said Patrick Newport, an economist at IHS Global Insight in Lexington, Massachusetts. "They tell us of a relatively healthy labor market."

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Obama's fault.

#1 | Posted by 726 at 2016-10-13 10:29 AM | Reply

It's just numbers.
~ Donald "Denigrate America" Trump

#2 | Posted by Doc_Sarvis at 2016-10-13 10:31 AM | Reply

Does this take into account the thousands of people who lost their jobs when yet another Drumpf business went ---- up?

#3 | Posted by northguy3 at 2016-10-13 10:37 AM | Reply

No links to data, nothing but smoke and mirrors. How many of these constant growing jobs are part time? How many people are no longer able to claim unemployment benefits? I call BS.

#4 | Posted by SailorX76 at 2016-10-13 10:51 AM | Reply | Newsworthy 1

Speaking from personal, current experience, this is no indicator of JOBLESS, period. Because I was a freelancer for so long, I can't file for unemployment, and is why I'll probably be homeless this time next year.

#5 | Posted by HugoSLavia at 2016-10-13 11:05 AM | Reply

How many people are no longer able to claim unemployment benefits?

Educate yourself about how the jobless rate is determined before making yourself look stupid.

#6 | Posted by 726 at 2016-10-13 11:09 AM | Reply

More people not working than any time in recent history ND the "jobless claims" go down?

#7 | Posted by bogey1355 at 2016-10-13 11:09 AM | Reply | Newsworthy 1

And

#8 | Posted by bogey1355 at 2016-10-13 11:10 AM | Reply

More people not working than any time in recent history ND the "jobless claims" go down?

The nation is aging. Us old fart retirees don't get counted as unemployed. Of course, after the GOP ends SS many will have to go back to work. Or die. Either way works for the GOP.

#9 | Posted by northguy3 at 2016-10-13 11:24 AM | Reply

How did Obama do that?

#10 | Posted by homerj at 2016-10-13 11:45 AM | Reply

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He used PFM!!!

#11 | Posted by Sniper at 2016-10-13 12:06 PM | Reply

#9 Except that isn't the whole story, North. I will go on the assumption that you are just not aware.

The unemployment rate is calculated using the number of people applying for unemployment benefits and the number of people who are employed, and is a simple ratio of those two numbers. If you add those two numbers, you have the "labor force".

It does NOT account for people who are "not in the labor force". Any non-institutional (not in jail or in the military) person over the age of 16 who is unemployed BUT doesn't file for unemployment (for whatever reason) is considered out of the labor force. That number currently sits at just under 94.5 million people. Only 52 million of those are over the age of 55. To me the really shocking number is that 20+ million between the ages of 25 and 54 are out of the labor force, and 10% of those WANT jobs! Ages 16-24 show about 11% that are out of the labor force and want a job. Those people who are out of the labor force and WANT a job are NOT counted in the unemployment figures.

www.bls.gov

#12 | Posted by MUSTANG at 2016-10-13 12:27 PM | Reply

Help me out here. The Grope says that the economy is in the toilet, but the Labor Department seems to think otherwise.

Can hey both be lying?

#13 | Posted by contrecoup at 2016-10-13 12:37 PM | Reply

I would but I have no job for internets. I used ma hommie's Obama phone for these posts. Perhaps you can shed some verifiable light into it? BTW, the official U.S. Bureau of Labor Statistics (BLS) unemployment rate puts the real unemployment rate at 12.6%. Tell them they are not doing it right since you know better.

#14 | Posted by SailorX76 at 2016-10-13 12:55 PM | Reply

#14 You're going to get a lot of answers based on how you ask the question, because "the real rate" means different things to different people, depending on the political spin they want to apply. For instance, it can include those people not in the labor force that want to work (which I discussed earlier). It can also include underemployment or underutilization. The BLS tallies it 6 ways, called U-1 through U-6. U-6 is Total unemployed, plus all persons marginally attached to the labor force, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all persons marginally attached to the labor force and currently sits at 9.7%. It doesn't take into account whether those are full-time or part time. Of the 152 million currently employed, 27 million are part-time (17.5%). If those part-timers are working 30hr/wk on average, that's another 4.4% unemployment on top of the 9.7%. There are others that aren't employed but not counted. The "real" unemployment rate probably hovers around 15%, and by real I mean "over 18 but not retired, working at a job that pays them money for 40 hrs/wk".

#15 | Posted by MUSTANG at 2016-10-13 02:25 PM | Reply

"No links to data, nothing but smoke and mirrors. How many of these constant growing jobs are part time? How many people are no longer able to claim unemployment benefits? I call BS.
#4 | Posted by SailorX76"

The formula for calculating this rate has been constant. Therefore, improvements in the number are real. If you don't want to believe this, don't believe it. But do know that pretending there has not been a real improvement in unemployment recently is delusional.

#16 | Posted by mOntecOre at 2016-10-13 02:52 PM | Reply

Probably best if people just read the data and draw their own conclusions:

www.bls.gov

#17 | Posted by MUSTANG at 2016-10-13 03:20 PM | Reply

No links to data, nothing but smoke and mirrors. How many of these constant growing jobs are part time? How many people are no longer able to claim unemployment benefits? I call BS.

#4 | POSTED BY SAILORX76

If you go from full time to part time, you still qualify for unemployment benefits... Stop being dumb and posting nonsense.

#18 | Posted by Sycophant at 2016-10-13 03:27 PM | Reply

Labor participation rate went up in the last year. Unemployment went down except for the uneducated.
I don't find it shocking at all that 20 million 25-54 year olds are not in the workforce. Those would include stay at home parents, which many conservatives claim is a good thing, unless Obama makes it happen.

The US has a steadily improving economy that is the envy of the developed world. Thanks Obama.

#19 | Posted by bored at 2016-10-13 03:47 PM | Reply

Naturally, as over these past 7+ years companies have pared their personnel down to the core so they now are no longer laying people off.

#20 | Posted by MSgt at 2016-10-13 03:53 PM | Reply

How many people are no longer able to claim unemployment benefits?

Educate yourself about how the jobless rate is determined before making yourself look stupid.

#6 | Posted by 726

26 weeks in most states.

#21 | Posted by Sniper at 2016-10-13 04:34 PM | Reply

The formula for calculating this rate has been constant. Therefore, improvements in the number are real. If you don't want to believe this, don't believe it. But do know that pretending there has not been a real improvement in unemployment recently is delusional.

#16 | Posted by mOntecOre

Wake up mon............. there are more people OUT OF THE WORKFORCE than anytime in history. That is NOT factored into the unemployment rate.

#22 | Posted by Sniper at 2016-10-13 04:37 PM | Reply

The US has a steadily improving economy that is the envy of the developed world. Thanks Obama.

#19 | Posted by bored

With a 1% growth rate?

#23 | Posted by Sniper at 2016-10-13 04:38 PM | Reply

#20 The paring down of jobs started in earnest during the Bush error, or have you forgotten?
Obama has reversed the Bush collapse, while trimming the number of government employees.

#24 | Posted by bored at 2016-10-13 04:38 PM | Reply

#23 Which developed countries are doing better than the US?

#25 | Posted by bored at 2016-10-13 04:39 PM | Reply

#22 The not in workforce numbers have declined while the population increased over the last year.
The economy is improving, whether you like it or not.

#26 | Posted by bored at 2016-10-13 04:44 PM | Reply

Sniper, I found a nice chart at the link below, showing the annual GDP rate. Click on the 10Y option for the chart and it looks like 2009 was a free fall (no surprise there) but we've heading downward at a rapid clip since 2015. Like you, I see nothing more than an anemic/weak economy that is likely to do no better over the next few years regardless of who gains the White House in January. Obama has nothing to brag about on this front.

www.tradingeconomics.com

#27 | Posted by AKat at 2016-10-13 04:48 PM | Reply

Bored, the link below is from March 2015 but seems to paint a different picture as far as labor goes.

"The number of Americans aged 16 and older not participating in the labor force hit 92,898,000 in February, tying December's record, according to data released by the Bureau of Labor Statistics (BLS). ... The White House played up the jobs creation aspect while overlooking the dismal participation numbers."

www.rt.com

Here's more bad news on the U.S. Labor Participation Rate from the BLS:

data.bls.gov

#28 | Posted by AKat at 2016-10-13 04:58 PM | Reply

Want to see what a great growth rate is take a look at Reagan's vs obama's: [compare years 1 through 7 in office as obama has not completed his 8th.

16004-presscdn-0-50.pagely.netdna-cdn.com

Per updated data reported by the US Dept of Commerce – Bureau of Economic Analysis as of January 29, 2016, the average annual GDP growth rate for Obama in his first 7 years in office is a dismal 2.9%. Reagan's recovery on the other hand averaged a 7.9% annual GDP growth rate for his first 7 years in office.

Reagan's policies led to an average annual increase in GDP of nearly 3 times that of Obama's policies.

Of course, Obama's record on job growth is also much worse than President Reagan's record.

16004-presscdn-0-50.pagely.netdna-cdn.com

Stats can be ugly things when they are not on your siude.

#29 | Posted by MSgt at 2016-10-13 05:02 PM | Reply

You put growth mostly on the President or Congress or what?

#30 | Posted by snoofy at 2016-10-13 05:04 PM | Reply

#30 | POSTED BY SNOOFY AT 2016-10-13 05:04 PM | FLAG: An administrations policies towards taxes, businesses, etc. Do no know if you are old enough to know/remember the Carter recessions of late 70s/early 80s. but Reagan 'inherited' a real mess with double digit inflation and unemployment.

Inflation alone was so bad that after returning form the Philippines my wife [a captain], and I [Master Sergeant]] with good credit and income had a mortgage rate of over 13%!

#31 | Posted by MSgt at 2016-10-13 06:28 PM | Reply

And now, interest rate on your savings account is zero.

Obama inherited a bigger mess than anyone since FDR. And has had zero GOP support cleaning it up. This economy was supposed to be his Waterloo.

#32 | Posted by snoofy at 2016-10-13 06:58 PM | Reply

Reagan inherited a different economy that Obama. It is relative performance that matters. Just about every country boomed in the 80's, no developed country is booming now.

#33 | Posted by bored at 2016-10-13 07:34 PM | Reply

The u.s. is doing better than the rest of the modern world economy right now.

#34 | Posted by snoofy at 2016-10-13 07:50 PM | Reply

Your kidding right?

They have no data what so ever on how many people are unemployed because they do not collect that data.

This report only tracks who lost a job this week. Its useless.

The only real way to track who is not working is to check IRS data. Why no report on that data because its very embarrassing for Obama.

#35 | Posted by tmaster at 2016-10-13 09:33 PM | Reply

Obama inherited a bigger mess than anyone since FDR. And has had zero GOP support cleaning it up. This economy was supposed to be his Waterloo.

Republicans were prepared to send the US into a depression rather than help a democrat/black man succeed. They have obstructed just about everything Obama wanted to do that could have improved things. However, in spite of this obstruction, the US economy is out of the ditch and moving forward; no thanks to republicans.

For the past 7+ years, republicans have placed party over country which has led to them now being led by someone like Donald Trump. Republicans, you deserve Donald Trump and the grief that you are now suffering for turning your back on the American people for the last 7+ years.

Karma is a bitch.

#36 | Posted by FedUpWithPols at 2016-10-14 06:27 AM | Reply

Speaking from personal, current experience, this is no indicator of JOBLESS, period. Because I was a freelancer for so long, I can't file for unemployment, and is why I'll probably be homeless this time next year.

#5 | POSTED BY HUGOSLAVIA AT 2016-10-13 11:05 AM | REPLY | FLAG

What do you do? I am hiring for a couple of contract positions. It won't help you get unemployment but might stave off homelessness.

My email is on my user page under Contact User.

#37 | Posted by TaoWarrior at 2016-10-14 07:23 AM | Reply

114 million people on welfare or some form of assistance in this country.
And when they are put on the benefits list they are put as working.

Bush not the greatest by any stretch only had 22 million on welfare/gov programs.

Im sorry you can not have a 80 million increase in 8 years at the rate of 10 mill+ most non Americans and say the employment rate is down.

I do not by this at all....

impossible just by glancing at the numbers

#38 | Posted by infamouskiller at 2016-10-14 01:33 PM | Reply

40% of the usa population is being paid by the 60% working class how long do they think this will continue before it implodes.

Have you seen the rioting when someones food stamps get cut off.

#39 | Posted by infamouskiller at 2016-10-14 01:35 PM | Reply

Don't believe it. JWC

#40 | Posted by JayClark at 2016-10-14 01:51 PM | Reply

#36 Fedupwithpols: "For the past 7+ years..."

Are you telling us that Obama faced a House and Senate where the R's held majorities ... for the past seven years?

Otherwise his own party carries part of the blame. :)

#41 | Posted by AKat at 2016-10-14 01:57 PM | Reply

"Jobless Claims at 42-Year Low." Oh really? This is hogwash. 94 million people are out of work and have forsaken looking for paying jobs because unemployment benefits never end, and Obama has lowered the bar to get on SSI disability. BTW, there has been no spike in workplace accidents either. We have the lowest number people employed since the 1970s, and the population has grown 25%. Whoever wrote this article is on drugs.

#42 | Posted by Verneoz at 2016-10-14 04:26 PM | Reply

"94 million people are out of work"

Look at a credible link: that 94 MM includes retirees and students of working age or older.

"because unemployment benefits never end"

Another load of BS.

"We have the lowest number people employed since the 1970s"

In part because of the baby boomer surge in retirement: 10,000 a day on average. Also, "Employed" has a very specific meaning: you work for someone else, and we now have many more self-employed entrepreneurs, especially since health insurance isn't as tied to employment due to the ACA.

#43 | Posted by Danforth at 2016-10-14 04:42 PM | Reply

Since 1945 every recession has been burdened with higher debt burden. It has reached the point where recovery is impossible without writing off the debt. But since the 1% own 90% of all debt and control all central banks in the western world! there will never be a full recovery. The alleged recovery is a lie in a sea of lies.

#44 | Posted by nutcase at 2016-10-14 07:34 PM | Reply

LOL
Illegals working or not working do not count.
Except when the vote.

#45 | Posted by Federalist at 2016-10-14 09:47 PM | Reply

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