By Joseph Lawler•7/23/15 8:32 AM

First-time claims for unemployment benefits fell to the lowest level in four decades in the week ending July 18, the Department of Labor reported Thursday, at 255,000.

Claims had not been that low since November of 1973, when the U.S. labor force was 91 million. Today it is 157 million.

Thursday's report easily beat Wall Street analysts' expectations for around 279,000 claims, which are adjusted for seasonal fluctuations.

The four-week moving average of claims also fell, by 4,000 to 278,500.

Unemployment claims have been running under 300,000 since the end of February.

Claims, which are released on a weekly basis, are considered a leading indicator for the labor market, with fewer claims representing a slower pace of layoffs.

The summer slowdown in claims has coincided with ongoing improvement in the monthly jobs report.

Unemployment fell to 5.3 percent in June, according to the Bureau of Labor Statistics, and net payroll job gains rose to 221,000 averaged over the past three months.

That rate of job creation is slower than the pace for 2014, but still high enough to keep the unemployment rate trending down.

Thursday's jobless claims report covered the week in July which will be used as the reference week for the July jobs report, due out on August 7.

Despite the decades-low initial claims number reported Thursday, government officials believe that the U.S. labor market is still not at full health.

The unemployment rate is several tenths of a percentage point above the 5 percent to 5.2 percent range that Federal Reserve officials see as the long-run health rate. The unemployment rate, however, understates the true weakness in the jobs market because a large number of people have been forced into part-time work or have become discouraged about finding a job and given up searching, thereby falling out of the calculation of the official unemployment rate.

You state the unemployment rate is several tenths "tenths" I would argue the methodology of calculation began its largest move from reality over the last 20 years, and then again during the last eight year. +/- from 1973 methodology we are more in the 10% ish based on U-6 calculations. This has not only been obama's politics, but politics for decades to put a politician in better light. If actual jobless, True unemployment, and genuine inflation numbers, as well as GDP where to be published at this time, the government would no longer be able to sustain the house of cards given the current strength of the fiat currency in relation to falling orders and production. The leaving of foreign government's from the petro dollar, European announcement of officially returning to recession, Greece and other nations collapsing.

By Joseph Lawler•7/23/15 8:32 AM

First-time claims for unemployment benefits fell to the lowest level in four decades in the week ending July 18, the Department of Labor reported Thursday, at 255,000.

Claims had not been that low since November of 1973, when the U.S. labor force was 91 million. Today it is 157 million.

Thursday's report easily beat Wall Street analysts' expectations for around 279,000 claims, which are adjusted for seasonal fluctuations.

The four-week moving average of claims also fell, by 4,000 to 278,500.

Unemployment claims have been running under 300,000 since the end of February.

Claims, which are released on a weekly basis, are considered a leading indicator for the labor market, with fewer claims representing a slower pace of layoffs.

The summer slowdown in claims has coincided with ongoing improvement in the monthly jobs report.

Unemployment fell to 5.3 percent in June, according to the Bureau of Labor Statistics, and net payroll job gains rose to 221,000 averaged over the past three months.

That rate of job creation is slower than the pace for 2014, but still high enough to keep the unemployment rate trending down.

Thursday's jobless claims report covered the week in July which will be used as the reference week for the July jobs report, due out on August 7.

Despite the decades-low initial claims number reported Thursday, government officials believe that the U.S. labor market is still not at full health.

The unemployment rate is several tenths of a percentage point above the 5 percent to 5.2 percent range that Federal Reserve officials see as the long-run health rate. The unemployment rate, however, understates the true weakness in the jobs market because a large number of people have been forced into part-time work or have become discouraged about finding a job and given up searching, thereby falling out of the calculation of the official unemployment rate.

Can you spell H-Y-P-O-C-R-I-S-Y? Kibbles is a hypocrite.

Why are false numbers reported? The media loves to praise Obammy even if it has to lie or fabricate the numbers in the process. And, yes, I -know how the process works. The mooslime-in-chief loves to score political points and Wall street wants you to stay in the market.

100% of the uncounted unemployed and underemployed are not throwing parties to toast the phony 5.2%. In other words, the official unemployment rate, which cruelly overlooks the suffering of the long-term and often permanently unemployed as well as the depressingly underemployed, amounts to a Big Lie.

When the media, talking heads, the White House and Wall Street start reporting the truth -- the percent of Americans in good jobs; jobs that are full time and real -- then we will quit wondering why Americans aren't "feeling" something that doesn't remotely reflect the reality in their lives. And we will also quit wondering what hollowed out the middle class.

The same method is used to calculate the rate of inflation. Un-necessary items like food, gas and utilities are conveniently left out of the calculations. Do you understand why?

Most of the time I try to ignore the narcissistic prick, kibbles. Why do you defend his lying?

Fifty years of all the affirmative action, racial quotas, welfare, and preferential treatment has not helped blacks because the vast majority of them are incapable or too lazy to help themselves. What about YOUR people? I know firsthand how they are. My brother was a doctor on a Ute Indian reservation in Utah until he could no longer stand it.

He was not lying, most whom replied did not scroll down to read his comments on the article. Based on title and first few paragraphs it would look as if he where endorsing the article. Which is not the case.
My defense are the endless racial jackasses following him around for no other purpose that hate, I strongly disagree with his political position, and instantly he jumped on me as racist. Gee I wonder why, maybe because I sounded like a racist , not for racial comments but because of all who hold conservative views and are racist. It angers me the ones who hold dear the Constitution and loathe anyone that picks and chooses it's intent, choose to miss the part of all men created equal. Unless your a liberal or non white......
I have great unrest for the damage created by the left, yet as others want to engage in discussions on merit of beliefs, not race.