Initial Jobless Claims Fall To 339,000


unemployment line

Initial jobless claims fell to 339,000, which is a drop of 16,000 from last week’s upwardly revised 355,000. Bloomberg reports that this means the economy is improving, but hiring still isn’t where it needs to be.

Job creation slowed last month in the U.S. Employers added a net 88,000, workers to payrolls in March, the fewest in nine months, according to Labor Department figures released April 5. Unemployment fell to 7.6 percent, the lowest in four years.

Oh, and then there is this:

With the data showing the job market weakened in March, Federal Reserve Bank of New YorkPresident William C. Dudley said central bank officials have scope for maintaining their record monetary stimulus.

Of course they won’t end their record monetary stimulus. It’s QE Forever, remember?

Then there are the folks who just drop out.

Continuing claims dropped from an upward revised 3093K to 3000K, the lowest in 5 years. Of course, with millions of people now prematurely out of the labor participation rate, what if any data the initial claims report provides these days, is very much unclear.

Well that won’t stop the media and Democrats from telling us how wonderful the economy is, even while they have recruiters out there signing more and more people up for food stamps. Not only are they buying more votes, they’re also avoiding images of long bread lines that don’t fit the narrative.