New York (CNNMoney.com) – The number of first-time filers for unemployment insurance fell last week to a nearly 15-month low, according to a government report released Wednesday.
There were 457,000 initial jobless claims filed in the week ended Nov. 28, down 5,000 from a revised 462,000 the previous week, the Labor Department said.
That's the lowest level since the week ended Sept. 6, 2008. The week being reported included the Thanksgiving holiday.
A consensus estimate of economists surveyed by Briefing.com expected 480,000 new claims for the week.
The 4-week moving average of initial claims was 481,250, down 14,250 from the previous week.
good news? That it is at a slower rate is meaningless since companies
had already cut to the bone. And since they are still cutting, after reaching the bone, its horrible news.
Now we just need jobs.
well after 15million jobs shipped to China and India it had to slow down sometime. Now when do we get a jobs recovery and not a wall street recovery?
I am sure the 457,000 are so happy the figures were revised.
Still looking FOR ANY of the 3 million jobs the liar in chief promised, even a hint of any NEW jobs in the private sector.
The only segment that is actually adding jobs IS THE GUBMENT, good job sheep, you voted for a community organizer, that can't handle anything more than a small room of people with a teleprompter.
Almost a trillion for the stimulus and all we get a FAKE jobs in PHONY districts.
One and done, experiment brutally failed.
penalize businesses sending jobs overseas
what... businesses need to thrive in a free market
we have seen what a free market does, it sucks your jobs to the lowest priced labor... India and China are doing well, are they places you want to raise a family, no. The are crowded and polluted and supress people's rights. People are trying to leave those places.
So the free market is rewarding those with money. Certainly not a new concept, BUT one that we are seeing a very painful market correction because jobs are going where the labor is cheap. Does the U.S. actually make anything anymore? Not only is lack of manufacting an economic issue, it is a security issue.
Penalize the companies that have and are going to bring in visa workers. We need to develop our own labor, and corporations are NOT doing it, to the down fall of the U.S. against the rest of the world.
Mr President keep on working hard for us to put the economy back on track. Even though i did not like the Bank bailout and thought the stimulus was too little, I will never never blame you for trying to fix what has been broken for 8 years by the same people who has ONLY THEIR BIG MOUTHS TO SPREAD LIES AND HATES and confuse the most ignorants side of the population.
Soon the right wing racists haters will be out of arguments or critics and the blinds will again realise there were better off now than they were 3 years ago.
It's a darn shame they are making it so difficult for a young unemployed man to receive the benefits he is entitled to. With so many requests for information ans surveys they have managed to earn interest on teh mesely $200 he should receive!
No matter how you spin it , it's still a half million new unemployed . Thanks barry.
Bottom line- People still losing jobs 10 months AFTER the "stimulus" bill that was supposed to keep unemployment below 8%. Let's tell the truth CNN, and tell what a HUGE failure and deficit breaker the stimulus is and was only a payback to the people that got Obama elected. Also where is the headline about the climate warming e-mails that prove that climate warming numbers were fudged to enhance the fallacy of man-made global warming?
This is all you need to read from this biased-sounding report:
"The number of first-time filers...."
Now we are celebrating that more people are continuing to lose their jobs? Sounds pretty typical of our leadership now - the celebration that the current debacle isn't as bad as the previous one. At least we lost less jobs in November than we did in October. Hurrah.
When are we going to start CREATING JOBS?
The republicans are upset about this...now that can't blame Obama about the jobs.
Oh oh....bad news wing nuts. I know you're hoping for America to fail so you can get somebody from your party back in White House, but looks like things are going against you.
And the lavish partying at the White House goes on and on. Such a fine example of indulgence and greed.
It takes some time jobs to come back...whenever you ask for visa, or dishnet, or bank information, if the other end is from india, or phyllipines, or vietnam, or china, immediately, you cancel...it is your job...to cancel these visa etc., its what i was doing...do your part...jobs will come back....dollar strengthen...ok, god bless you, and the USA!!!Amen....again, don't forget Bush messed and GOP messed our greatest nation....we need very strict immigration.....ok....ask congress...don't fret, dont get scared...we only live once...God bless!!!!
one in 10 Americans is still unemplyed, good job obama...
I have a small manufacturing facility just outside of Detroit and we just brought back 30 people from layoff. Many have been off since the last few months of Bush's second term. Our next big hurdle is the banks. They still won't lend.
Are you seriously trying to hype this as good news? There has to come a time when companies have shed all they can shed before going out of business themselves. We have laid off 50% of our work force, anymore and we are closing our doors. Nothing like grasping at straws to convince us all is well.........we know it isn't.
Thats because many of the unemployed are not eligible for unemployement benefits.
Many places are not hiring temp employees, work them just enough weeks they can not get unemployement then let them go.
Many of your summer and fall jobs are seasonal workers. They work 3-4 months and do not qualify for benefits.
Good news for America! This on the Fed report yesterday that 8 of 12 districts are improving and 4 stayed the same, but none declined.
And the NYT stated that BOA is paying back all of the 45 billion it received from the TARP funds earlier than expected, and that this payback and the left over TARP funds now come to 200 billion which the President was going to use to pay off some of the deficit, but is now considering using it to extend unemployed benefits into next year and to help spur job creation with entry level jobs.
President Obama may not be able to solve all the country's ills as fast as some would like but he is helping to solve many of them and not just ONE at a time as some would like.
Not much to say, except 'Congrats' to our President and company. Keep up the good work.
I'm sure this won't make the 'most commented' list.
Shouldda put Sarah palin's name in the title somehow. (Hah)