(CNNMoney.com) - The number of people filing for ongoing unemployment insurance plummeted by 255,000 to the lowest level since December 2008, according to government figires released Thursday.
According to a Labor Department report, 4,462,000 people filed continuing claims in the week ended May 29, the latest week available, down more than a quarter-million from the previous week.
Continuing claims reflect people who file each week after their initial claim until the end of their standard benefits, which usually last 26 weeks.
The figures do not include those who have moved to state or federal extensions, nor people who have exhausted their benefits.
Hey dimwits, it is because there is no one left in the private sector that is fully employed to layoff. We have already exhausted our unemployment benefits and now are looking for those jobs no American wants to put a meager income into keeping our homes. What a perfect plan to destroy our Nation, bravo liberals, bravo!
I will vote for any Democrat who runs for office. They cleaning up the mess 8 years of GOP "leadership"created. They are also trying to help the middle class, but it will take years to fix what the GOP broke.
I pray to God everyday that America wakes up soon, because(God forbid) if the GOP gets into power again, there will be nothing left to the United States or the middle class.
I'm sure the Party of No will say it is not the result of the Stimulis and that Obama shouldn't get any credit? They foreget the mess that the Party of No and 8 years of bush put us in. Now they have two former CEO's running for Governor and Senate in California pouring in their millions to run their campaigns. Just what we need more rich republicans running this country and representing only the wealthiest of Americans!
But of course the GOP will still be complaining...
More positive news, but no one seems to be hearing any of it. I wish I had started keeping a record of all the articles talking about slight improvements in the last year so I can point at it when a conservative says everything is awful under the Dems watch. Everything isn't fixed, but there have been mostly positive signs for the last 6-8 months now. No one ever said it could all be back to normal after a few months anyway. It was always going to be a year or two projected for the recovery process. Looks like they were right, but again, who is really seeing this fact? Those that don't WANT to see, must cover their eyes every time a story like this (which is almost every week or so now) comes up.
I guess our inept, corrupt president can than the hiring of those census workers for making him look good, although those are temporary jobs being paid for with out hard earned tax money that was stolen to increase government employment and pay off the SEIU for its support during the 2008 election.
With all that is not counted, this number is of no use. What is the true number of unemployed?
but what a painful recovery this is
Can't wait to see what the GOPers spin on THIS is going to be!
Ah, if only we Americans had voted McCain as President. Surely it wouldn't have taken him half the time it has taken President Obama to get the economy up and running; convince big business to bring jobs back to America without first having to pay off Bush's debt to China; save us from future terrorist attacks BEFORE they happen; throw the full power of our mighty military at Iran; and taken us out of Iraq & Afghanistan expeditiously - without incident.
And, of coarse, with Palin at his side, the oil spilling into the Gulf would have already been wiped clean . . .
Eventually the bleeding has to slow.............and how many on unemployment have gone back to work.......back to work, not just off of unemployment cause their benefits expired.........back to work? Things won't get better until Obama is out of here, his policies are destroying this country in the blink of an eye.
the disclaimer is false, this figure does represents those who no longer qualify and were denied extensions. unemployment is still at an all time high, jobless claims are getting lower. how stupid is america? look around people and open your eyes, see for yourselves.
Are you going to believe what you see or what your told?
The economy is in bad shape, and just getting worse. You can not have an economic recovery without jobs, am I the only one to realize this?
Mr. President, please look at this logically. We need to incentivize companies here in the US to hire, and those companies that moved overseas to come back to America...increased taxes and fees does not do this. Continuously making companies and businesses a villian does not do this.
SOme how the right will turn this into a negative.They will never accept that the man witht a brain and thought process in the white house is actually FIXING this country that bush nearly destroyed!
In spite of spite! Thank you Mr. President.
Let the spins begin, along with the 'but, buts'.
These numbers are BOGUS!
Not counting those on extended federal benefits or those that have exhausted all benefits the real number of people looking for a full time job is more like 8 million.
Please stop peeing on my foot and telling me it's raining outside...
Just made up numbers to make the public feel like some progress is being made when in fact nothing has really changed.Outside of temporary census jobs and working at burger joints nothing is available.Most people have been unemployed for months and this president parties it up in the White House.
Unfortunately, this is probably due to the hiring of 390,000 census workers last month. The economy is improving slowly, but it will take time. The only downturn worse than the current one in the last century took 12 years (and perhaps WWII) to end. If we can get out of our current mess in 3 years (by fall 2011), it will be a small miracle. And then there's the couple trillion in extra debt will will have amassed with the ongoing war costs, the bailouts, increased spending, and tax shortfalls that will have to be dealt with.
If it doesn't include state / federal extensions then it is a useless measure,
Just wait till all the temporary Census jobs are gone and the unemployment will raise by 350,000....
And the May job numbers showed hiring 390,000 census workers. Could these be the same workers that could not then continue filing for unemployment until they are, once again, laid off?
Was the plummet due to jobs opening in the private sector or was it the government sector? It makes a huge difference. You need to keep in mind that the census is currently happening and they are short term jobs.
We need a major boost in the hiring in the private sector to get out of this recession.
These reports whether it comes from the democrats or republicans are spun to their advantage. Don't be fooled.
This is a misnomer! The reason the ongoing jobless claims plummeted is due to most of the unemployed have exhausted all benefits and extensions. This is only causing false economy reporting. I know, I am one of them.
I would suggest you take a poll on those that are still unemployed but have exhausted all benefits. You will find the real story.