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Good news anyone? - 12/31/2009 12:00:57 PM

Lucylastic

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Maybe theres some good news to look forward to in 2010?
Optimistic or pessimistic?

Dec. 31 (Bloomberg) -- Fewer Americans than anticipated filed claims for unemployment benefits last week, pointing to an improvement in the labor market that will help sustain economic growth next year. Initial jobless claims fell by 22,000 to 432,000 in the week ended Dec. 26, the lowest level since July 2008, Labor Department figures showed today in Washington. The number of people collecting unemployment insurance fell in the prior week to 4.98 million, and those receiving extended benefits jumped. Companies are retaining staff as sales improve and production picks up. Gains in consumer spending, which accounts for 70 percent of the economy, may encourage more hiring in coming months, helping to bolster the rebound from the worst recession since the 1930s.
http://www.businessweek.com/news/2009-12-31/u-s-jobless-claims-drop-to-lowest-level-since-2008-update2-.html

Yes MzMia Im doing it, I just couldnt help myself*wink*

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RE: Good news anyone? - 12/31/2009 12:17:32 PM

ThatDamnedPanda

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I hate to be a downer, but it's not so much that it's good news - it's just news that's not as bad as we've gotten used to. The economy is basically running out of people to fire. We'd have to add a half million jobs a month just to get back to normal unemployment levels by 2011. The amount of ground we've lost is enormous, and it'll take years to regain it. But, at least it appears we've reached a point where it's not getting as bad as rapidly as it was.

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RE: Good news anyone? - 12/31/2009 12:21:49 PM

vincentML

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Obama's economic incentives run out next year. I have read of a second dip in the economy. Ya think?

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RE: Good news anyone? - 12/31/2009 12:23:22 PM

ThatDamnedPanda

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quote:

ORIGINAL: vincentML

Obama's economic incentives run out next year. I have read of a second dip in the economy. Ya think?

We should be good until November!

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RE: Good news anyone? - 12/31/2009 12:27:32 PM

Rule

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In 2010 I will sleep. Perhaps I will sleep in the remainder (150 minutes) of 2009 as well, but I am listening to the final songs of the Top 2000.

Except for one hour this afternoon, I haven't slept in thirty hours now; and the previous day I slept only five hours.

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RE: Good news anyone? - 12/31/2009 1:07:10 PM

MzMia

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Ah Lucy, links are okay, I think I was having a moment.

There is sooooooooo much to reflect on.
The end of a decade, the beginning of a new one.

I did find an excellent MSNBC Year in Review, that has a lot of information in it.
So much to think about and reflect on.
Year in Review- msnbc.com

We have a lot to be thankful for.
We have not had any successful recent attacks here in the United States.
The world has not come to an end.
You and I, and many others, will be alive to ring in a New Year!!!
Happy New Year to all!

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RE: Good news anyone? - 12/31/2009 2:07:31 PM

InvisibleBlack

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quote:

ORIGINAL: Lucylastic

Dec. 31 (Bloomberg) -- Fewer Americans than anticipated filed claims for unemployment benefits last week, pointing to an improvement in the labor market that will help sustain economic growth next year. Initial jobless claims fell by 22,000 to 432,000 in the week ended Dec. 26, the lowest level since July 2008, Labor Department figures showed today in Washington.

We were just talking about this at the office - not unemployment but the validity of statistics based on either of the last two weeks of the year. The last two weeks of the year are usually anomalies when it comes to statistics - many people go on vacation or travel or see relatives and the like. It's possible that people simply just don't bother to file for unemployment Christmas week and decide to wait. I'd be more heartened if, come the end of January, the numbers are still dropping. I'd be even more heartened if when they revise all the 2009 numbers (which they'll be doing shortly) all the revisions are positive.

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RE: Good news anyone? - 12/31/2009 3:22:50 PM

Musicmystery

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Well, among the good news is that this is a year old. Inventories are low, much tighter than they were last year at this time. Cost cutting has run its course. Over the next six months, new production will be necessary. Gradually, that will mean jobs.

OK, not an occasion for a party, perhaps, but still cautious good news.

That said, many economists warn of stopping stimulus too soon, undermining recovery. We'll see.

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