Americans On Unemployment Benefits Drop To 45 Year Low

For the first time since November 1973, there are less than 1.7 million Americans claiming jobless benefits...

 

And while 'everyone' will proclaim this an Obama victory, we note that the pace of the collapse in unemployment rolls has accelerated dramatically as Trump's reign has continued...

 

 

Comments

Dr.Strangelove Thu, 06/14/2018 - 08:49 Permalink

Unemployed boomers have exhausted their UI benefits and can no longer make a claim.

They collect disability now and they have no incentive to re-enter the workforce.  

That's why the numbers have dropped so low.

PrayingMantis brushhog Thu, 06/14/2018 - 09:47 Permalink

 

   ... “ ... but people out of the workforce is at an all time high ... “ ... that’s true @brushhog, as it was detailed here ... >>> http://theeconomiccollapseblog.com/archives/the-truth-about-the-employment-numbers-nearly-102-million-working-age-americans-do-not-have-a-job-right-now    

 

   ... all these government-induced “creative statistics” ( such as this > “Americans On Unemployment Benefits Drop To 45 Year Low)  only serve the (((msm))) crowd ... it has almost as much credence as government telling the sheeple, “no matter where you go, there you are!” ... 

 

   ... this news tidbit is  a “squirrel” ... to keep people off what’s really happening in the (((talmudic))) world ...

 

... here are fine examples of old “news” that matter ... news that are not covered to keep the public mis-informed especially about “tariff” talks ...

 

... we’ve been bombarded with talks about “tariffs” on “aluminum” and steel ... here’s the kicker ... with the WH stacked with the 🦑 Squid’s tentacles, and the “Trudeau spat” (perhaps Canada is only protecting their ALCAN baby), guess who’s been “cornering” the US aluminum market? ... Goldman Sucks ... “ ... Goldman's new money machine: warehouses ... “ ... >>> https://www.reuters.com/article/us-lme-warehousing/goldmans-new-money-machine-warehouses-idUSTRE76R3YZ20110729 ...

     ... “ ... The derelict neighborhood off Michigan Avenue is a sharp contrast to Goldman’s bustling skyscraper headquarters near Wall Street, but the two operations share one important element: management by the bank’s savvy financial professionals. 

A string of warehouses in Detroit, most of them operated by Goldman, has stockpiled more than a million tonnes of the industrial metal aluminum, about a quarter of global reported inventories. 

Simply storing all that metal generates tens of millions of dollars in rental revenues for Goldman every year.

There’s just one problem: much less aluminum is leaving the depots than arriving, creating a supply pinch for manufacturers of everything from soft drink cans to aircraft. 

The resulting spike in prices has sparked a clash between companies forced to pay more for their aluminum and wait months for it to be delivered, Goldman, which is keen to keep its cash machines humming and the London Metal Exchange (LME), the world’s benchmark industrial metals market, which critics accuse of lax oversight.   ... “ ... 

 

    ... and here’s another ... “ ... ICE Deal for N.Y.S.E. Creates Global Powerhouse ... “ ... >>> https://www.nytimes.com/2012/12/21/business/global/ice-deal-for-nyse-creates-global-powerhouse.html ... 

       ... “ ... 

It was the temple of commerce, the symbol of New York’s status as the nation’s — and for many decades, the world’s — financial center.

Today the New York Stock Exchange building at Broad and Wall Streets in Lower Manhattan is not much more than a television studio. Soon it seems likely that it will not even be owned by a New York company.

The owner of the exchange, NYSE Euronext, agreed on Thursday to be acquired by IntercontinentalExchange, an Atlanta-based upstart that has prospered by trading derivatives over the Internet, for $8.2 billion in cash and stock.

The transformation of the New York Stock Exchange from its position at the apex of the world financial system to an asset to be bought and sold like any other — and one that is not deemed to be worth as much as it would be if it traded more modern derivative securities rather than old-fashioned stocks — has been going on for decades, but has accelerated in recent years.

Along the way the exchange lost its pre-eminent market position to newer competitors, gave up most of its regulatory responsibilities, and stopped being owned by the brokers who traded there. ... “ ...

 

    ... the best part of waking up is opening your eyes ...

 

In reply to by brushhog

CultiVader brushhog Thu, 06/14/2018 - 16:07 Permalink

True. I've been "unemployed" for the past 8 years. I was doing fairly well through it all until we had 2 kids. Now it's catching up and Im going back to "work" this summer. Mostly for the health insurance? Still keeping my "unemployment" benefits though. It's been a nice run.
As an aside, I do know some rather lazy fucks who have been forced to actually get back to work because the bennies can't keep up with their lifestyles. I don't think many people foresaw how beneficial the benefits would become. It became too easy to be unemployed. Trump is fixing that.

In reply to by brushhog

Endgame Napoleon gatorengineer Thu, 06/14/2018 - 14:27 Permalink

SOME employers, like factories that lay off their floor workers strategically at some points in the year when they need to turn out less product, give their workers formal pink slips, enabling them to collect month after month after month of UC.

Ditto for very different types of employers who are not as cutthroat, like those employing band members that, during the off-the-road season, collect UC while working gigs. 

Many people in the workforce are in such cozy situations, and almost every one I have ever seen had layers of other income, like spousal income or child support, in addition to child tax credits and UC.

It cushions this brutal economy for THEM, not for most of us.

Unemployment Compensation is one form of unearned income that, like child support, does count against the access to free EBT food, free rent, monthly cash assistance and free electricity that womb-productive citizens & noncitizens in single-earner households, staying under the income limits for the programs by working part time, have.

It does not affect their up to $6,431 in refundable child tax credit money, and a few of them work the UC system, calculatingly reporting their UC so that they lose a minimum of pay-for-birth welfare.

But say you are a non-womb-productive, single office worker or an inside salesperson with earned-only income that must cover all household bills, including rent that devours over half of your monthly pay.

Say you are in one of the many, many, many “voted best for moms” crony-corrupt jobs, where about half of the above-firing moms are absentee mornings, afternoons, days and weeks beyond PTO & pregnancy leave.

Say, as a single / childless employee, you are not above firing for even the slightest & pettiest of infractions.

Say most of the absentee mommas do not meet the quotas, but you do meet the quotas every month, while coming to work every day and staying all day.

You still do not get one dime of UC to cover rent between churn jobs if the momma claws manage to bully you out the door after praising you, calculatingly, as you helped to raise up the vacationing momma manager’s numbers. 

Momma manager finds someone else to churn & burn, strategically bullying you out, and you get zero UC to help cover your rent as you search for another low-wage churn job. 

Temp workers likewise get no UC.

The self-employed get zero UC, and more & more Americans are self-employed pieceworkers, working gigs for which they are taxed at 15.3% for SS, while all of these UC-privileged employees pay only 7.65% into the SS trust fund.

The womb-productive employees pay 0.00% for all of their means-tested, unearned income streams through the welfare systems and the progressive tax code.

Most of us get nothin’. NOTHING.

In reply to by gatorengineer

canisdirus gatorengineer Thu, 06/14/2018 - 15:02 Permalink

It also needs to have been held long enough and be eligible for UI. All those gig workers and long-term unemployed that they shift into the NILF category are not eligible. Obamacare caused many employers to structure how they employ people to avoid having to pay for it, especially for low-paid marginal employees. As a result, the pool of people eligible for UI is getting very small.

In reply to by gatorengineer

Oldwood No Time for Fishing Thu, 06/14/2018 - 09:04 Permalink

Nothing is positive news for progressives, not just because they yearn for the apocalypse that finally sweeps their tyranny into power, but because they CANNOT allow Trump ANY credibility, even for positive turns, secure in their belief that Trump can only have success accidentally. 

Trump will NEVER be afforded credibility which is why they attack him on every front, not because he has done anything criminal. Even their demands for impeachment are not founded on any crimes, but simply on his lack of credibility....the one thing they work tirelessly to deny him. His meeting with Kim, claiming he was giving Kim credibility, was actually the opposite. Meeting with Kim was actually giving TRUMP credibility as a world leader.

So fear not, I'm sure a world where government is not financially supporting idle hands MUST portend the END!

In reply to by No Time for Fishing

Honest Sam Oldwood Thu, 06/14/2018 - 09:24 Permalink

Can you give President Trump due credit for being the only POTUS in modern history to get NOKo to an unprecedented sit down to attempt to make peace between their regime and SoKo, as well as the ratcheting down of nukular conflagration?
 

If you can do that, then you will earn some cred, and if you won't do it then fuck off.

In reply to by Oldwood

Oldwood Oldwood Thu, 06/14/2018 - 09:34 Permalink

Must have stepped on a progressive nerve.

Their desperation is driven to ever greater heights with each Trump success. Their unending attacks on Trump's credibility are becoming VERY illuminating. Their panic will lead them to self destruction.

It would be fun to watch if not for the fact that they will NEVER accept defeat and will fall back on their radical roots unleashing mayhem on our world.

In reply to by Oldwood

Giant Meteor Oldwood Thu, 06/14/2018 - 10:14 Permalink

Bullshit. I mean if this is the policy, then say it is the policy. Tell the fucking truth of the matter , because bullshitting and presenting numbers, easily explained, would be appropriate eh? But that is not how the government rolls , setting aside mythical creatures, liberal, and conservatives.

There is much pain upon the land , for a great many, and while it is perhaps easy to say “fuck em”, hidden within the bullshit is the truth of the matter, concealing the systemic rot, fraud, corruption, and pain  within.

 

In reply to by Oldwood

JelloBeyonce No Time for Fishing Thu, 06/14/2018 - 09:37 Permalink

Examine the details:

The first sentence reads:
"For the first time since November 1973, there are less than 1.7 million Americans claiming jobless benefits"

Which reads like total Americans claiming ALL jobless benefits.

Yet the charts are labeled:
"Continuing Jobless Claims"
Which excludes new claims (aka newly unemployed), and just shows the continuing claims.

 

Thus the article is referring to two different sets of stats, yet combining the two in a misleading manner.

 

In reply to by No Time for Fishing

boodles Dr.Strangelove Thu, 06/14/2018 - 09:46 Permalink

The people collecting disability aren't boomers but are Gen Xers -- A third of boomers are already retired, collecting SS, and within a couple years, half of boomers will be retired.

The drop in new claims has to be from another source as the time clock is quickly running out on your Boomer meme.

Look at this: https://www.statista.com/statistics/192361/unadjusted-monthly-number-of…

It's true that more people are employed as a percentage of the pie.

Here's what gets to me, anyway: We've been forced to absorb millions of barely employed, or unemployed, illegal and legal immigrants, most of which TAKE far more from our government than GIVE to it. So though they're employed, as a group they're a net loss. 

Unemployment/employment numbers should be replaced by net giver/net taker numbers. Government employees, of course, are net takers.

 

 

In reply to by Dr.Strangelove

bshirley1968 ZENDOG Thu, 06/14/2018 - 09:29 Permalink

I agree with you to a point, but consider this....

A "job" use to be a means of building a life. Now a job is just a means to stay ahead of taxes and insurance while you pretend you are getting somewhere.

There was a day a jib would buy land, build a house, provide a life. Now a job might cover rent, transportation (to and from said job), and the ability to sit in the park and feed pigeons for entertainment. There is no future in a job.....not anymore. Oh, there are always exceptions, but as a rule, it would be much easier just to forgot the dead end work and just collect free shit.

I have the privileged of being self employed and never intend to "depend" on a job again. I feel for people scrambling to get a job to make ends meet.

In reply to by ZENDOG

Oldwood bshirley1968 Thu, 06/14/2018 - 09:49 Permalink

Respectfully, I think you're wrong.

While you may be correct that many are trying to stay ahead of their bills, a look back into our not so distant past will show us that historically most people were simply "working" at anything they could to simply SURVIVE. NOT pay taxes, insurance or healthcare. Just FOOD and shelter.

My father worked in the depression for 25¢ a DAY doing farm labor...owned NOTHING except the clothes on his back.

Modern society is SPOILED ROTTEN, decrying that they have it so BAD while living far in advance of ANY of their predecessors.

A "job" is premissed on dependency, on security, the notion that while false, is used to induce people to surrender the liberty of self employment for the security of dependence....the FOUNDATION of modern progressivism, as their desire is for us to ALL have jobs working for but ONE employer...the STATE.

In reply to by bshirley1968

JelloBeyonce ZENDOG Thu, 06/14/2018 - 09:53 Permalink

Kind of like corporate welfare?

Why hire more workers when you can get government grants, subsidies, and tax considerations (aka "free shit") to supplement your corporate revenue, and spend on stock buybacks, raising your EPS, meaning you don't have to produce as much, meaning you don't have to hire as many workers.

Government spending now accounts for almost 2/3 of GDP.....meaning the government is funding/driving most of the economy.
The companies doing the best are those recipients of that government spending.

 

It's a bit more complicated than your simpleton rant.

 

I recently posted a "help wanted" ad for my business, and received over 200 resumes/applicants.....for one job.

Seems a lot of people are looking for the very few jobs available.

What's the point of applying for a job as a "dog walker" or some minimum wage work when it costs you more to get to your job than you would be getting paid to do that job?

In reply to by ZENDOG

bshirley1968 Toxicosis Thu, 06/14/2018 - 09:00 Permalink

And the rest are working for the government.

It's not just government employees that I speak of, but rather tons and tons of subcontractors working government projects. The government has become the biggest "customer" in the country....by far. Schools, government facilities, military equipment, and did I mention schools?

Massive government jobs program that makes Roosevelt's WPA look like a community shelter project.

In reply to by Toxicosis