Jobless Claims Drop To July 2008 Levels

In a potential sign of a mending economy, unemployment claims for the week ending Dec. 25 fell 34,000 to 388,000, the lowest levels since July 2008. However, the good news might be slightly enhanced by it being the week of Christmas, which can throw a wrench into into how the claims are tallied. The last two years have seen the same trend, with claims then jumping upward in January. The news was received by unemployed folks in the same way as when you were a kid you found a cool wrapped present only to discover it was only a decoration.

Weekly jobless claims drop below 400,000 [Marketwatch]


Edit Your Comment

  1. Hi_Hello says:

    yea seasonal jobs…

  2. Consumeristing says:

    July 2008, that’s already the sixth month of the Great REcession, just three months before Lehman Brothers collapsed. What other fun and interesting milestones are we going to hit next year? I know one for sure: when January rolls around, it’d be the 20th month unemplomynet has exceeded 9%, the longest it’s been above 9% ever.

  3. TuxthePenguin says:

    “The news was received by unemployed folks in the same way as when you were a kid you found a cool wrapped present only to discover it was only a decoration.”

    Ben, that sentence was awesome.

  4. ALP5050 says:

    It was xmas week I wonder if that had anything to do woth it hmmm.. Thats still alot.

  5. coren says:

    Or that many more people just gave up

  6. Master Medic: Now with more Haldol says:

    I wish I was making the money now that I was in July 2008.

    $55,000 pay cut FTW!!!

  7. Erich says:

    All that says is that there’s a fucking lot of us who have run out of our benefits.

    • mandy_Reeves says:

      Yes, I was telling my hubby this exact thing this morning. There is a drop because so many people are already unemployed…you don’t file twice. So either those who get hired are not getting fired quickly, or like I said: So many folks are unemployed, that we have run out of newly unemployed folks.

    • DH405 says:

      This is NEW claims, not continued claims.

  8. nutbastard says:

    So THAT’S what the whole New York Snowpocalypse was going for – keeping people from filing unemployment claims.

    Well played.

  9. TasteyCat says:

    Recession = over.

    Every time I read one of these articles, the numbers change. Initially, jobless claims had to fall below 450k to show improvement. Then 425. This one says 400. Earlier today I read an article that said 375.

  10. vicissitude says:

    Nobody seems to monitor Euro news, or news around the world for that matter. Our news is corporate controlled, believe it. The numbers are put out there to sell more stocks, bolster broke banks, etc. These numbers, like all the usual economic numbers will be revised after the 1st quarter and then the news will be past due, so to speak. The rest of the world knows what most American’s don’t and that’s – that our government has fixed nothing, except to keep *some* of our banks and through AIG / the insurance companies floating for _now_. Personally I think things are going to get a lot worse in the coming months and even years. Unless we do what Germany has done, it may be really bad. By the way, power companies are sucking the life out of America. You heard it here. ;)

  11. AllanG54 says:

    So…only about 600,000 people were affected by this figuring that of the 388,000 who got canned some of them had families depending on them. It’s unfortunate and I hope that in the coming year all who want to work are able to do so. And it’s also unfortunate that most of the people who got us into this mess are still employed. Where’s the justice?

  12. The Lone Gunman says:

    Wait a couple months for the inevitable ‘revised’ numbers to come out before you start dancing in the streets.

  13. NOXIUS says:

    Once your unemployment runs out the don’t count you any more regardless of whether or not you have a job. The real unemployment rate is around 19% not 9%. Until we change our trade policies and banking system it is unlikely to change much.

  14. dawnitopia says:

    After you become a 99 weeker you lose your benefits and fall out of the unemployement counting system…. you may not have a job, but you’re no longer receiving bene’s

  15. SkottFree says:

    Just another happy happy happy story about those that can no longer file for unemployment so are no longer counted in jobless claims! In other related posts the government to change way it counts long-term unemployed as employed!