Green Shoots In Weekly Jobs Data, Sort Of
There have been hopes, over and over, that the jobs data would get better. Or at least less-bad as we have been discussing for about 3 or 4 months when the data started looking as though it was at a…
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The week before was revised to 605,000 from 608,000. The good news, or less-bad news, comes from the continuing claims and the four-week average.
The four-week average fell again, this time by 7,000 to 615,750.
The continuing claims that measures those in the jobless lines for more than once straight week came down by 148,000 to 6,687,000. The question is how many of these people have found work or have exceeded the time they can receive benefits.
Until we see the weekly jobless claims get closer to and then under a level of 500,000 rather than 600,000, that unemployment number is going to keep creeping up toward the double-digit levels. If you count the number of under-employed, discouraged, and temporary/contract workers that are not in a permanent position it is already well into the double digits.
Jon C. Ogg
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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.
A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
