Jobless Claims Break Below 400,000
The US Department of Labor reported this morning that seasonally adjusted initial jobless claims were 388,000 In the week ending Dec. 25. That is a decrease of 34,000 from last week’s revised number of 422,000. This is the lowest weekly figure since July 2008. More importantly, the four-week average was 414,000, a decrease of 12,500 from last week’s average of 426,500.
This time of year shows heavy adjustments. For example, the non-seasonally adjusted number was 521K. So, we can’t read too much into one week’s number. However, the comparisons to last year’s numbers demonstrate that the pace of weekly job losses has declined significantly. The employment market remains week but is improved. The steady improvement in the jobless claims numbers is supportive of the technical recovery into 2011.
This is a positive sign. It shows that the jobs picture, while still weak, is definitely improving. It is unlikely that the employment situation is going to be the cause of renewed economic weakness at this point since the trajectory is now steadily up.
Ah, hope always springs eternal, and in the Home of the Brave and Land of the Free, even more so. But, in order for 2011 to be the year of an even slight improvement, let alone actual recovery (!!), these are my suggestions to immediately grow the Middle Class and stimulate the economy :
1. Congress should heavily “tax/fine/penalize” Corporations for every out-sourced “job” previously held by Americans to India, Singapore, Mexico, Ceylong (Sri Lanka) and God knows where else. using a stick-and-carrot approach – STIFF penalties for every job that continues to be lost to Americans, and a meaningful tax incentive for every job returned to Americans;
2. Generous tax incentives to corporations for every job offered as a tele-comuting opportunity (providing both the flex-time & home-office equipment/communications), saving wasteful spending for long commutes (a very “green” opportunity), particularly allowing working Mothers to save on childcare cost;
3. Generous (very) tax incentives to Corporations provideing on-site day care, or subsidizing local day-care – this will create a HUGE & INSTANT economic stimulus, when 90% of that second income is no longer spent on day-care, but converts to disposable income – immediately growing the Middle Class and the Economy and even allowing many families to prevent foreclosure on their homes;
Ah, hope always springs eternal, and in the Home of the Brave and Land of the Free, even more so. But, in order for 2011 to be the year of an even slight improvement, let alone actual recovery (!!), these are my suggestions to immediately grow the Middle Class and stimulate the economy :
1. Congress should heavily “tax/fine/penalize” Corporations for every out-sourced “job” previously held by Americans to India, Singapore, Mexico, Ceylong (Sri Lanka) and God knows where else. using a stick-and-carrot approach – STIFF penalties for every job that continues to be lost to Americans, and a meaningful tax incentive for every job returned to Americans;
2. Generous tax incentives to corporations for every job offered as a tele-comuting opportunity (providing both the flex-time & home-office equipment/communications), saving wasteful spending for long commutes (a very “green” opportunity), particularly allowing working Mothers to save on childcare cost;
3. Generous (very) tax incentives to Corporations provideing on-site day care, or subsidizing local day-care – this will create a HUGE & INSTANT economic stimulus, when 90% of that second income is no longer spent on day-care, but converts to disposable income – immediately growing the Middle Class and the Economy and even allowing many families to prevent foreclosure on their homes;