Quantcast

Is the economy on the right track?

L.A. Times 2013/01/17 16:09:43
You!
Add Photos & Videos
Initial jobless claims fell sharply last week to 335,000, the lowest level in five years in a hopeful sign for the labor market as the new year begins. The number of people filing the first time for unemployment benefits dropped by 37,000 in the week ending Saturday from the previous week's revised figure of 372,000, the Labor Department said Thursday.

Economists say initial claims below 350,000 a week indicate strong job growth. But the numbers can vary widely from week to week. Analysts had expected a more modest decrease last week, to 369,000, and the sharp drop could reflect the difficulty in making seasonal adjustments to the figures after the holidays.

help wanted

Read More: http://www.latimes.com/business/money/la-fi-mo-job...

Add a comment above

Top Opinion

  • Cal 2013/01/17 21:36:38
    No
    Cal
    +18
    Unless the words sinking ship give you a warm fuzzy feeling...I'd say NO!

    sinking ship

Sort By
  • Most Raves
  • Least Raves
  • Oldest
  • Newest
Opinions

  • John Galt jr or Ron/jon 2013/11/24 05:01:39
    No
    John Galt jr or Ron/jon
  • sbtbill 2013/01/23 17:03:38
    Yes
    sbtbill
    We need another stimulus program.

    We should forget about the deficit and work on jobs. Plenty of time to work on the deficit after that. The gun issue while important should be ignored until the job problem is solved.

    1) We should increase tariffs. This would encourage business to make things in the US. It would bring in revenues that would allow reducing the debt and increasing working class deductions. It would get people off welfare.
    2) There are many things we need in the US that aren't made here. The government should open and run factories to make TV's, Computers, and appliances. It would take a while to get off the ground but it would provide jobs from day one. Once up and running the profits could be used to reduce the debt.
    3) The banks are sitting on a lot of money they should be nationalized with appropriate compensation to the stockholders.
    4) The retirement age should be lowered to 60.
    5) The cap on social security taxes should be removed.
    6) Business expenses deductions for moving a job out of the US should be ended. Today moving expenses can be deducted regardless of destination.
    7) We should go to medicare for all.
    8) The first 10,000 in money dividends from stocks should be tax free anything above that should be taxed as ordinary income. Stock dividends...

    We need another stimulus program.

    We should forget about the deficit and work on jobs. Plenty of time to work on the deficit after that. The gun issue while important should be ignored until the job problem is solved.

    1) We should increase tariffs. This would encourage business to make things in the US. It would bring in revenues that would allow reducing the debt and increasing working class deductions. It would get people off welfare.
    2) There are many things we need in the US that aren't made here. The government should open and run factories to make TV's, Computers, and appliances. It would take a while to get off the ground but it would provide jobs from day one. Once up and running the profits could be used to reduce the debt.
    3) The banks are sitting on a lot of money they should be nationalized with appropriate compensation to the stockholders.
    4) The retirement age should be lowered to 60.
    5) The cap on social security taxes should be removed.
    6) Business expenses deductions for moving a job out of the US should be ended. Today moving expenses can be deducted regardless of destination.
    7) We should go to medicare for all.
    8) The first 10,000 in money dividends from stocks should be tax free anything above that should be taxed as ordinary income. Stock dividends should be taxed in the year given at strike price.
    9) A 1/4% tax per stock trade should be enacted to discourage speculation.
    10) The US should close all military bases in Europe and the middle east after a 2 year notice. The Europeans can afford to defend themselves.
    (more)
  • JeffDeWitt 2013/01/23 02:52:03
    No
    JeffDeWitt
    No, not even close, as long as the governments hobnailed boot of out of control regulation and an insane tax code is firmly on the neck of the economy it's not going to get significantly better.
  • Professor Wizard 2013/01/21 17:33:08
    No
    Professor Wizard
    Numbers plunged because a huge percentage simply gave up and gave in... so they fall off the roster of unemployed.

    FYI: those Unemployed numbers are just the number of people drawing unemployment. Many of them are reaching the end of limits and being forced off the rolls.
  • kimmie 2013/01/21 16:36:35 (edited)
    Yes
    kimmie
    Their are some jobs are doing much better or just doing ok but unfortunately most of them are not !
  • Michaelene 2013/01/21 15:26:10
    No
    Michaelene
    "previous week's revised figure of 372,000"

    Hey let's do some math. Multipy xo 52 weeks and it's almost 20 million people in one year who applied for FIRST time UE claims.
    This is not counting all of the people whose claims have expired and are still jobless!
  • All American 2013/01/21 13:09:47
    Yes
    All American
    +1
    it's headed that way. Now, if Obama would get out of the way it would be full steam ahead. But, wait till Obamacare is fully in effect. It will be a huge drag on the economy.
  • Daryl 2013/01/21 11:34:53
  • Stan Kapusta 2013/01/21 06:40:28
    No
    Stan Kapusta
    People have fallen off the chart!
  • abubincrazy 2013/01/21 04:54:15
    No
    abubincrazy
    And we never will be until we get an American running the country again.
    Obi's zombies want Obamaphones and fool stamps, not jobs.
  • jp 2013/01/21 03:43:46
    No
    jp
    What economy
  • Willy 2013/01/21 03:10:25
    No
    Willy
    +2
    No, unemployment is 23%. There are more people out of work right now than there were when the America hating obama took office 4 years ago. obamaflation is also running more than 10%.
  • Zac 2013/01/21 00:18:02
    No
    Zac
    +2
    I'm not looking forward to paying off his debt once I get out of High School.
  • ibsteve2u 2013/01/20 23:54:19
    Yes
    ibsteve2u
    Yes, it is on "the right track" in that it isn't on the right's track, which is always down, down, down. Speaking of initial jobless claims, though: Their decline leads me to suspect that the Republicans' true constituency - such as Wall Street, and particularly such as Bain Capital - have run out of American corporations and factories (such as Sensata) to sell or otherwise transfer to the People's Republic of China.

    I don't know that I'm altogether thrilled - if lack of valuable national assets is indeed the reality - if the sole reason the right's true constituency has ceased selling America out to the communists is because America has effectively been gutted.
  • anna.wooten.9 2013/01/20 22:13:12
    No
    anna.wooten.9
    People have giving up, they put down their Resume's and left the area, they may see no hope for them. I hope they have enough to get a grant so they can start a business, and sell things or go into business with someone else. At least they could provided for them selves and others.
  • Masaca 2013/01/20 21:27:07
    Yes
    Masaca
    Well of course. Since the economy has been the barometer this is good news.
  • Hula girl - Friends not Fol... 2013/01/20 21:08:54
    No
    Hula girl - Friends not Followers
    +1
    IT'S CALLED INVENTORY AND THE HOLIDAY SEASON AND NEW HIRES FOR THE OBAMACARE.
  • Denis B 2013/01/20 19:20:25 (edited)
    No
    Denis B
    As long as you have a dominant class such as the S&P; 500 who are making record profits while more and more Americans are destitute, as long as jealousy towards Americans in their own business is facilitated on the basis of race and religion, brace yourselves, for it will only get worse. Keep loving those who got you into this mess. World Trade Center Trillion dollar Wars
  • Runaway ✩ 2013/01/20 19:05:30
    No
    Runaway ✩
    +1
    FFS, economists or anyone else who looks at a weekly figure, and draws conclusions from it are utter retards. It takes months and years to compile statistics. If, next week, we see more initial claims than we've seen in twenty years, but we DO NOT see long lists of corporations shutting down and/or moving overseas, will that mean something special? Of course not.

    You watch the numbers for TRENDS. Six weeks of very low numbers begins to make a trend. Twelve weeks of "lowest level in five years" actually establishes a trend.

    Of course, the trend may or may not be due to a strong economy. When your employment figures show that only one in twenty people actually have a job, and that all those jobs are critical or semi-critical, it simply means that there are no more people to lay off!
  • topcat128 2013/01/20 17:47:08
    No
    topcat128
    +1
    The real un-employment and under-employment rate is around 18-20%. No one in the news talked about this. Most of the new jobs created are low paying. I took a look at the job openings, here in Arizona, most paid $15 an hour or less.
  • Darr247 2013/01/20 17:18:05
    No
    Darr247
    Not quite.
  • Bonita Colley 2013/01/20 16:13:10
  • Rod 2013/01/20 13:46:40
    No
    Rod
    They will be revised upwards when the final numbers come in. Always happens. Actual unemployment is almost 20%. Wait and see. Unfortunately it is going to get worse before it gets better.
  • MrsCasao 2013/01/20 10:29:20 (edited)
    No
    MrsCasao
    +1
    I know the company I work for is building new factories in Oregon & Arizona. So there are some companies creating jobs in the US.
    People complain about all these jobs going offshore yet they're quick to jump into the "Apple" bandwagon and buy overpriced tablets, phones &MP3; players and Apple has to be one of the worst offenders, building in China, paying wages that are unthinkable & the taxes they pay, we won't even go there! anti apple
  • topcat128 MrsCasao 2013/01/20 17:49:27
    topcat128
    +1
    Tell me where I can buy Electronic products made here in the USA? You can't. So, if you want to buy them you have to buy imports.
  • MrsCasao topcat128 2013/01/21 05:10:09
    MrsCasao
    +1
    Where I work, we build something that is only made in the U.S, and our 2nd site will be in the U.S; without this there wouldn't be a chip to put in these electronics!
  • Runaway ✩ MrsCasao 2013/01/20 19:08:17
    Runaway ✩
    Thank you. Buying products of slave labor should be dealt with as treason would be dealt with. It is economic treason, after all.
  • Matt Runaway ✩ 2013/01/21 04:40:41
    Matt
    unfortunately the majority of electronics are made in china and other countries with very low wages (except maybe Taiwan) as is much of the clothing sold in shops... that would make everyone a little treasonous in your book....
  • Runaway ✩ Matt 2013/01/21 15:09:12
    Runaway ✩
    +2
    Yep. Let's all 'fess up, and admit we've been idiots for the past twenty years, and more. We shop for "cheap", never worrying about "quality". We have driven many American businesses bankrupt, because we're so stupid.

    I shop for American made to fill my toolboxes, which earn my living. It gets harder each year to find American made. Today, I settle for European, Brazilian, Japanese, and then anyplace that isn't China. I pay extra, but I get quality. Wrenches that don't snap in two the first time I put some strength into them are essential to earning a living.
  • Matt Runaway ✩ 2013/01/22 07:14:37
    Matt
    When food shopping I buy only Australian (local for me) or new Zealand if it is fish or meat... I look at every label carefully to see where things are from. Unfortunately with clothes all the "Australian brands" are made in china

    Interesting point on tools - The gold standard for me is USA tools - Snapon being my favourite. Expensive but fantastic quality... is De Walt still a USA based company?
  • Runaway ✩ Matt 2013/01/22 17:13:41
    Runaway ✩
    I can't say if DeWalt is still making tools in the US. I was terribly disappointed just a couple years ago. I wanted to update my Fluke multimeter. Started researching what each of them are capable of doing, researched what I actually NEEDED them to do, then started shopping prices. I was brought to a halt when I found that some Flukes are made in China now. I finally settled on a 179, which does everything I need, AND is still made in the USA.

    At a guess - DeWalt's top of the line tools are probably made in the US, and they've outsourced their less expensive items. That seems to be standard procedure these days.
  • Mack 2013/01/20 09:40:09
    No
    Mack
    +1
    This is just like how we "defeated" the Taliban and Al Qaeda.
  • Osama McDonalds 2013/01/20 09:19:14
    Yes
    Osama McDonalds
    +1
    I do believe the economy is on the right track but I don't think I trust the degree is accurately reflected in a number of the trumpeted stats.

    For instance, if unemployment numbers improve because a bunch of people fell off the list because they were on for too long, that doesn't mean there is more employment or the economy is doing better...it just means the stat improved for other reasons...but it sounds real good politically as long you don't look too deep.
  • Runaway ✩ Osama M... 2013/01/20 19:10:37
    Runaway ✩
    +2
    Most Americans are rather shallow when it comes to politics.

    Oh wait - it isn't restricted to politics, is it? Just look at the titles of the most popular polls here on sodahead. "Should Justin blah blah blah", "Is Lady Gaga blah blah blah". Shallow? Yep, shallow.
  • Osama M... Runaway ✩ 2013/01/20 21:28:15
    Osama McDonalds
    Ah, pop culture, the escapist drug of the masses. LOL. Actually, I think a number of the younger SodaHeads populate those posts...but, no doubt, shallowness abounds.
  • Derbyhat 2013/01/20 07:02:06
    No
    Derbyhat
    +2
    The Keystone Cops gave relief to the peoiples of the great depression that was lengthened by Roosevelts liberal policies which caused that recovery not to gain any traction until deep into WWII. The current Keystone administration is turning its back on the key lessons learned from the mid 20th century. This is no longer a country of laws, but rather a nation of regulations!

    For those who can't count, Obamacare's 2700 pages or "law" (if you can call it lawful and equitable) has generated 16,000 pages of regulation that include items not mentioned in the Obama signed bill. Obamacare alone is crippling jobs as the jobs depend on the number of employees. Worked your 30 hour work week yet?
  • FanOreilly 2013/01/20 06:37:13
    No
    FanOreilly
    +3
    Only in the liberal press is 7.8 unemployment an improvement.

    Did you forget what it was under Republicans when you were screaming?

    Unemployment
  • MARIDOTS 2013/01/20 05:44:02
    No
    MARIDOTS
    +1
    the numbers are skewed.. more people have dropped off the unemployment list because it ran out, so they aren't counted as unemployed anymore. Am I wrong about that? If so I'll stand corrected, but I believe I'm right. We're in a huge downward spiral. I've read reports that predict the stock market will be in the 5000 range within the next few months. I hope that's wrong!
  • Darr247 MARIDOTS 2013/01/20 17:26:41
    Darr247
    Plus there are about 10,000 baby boomers hitting retirement age every day.
    To lower the slope on that statistic a little, they need to raise the SS and medicare eligibility ages by 1 year every-other-year for the next 30 years to get the USA life expectancy to eligibility relationship back to where it was when SS started paying out in 1940.

    When SS was originally setup in 1930, the eligibility age was actually 1 year HIGHER than average life expectancy in the USA was in 1930. Going by that relationship, the eligibility age today should be 81, and the FICA-SS and FICA-HI deductions COMBINED from most people's paychecks would be less than $50.
  • shadow76 2013/01/20 04:14:37
    No
    shadow76
    Because with Mr overtax and spend is in charge of it!
1 2 3 4 5 6 7 ... 12 Next » Last »

See Votes by State

The map above displays the winning answer by region.

News & Politics

2014/10/30 17:31:53

Hot Questions on SodaHead
More Hot Questions

More Community More Originals