New Jobless claims fall to 521k!!

please only post bad news that feeds into the fear of the perma bear perma renters that flame these boards.

Anchor quotes:

"The unemployment rate rose to 9.8 percent in September from 9.7 percent, the department said last week, as employers cut 263,000 jobs."

"More job cuts were announced this week."

Means nothing. A lift before the next dip. What needs to be reported is the number of new hires companies have made...

riversider would state that this dip is a direct result of the policies of the George W Bush......

YIPPEE!!!, Only 1/2 a MILLION people lost their job this week. That is great news.

who'e losing their jobs at this point? Cashiers? This news is becoming less relevant for the manhattan market. The slide is nearing its end....won't be a bounce back for a while..but prices won't be declining significantly for the foreseeable future...especially desirable neighborhoods

Wait till the unemployment rate reaches 90%. By then new jobless claims will probably sink to below 100,000.

Absolutely true, waxer, I'm glad you said it because it's the subject of a whole news article today:

"Manhattan Rental Deals Plunge 59% on Unemployment"

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=ar.PvWSlHeyE

NYC unemployment rate is 10.3% & rising.

'whose' losing their jobs at this point?'
How about the folks that got let go this week and last form AMEX? I know of 2 that worked there in a highly professional capacity (and high wage) for their entire career of 22 years! Cashiers??? maybe their next job. Are you so sure the bottom is in? What if the smart money decided it was time for a little profit taking and, they sent the market down to 7500? Absurd you say? That's all it would take to appear as a preponderance of evidence that the economy was way worse than expected which, by the way, would suck RE prices right down with it, IMHO.

No: "Who's" losing their jobs....

"No: "Who's" losing their jobs...."

obama and this recession might be giving hope to a lot of workaholics, a more balanced lifestyle might lie ahead.

"who'e losing their jobs at this point? Cashiers? This news is becoming less relevant for the manhattan market.

Wow, this is up there with those "yes, but not PRIME manhattan" rationalizations. An instant classic.

"please only post bad news that feeds into the fear of the perma bear perma renters that flame these boards."

I love that losing half a million jobs is considered great news.

My, my, have times changed....