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Posted on 04/26/2012 8:29:35 AM PDT by whitedog57
According to the Wizards at Hogwarts (aka, the Department of Labor), “In the week ending April 21, the advance figure for seasonally adjusted initial claims was 388,000, a decrease of 1,000 from the previous week’s revised figure of 389,000. The 4-week moving average was 381,750, an increase of 6,250 from the previous week’s revised average of 375,500.”
So, initial jobless claims were HIGHER than the survey of economists, HIGHER than the the prior week, but LOWER than the REVISED initial jobless claims.
As I said in an interview to Daniel Harsanyi at Human Events about the BLS constant revisions of jobless claims, “Fool me once shame on you, fool me twice shame on me, fool me 57 times shame of the BLS.”
Chalk up another revision, Harry.
And if the “revisions” and “seasonal adjustments” aren’t bad enough, get ready for another mind-blowing drop in the nation’s unemployment rate, accomplishmed by eliminating another 1-2 million Americans from the workforce.
Mark Twain said it best: there are “lies, damned lies, and statistics,” stretched in all directions necessary to ensure Barry’s re-election.
Aw, c’mon. Encourage the socialist political folks and their regulator friends to go on vacation! Get some loans! Buy a status symbol! Lord it over their neighbors some more! The economy is recovering! Things are great! ;-)
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