U.S. jobless claims total 359,000 in latest week

marketwatch.com ^ | March 29, 2012 | Jeffry Bartash

[John W]

WASHINGTON (MarketWatch) - The number of Americans who filed requests for jobless benefits fell by 5,000 last week to a seasonally adjusted 359,000, the U.S. Labor Department said Thursday.

The latest data includes the government's annual seasonal-adjustment revisions extending back five years, which have resulted in a small increase in weekly claims.

The number of new applications for benefits last week, for example, was originally reported at 348,000. The revisions now put last week's level of claims at 364,000, a 4.6% increase.

[John W]

So, they had to revise last week UP by SIXTEEN THOUSAND to show a drop of 5,000 this week. This mess gets curiouser and curiouser.

[nhwingut]

They revised last week’s way up. To show a drop this week. And the RINO Repubs are chirp chirp...

[zwerni]

So it will be joyously reported as down this week before it is quietly revised up next week ?

[nhwingut]

So that means last week was actually an increase in claims (364,000). Will this be counted or are we still on same magical 5 week trend of drops?

The media is corrupt for allowing this charade to stand.

[Scutter]

So it will be joyously reported as down this week before it is quietly revised up next week ?

Yes, that is exactly what they seem to do every week. Anyone have a link to the full adjusted data set that they mention in the article?

[nhwingut]

I see the lib media is trumpeting this new number (once again) as a 4 YEAR LOW.

Last week’s (348,000) was headlined as the same, 4 YEAR LOW (until revision).

Amazing how the media and Obama can work together.

Of course this will be revised up and then next week will be another 4 year low to headline.

[apillar]

The telling sign for me was during Fed Chairman Ben Bernake’s recent testimony where he essentially said the good employment numbers don't make any sense when the state of the overall economy hasn't appreciably changed for the better and he doesn't see how they can be sustained. To me that was him saying the books where being cooked in the most diplomatic way he could.

[tobyhill]

It’s UP by 11,000, not down.

[mykroar]

I was for the US jobless claim total drop before I was against it.

[LibLieSlayer]

Every elected republican and those running for office are corrupt for not calling them on it.

LLS

[Go Gordon]

The telling sign for me was during Fed Chairman Ben Bernake’s recent testimony where he essentially said the good employment numbers don't make any sense when the state of the overall economy hasn't appreciably changed for the better and he doesn't see how they can be sustained. To me that was him saying the books where being cooked in the most diplomatic way he could.

Didn't somebody compare the trends for revenues generated by income taxes versus the trends in the published unemployment figures to show a huge disconnect?

[Lazamataz]

The number of new applications for benefits last week, for example, was originally reported at 348,000. The revisions now put last week's level of claims at 364,000, a 4.6% increase.

Here. Let's not get all upset. Let's simply get the (somewhat) accurate numbers out there.

Go around the State Run Media, the Gangster Government Media.

[Red Badger]

This will go on thru the election, so they can say that the unemployment applications rate has dropped EVERY WEEK since the beginning of the year...................

[C210N]

[RavenATB]

Can someone with a strong background in “stats” explain to me (us) why it is that the unemployment numbers are almost always revised upward (after the headlines have faced) in this administration?

Logic tells me that if there is an unintentional “glitch” in the system, that such an error would be divided in a fairly even way, with the revisions of the previous week's unemployment numbers being closely even between upward and downward revisions.

Why then do we almost consistently see that the revisions are in the upward direction?

[central_va]

Most unemployed people don’t have jobs.

[nhwingut]

Logic tells me that if there is an unintentional “glitch” in the system

There is a If Then Else loop in the program.

If #ThisWeek higher Than #LastWeek Add 5,000 to #LastWeek

Then Go #Report

Else Go #Report

#Report 'New 4 Year LOW'

[Freddd]

78K people fell of extended and EUC claims as more and more
drop out of the workforce. This means the unemployment rate
just dropped courtesy of even more people giving up on finding work.

March is about to close with 17 misses out of 19 key economic indicators.

[Reeses]

The media is corrupt

Laughably so. American Pravda now requires urinalists to have amateur Photoshop skills so they can lighten skin tones.

[Reagan69]

Could it be any more obvious - the games this administration is playing - to make the economy look good.

Geeezze.