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U.S. jobless claims total 359,000 in latest week
marketwatch.com ^ | March 29, 2012 | Jeffry Bartash

Posted on 03/29/2012 6:08:04 AM PDT by 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.

(Excerpt) Read more at marketwatch.com ...


TOPICS: Breaking News; Business/Economy; News/Current Events
KEYWORDS:
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.
1 posted on 03/29/2012 6:08:08 AM PDT by John W
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To: John W

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


2 posted on 03/29/2012 6:11:12 AM PDT by nhwingut (Sarah Palin 12... No One Else (Maybe Tim Thomas))
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To: John W

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


3 posted on 03/29/2012 6:12:41 AM PDT by zwerni (this isn't gonna be good for business)
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To: John W

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.


4 posted on 03/29/2012 6:14:13 AM PDT by nhwingut (Sarah Palin 12... No One Else (Maybe Tim Thomas))
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To: zwerni
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?
5 posted on 03/29/2012 6:15:25 AM PDT by Scutter
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To: John W

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.


6 posted on 03/29/2012 6:20:11 AM PDT by nhwingut (Sarah Palin 12... No One Else (Maybe Tim Thomas))
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To: John W
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.
7 posted on 03/29/2012 6:22:34 AM PDT by apillar
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To: John W

It’s UP by 11,000, not down.


8 posted on 03/29/2012 6:23:34 AM PDT by tobyhill (Fight Fire With Fire)
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To: John W

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


9 posted on 03/29/2012 6:23:34 AM PDT by mykroar (Please be aware any /sarc tag is for the lurkers, not the Freepers.)
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To: nhwingut

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

LLS


10 posted on 03/29/2012 6:24:50 AM PDT by LibLieSlayer (WOLVERINES!)
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To: 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.

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?

11 posted on 03/29/2012 6:27:18 AM PDT by Go Gordon (President Poverty - President Downgrade - President Food Stamp - President Pantywaist - B. H. Obama)
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To: John W
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.

12 posted on 03/29/2012 6:31:27 AM PDT by Lazamataz (Shut up and drill.)
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To: John W

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...................


13 posted on 03/29/2012 6:36:25 AM PDT by Red Badger (Think logically. Act normally.................)
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To: John W

14 posted on 03/29/2012 6:36:45 AM PDT by C210N (Mitt "Severe Etch-a-Sketch" Romney is the front-runner? Seriously??)
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To: nhwingut
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?

15 posted on 03/29/2012 6:40:16 AM PDT by RavenATB ("Destroy the family and you destroy the country!" ~Vladimir Lenin)
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To: John W

Most unemployed people don’t have jobs.


16 posted on 03/29/2012 6:50:05 AM PDT by central_va ( I won't be reconstructed and I do not give a damn.)
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To: RavenATB
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'
17 posted on 03/29/2012 6:53:51 AM PDT by nhwingut (Sarah Palin 12... No One Else (Maybe Tim Thomas))
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To: nhwingut

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.


18 posted on 03/29/2012 6:54:46 AM PDT by Freddd (NoPA ngineers.)
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To: nhwingut
The media is corrupt

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


19 posted on 03/29/2012 6:57:18 AM PDT by Reeses
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To: John W

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

Geeezze.


20 posted on 03/29/2012 7:00:29 AM PDT by Reagan69 (I supported Sarah Palin and all I got was a lousy DVD !)
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To: John W

lol.

Remember how many aren’t counted/


21 posted on 03/29/2012 7:02:30 AM PDT by GeronL (The Right to Life came before the Right to Pursue Happiness)
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To: nhwingut

Look, folks, there is no recovery!!! There never was one!!! Sorry to say......most Americans just don’t get it. The Obama mantra, the Obama end game, the chief Obama objective is the destruction and teardown of the American economy and then...the American nation itself. If you guys & gals have not figured that out already, you are truly asleep at the wheel!!!!


22 posted on 03/29/2012 7:19:08 AM PDT by JLAGRAYFOX (My only objective is defeat and destroy POTUS Obama & his Democrat Party, politically!!!)
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To: John W

These figures from the Obama regime are a crock. I don’t see why everyone makes such a big deal out of them. They are fiction.


23 posted on 03/29/2012 7:19:59 AM PDT by FlingWingFlyer (It's time to WEAN the government off of our money.)
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To: John W
...now put last week's level of claims at 364,000, a 4.6% increase.

And the Main Stream Media chanted in unison:

"Unexpected!"

24 posted on 03/29/2012 7:25:19 AM PDT by Upstate NY Guy
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To: John W

The DJIA is down 75 as I post.

25 posted on 03/29/2012 7:48:03 AM PDT by blam
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To: blam
I've had several Brokers tell me the main reason the Market has been up is because the dollar is weak.

Any validity to that particular theory? (Seems logical to me)

26 posted on 03/29/2012 7:51:02 AM PDT by Mad Dawgg (If you're going to deny my 1st Amendment rights then I must proceed to the 2nd one...)
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To: nhwingut
"They revised last week’s way up. To show a drop this week. And the RINO Repubs are chirp chirp... "

It'd be stirring-up racial tensions to point out that Obama has a failed presidency.

27 posted on 03/29/2012 7:55:01 AM PDT by blam
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To: John W; All

Bernanke said YESTERDAY that the official unemployment numbers ‘Are not in sync’ with reality.


28 posted on 03/29/2012 8:05:29 AM PDT by tcrlaf (Election 2012: THE RAPTURE OF THE DEMOCRATS)
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To: RavenATB
I claim no expertise in stats - but I have a lot of experience in bureaucracies, and I can suggest an explanation.

The government derives these stats from the states - the states take unemployment claims, not the federal government. The office procedures in the numerous offices in the several states can vary enormously. Most likely, many are still taking paper claims at "satellite offices" which get funneled to a main office. So there can be a delay in the claim making it's way to a center where it can be tallied and reported to the Feds in time.

Additionally, the dating of unemployment claims can be tricky. If someone starts to file an application, but lacks some necessary proof - then gets it and comes back the following week - I suspect in many states the claim is dated, for processing purposes, as having been made when the claimant first started the application. So if I start a claim on March 19, but don't supply the proof until March 27, many states will treat the claim as having been filed on the 19th. But, obviously, on the morning of the 26th they weren't sure the claim would be completed and filed, so it wasn't counted. When the evidence comes in on 27th, it gets submitted but counted as a claim filed on March 19. So there is a legitimate reason why there would be upward adjustments - and there aren't downward adjustments because once the claim is filed, it's filed. It is counted as filed even if it is subsequently withdrawn.

However, when we are talking "seasonally adjusted" figures, the adjustments should have long since taken into account these factors. And I have the utmost difficulty believing these situations would constitute 4.6% of the total claims volume. But, there are legitimate reasons why figures could consistently be revised upward (a little). That the pattern is so consistent, and the statisticians haven't bothered to account for it in their adjustments, is ridiculous. If the initial report contained a reasonable adjustment to account for slow arriving or earlier claims dating, THEN I would expect sometimes the adjustment would be a little up, sometimes a little down.

Hope this helps ...

29 posted on 03/29/2012 8:16:41 AM PDT by In Maryland (Liberal logic - the ultimate oxymoron!)
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To: John W
Last week revised up? Shock!

This week, too, will be revised up.

30 posted on 03/29/2012 8:23:33 AM PDT by newzjunkey (Newt says, "A nominee that depresses turnout won't beat Barack Obama.")
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To: Red Badger

So true... “special sauce” by the gallon.


31 posted on 03/29/2012 8:24:09 AM PDT by ScottinVA (A single drop of American blood for muslims is one drop too many!)
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To: John W; All
"U.S. jobless claims total 359,000 in latest week"


32 posted on 03/29/2012 8:42:24 AM PDT by musicman (Until I see the REAL Long Form Vault BC, he's just "PRES__ENT" Obama = Without "ID")
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To: tobyhill
It’s UP by 11,000, not down.

Exactly! It's utter BS. If I tell you I have 10 apples, find out the next day that I actually had 12 and you gave me 3 more apples, I would then have 15 total, a gain of 3. I did not gain 5 apples from my erroneous original count of 10.

33 posted on 03/29/2012 8:49:31 AM PDT by Right Brother
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To: John W

MARCH 1 Jobless claims as originally reported: 351,000

Now watch the revided adjustments week to week.

March 8
362,000. The prior week’s reading of 351,000 claims was revised to 354,000

march 15
351,000, previous week’s revised figure of 365,000 (from 362,000).

March 22:
348,000, prior week were revised up to 353,000 from an original reading of 351,000.

.....Week 1 I weight 300 lbs
......Week 2 I weight 302 lbs but I revise week 1 to 310 lbs
......Weeks 3 i weigh 304 lbs but revise week 2 to 307

Lets see, March 1 was orginally 351,000 and was revised to 354,000, BUT 359,000 is the lowest since April 2008????


34 posted on 03/29/2012 9:09:31 AM PDT by Bulwinkle (Alec, a.k.a. Daffy Duck)
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To: John W

They revise the previous week UP every week. You can bet that this weeks 359,000 will be revised UP next week and any number of new claims reported under the Revised UP number will be labled a DROP in claims even if it is above this weeks 359,000. This kind of statistical BS along with the “Cooked” unemployment rate numbers will continue through the election. It is referred to as trying to “put Lipstick on a PIG” and they will be doing this at every opportunity for the next 7 months. We’ll see if the public buys it.


35 posted on 03/29/2012 10:29:21 AM PDT by Old Retired Army Guy
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To: LibLieSlayer

Sometimes they call them on it, but it doesn’t get reported.


36 posted on 03/29/2012 10:41:24 AM PDT by ichabod1 (Cheney/Rumsfeld 2012)
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To: nhwingut

Well they are not including companies which are decreasing the hours of workers either.

I’m familiar with a compnay who for the last two months decreased their full-time workers to the very least possible...the part-time workers were decreased from 25 hours to just 10 to 12 hours a week....and this was throughout the company.


37 posted on 03/29/2012 10:54:04 AM PDT by caww
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To: Upstate NY Guy

And here I am in the office, unable to drink!


38 posted on 03/29/2012 12:03:28 PM PDT by Cletus.D.Yokel (Catastrophic Anthropogenic Climate Alterations - The acronym explains the science.)
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To: John W

So what I still want to know is whether these moonbats ever tell the folks who lost jobs if they really lost their job or if they were just “seasonally adjusted”? When one loses a job does one feel better to find out he was only “seasonally adjusted”? I throw the BS flag on anything except the raw numbers simply because everything else is manipulated AAAAnnnndddd even the raw numbers are suspect with Obamuzzie pulling the levers


39 posted on 03/29/2012 12:40:24 PM PDT by cherokee1 (skip the names---just kick the buttz)
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To: ichabod1

If they reacted with passion like pelosi and reid do... they would have to report it... bang the desks and get in their faces about it!

LLS


40 posted on 03/29/2012 1:28:22 PM PDT by LibLieSlayer (WOLVERINES!)
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To: John W

I feel like we are in some Hegelian nightmare where nothing is real any more but designed to push us one way or the other. All I know is that I don’t believe any of the numbers on unemployment or the “recovery”. Groceries are getting more expensive by the day. Gas prices have gone up 84 cents since January and the help wanted section of the paper has maybe 2 listings here. I used to be in construction and I haven’t seen a single truck laden with tools or lumber on the roads which was a daily sight just 3 years ago. I haven’t seen a single lumber delivery truck or a house going up within a 50 mile radius of where I live. Things seem to be getting worse, not better. Now with gas prices rising so sharply and so fast I really worry about my fledgling e-commerce business. If I am already having to cut back then many others are too. It feels like 2008 all over again. I am tired of this feeling of dread of what’s just around the corner. I can never remember a time like this in my 44 years and with the choices of candidates I don’t have much hope for the next 4 or 5 years either. Sorry to vent.


41 posted on 03/29/2012 1:50:06 PM PDT by albionin
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To: AdmSmith; AnonymousConservative; Berosus; bigheadfred; Bockscar; ColdOne; Convert from ECUSA; ...

Thanks John W.


42 posted on 03/29/2012 2:25:37 PM PDT by SunkenCiv (I come to bury Caesar, not to praise him)
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To: JLAGRAYFOX

“most Americans just don’t get it.”

They get it every day a loved one or friend is out of work, every day they buy groceries, and they get it square in the testicles when they gas their cars.

Contrary to Obama’s media’s feeble attempt to conceal reality, it is impossible to convince an unemployed person that they are actually working, and it is impossible to convince someone that their groceries are now a bargain.


43 posted on 03/29/2012 3:08:15 PM PDT by kearnyirish2
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To: albionin

Speaking of Hegel, look at the charts of employment “recovery” and then compare it to Italy and France.

We ARE Socialist Europe: Stagnation.

http://confoundedinterest.wordpress.com/2012/03/29/initial-jobless-claims-employment-stagnation-u-s-spain-italy-and-france/

I wish I had Bloomberg so I do charts like those!


44 posted on 03/29/2012 3:11:31 PM PDT by whitedog57
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To: nhwingut

That’s a clause, actually, not a loop, but your point is well-taken.


45 posted on 03/29/2012 8:42:18 PM PDT by Lexinom (Mitt < 1,144)
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To: John W

Welcome to the world of the U.S. Bureau of Lies and Statistics!


46 posted on 03/30/2012 6:53:40 PM PDT by RetiredTexasVet (There's a pill for just about everything ... except stupid!)
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To: John W

Our motto at the U.S. Bureau of Lies and Statistics is: “We can back up all our lies with statistics”!


47 posted on 03/30/2012 6:55:01 PM PDT by RetiredTexasVet (There's a pill for just about everything ... except stupid!)
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To: LibLieSlayer
Every elected republican and those running for office are corrupt for not calling them on it

Did it ever occur to you that many of them don't have a clue as to what's really going on.

How can you call someone out when you have NO CLUE yourself as to what's happening.

I've seen this over and over within many a corporation where many of the executives & employees feign they are tuned in and are in lock step but in reality they don't have a clue what's really unfolding.

I submit to you that is what is going on with many of our elected officials.

They are nothing more than "actors" in a play that's going to end badly.

48 posted on 03/30/2012 7:21:24 PM PDT by VideoDoctor
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To: VideoDoctor
They are corrupt... I know first hand. I know corporation and State government employees that have to deal directly with them. Any republican serving in the Senate and House that does not know EXACTLY what is going on... has no business being there. We elected a republican Congressman two years ago and replaced a several decades old semi-conservative dim Congressman. This man was a Tea Party man that was going to shake the gates of hell... they co-opted him in the first 15 minutes and now he says, "You just do not understand how Washington works! I had to get a committee seat to help bring Federal money to Mississippi". No congressman... we do understand... we sent you to DC to change BUSINESS AS USUAL AND TO STOP MISSISSIPPI MONEY FROM GOING TO WASHINGTON... NOT BRING THEIR BRIBES HERE!.

I run TWO businesses and have many obligations to fulfill. My schedule is heavy... but I have time to find out and become engaged... I expect more from those that have vowed to serve. You couldn't even get my last Senator's attention unless you gave a minimum of 5 Grand to the NRSC.

LLS

49 posted on 03/31/2012 4:56:24 AM PDT by LibLieSlayer (WOLVERINES!)
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To: nhwingut

To the government: Liar...liar...pants on fire.


50 posted on 04/01/2012 5:18:26 AM PDT by hal ogen (1st Amendment or Reeducation Camp?)
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