Skip to comments.U.S. jobless claims total 359,000 in latest week
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 ...
Remember how many aren’t counted/
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!!!!
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.
And the Main Stream Media chanted in unison:
The DJIA is down 75 as I post.
Any validity to that particular theory? (Seems logical to me)
It'd be stirring-up racial tensions to point out that Obama has a failed presidency.
Bernanke said YESTERDAY that the official unemployment numbers ‘Are not in sync’ with reality.
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 ...
This week, too, will be revised up.
So true... “special sauce” by the gallon.
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.
MARCH 1 Jobless claims as originally reported: 351,000
Now watch the revided adjustments week to week.
362,000. The prior weeks reading of 351,000 claims was revised to 354,000
351,000, previous weeks revised figure of 365,000 (from 362,000).
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????
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.
Sometimes they call them on it, but it doesn’t get reported.
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.
And here I am in the office, unable to drink!
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
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!
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