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 ...
They revised last week’s way up. To show a drop this week. And the RINO Repubs are chirp chirp...
So it will be joyously reported as down this week before it is quietly revised up next week ?
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.
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?
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.
It’s UP by 11,000, not down.
I was for the US jobless claim total drop before I was against it.
Every elected republican and those running for office are corrupt for not calling them on it.
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?
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.
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...................
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?
Most unemployed people don’t have jobs.
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.
Laughably so. American Pravda now requires urinalists to have amateur Photoshop skills so they can lighten skin tones.
Could it be any more obvious - the games this administration is playing - to make the economy look good.
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!
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.
Thanks John W.
“most Americans just dont 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.
Speaking of Hegel, look at the charts of employment “recovery” and then compare it to Italy and France.
We ARE Socialist Europe: Stagnation.
I wish I had Bloomberg so I do charts like those!
That’s a clause, actually, not a loop, but your point is well-taken.
Welcome to the world of the U.S. Bureau of Lies and Statistics!
Our motto at the U.S. Bureau of Lies and Statistics is: “We can back up all our lies with statistics”!
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.
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.
To the government: Liar...liar...pants on fire.