Posted on 04/12/2012 5:51:00 AM PDT by sunmars
WASHINGTON (Reuters) - New claims for unemployment benefits rose last week to their highest level since January, a development that could raise fears the labor market recovery was stalling after job creation slowed in March.
Initial claims for state unemployment benefits increased 13,000 to a seasonally adjusted 380,000, the Labor Department said on Thursday. The prior week's figure was revised up to 367,000 from the previously reported 357,000.
Economists polled by Reuters had forecast claims falling to 355,000 last week.
The four-week moving average for new claims, considered a better measure of labor market trends, rose 4,250 to 368,500.
The claims data comes in the wake of Friday's disappointing employment report for March, which showed the economy created 120,000 new jobs, the smallest amount since October.
(Excerpt) Read more at baltimoresun.com ...
“All the breathless network announcers gushing over the wonderful job numbers. Within two weeks we have the “unexpected” revised job numbers.”
The real unemployement numbers are so high it cannot be concealed by those that control the media; too many people can see it with their own eyes, with friends, family, etc.
If the election were held today Obama would be soundly defeated; “polls” cannot hide the frustration of the American voters with the affirmative action clown who won’t even admit there is anything wrong
FDR kept a lousy economy and kept getting reelected. Obama’s loss is not a lock.
I believe the media was in the tank then, just as today, for the liberals. They wield enormous power, and with Fox News promoting their brand of progressivism, but still progressivism, their Romney campaign will be drowned by Hollywood, entertainment, big news, and sports.
Romney will lose because he has nothing to differentiate himself from Obama. Their records are basically the same. Any angle he tries Obama can say “He did the same.”
“Romney will lose because he has nothing to differentiate himself from Obama.”
Obama is a known failure; Romney’s performance as president is anybody’s guess. I would have preferred other candidates, but certainly can’t stomach the idea of 4 more years of Obama.
wont matter if he can’t win
[unexpectedly...everyone drink.]
I was a teetotaler until the unexpected rule. Now my liver is shot.
Pass the Victory Gin, comrade Smith. And down with Eastasia!
And let’s not overlook the revised figures for the previous week.
It’s disgusting and farcical how they fabricate a number (350,000) that is “unexpectedly” lower. That pumps the markets. The next week, the revise that number (360,000) and the new number (349,000) they then count as 11K under the previous (which they understate as having been revised). So if you took the original numbers, there would only be a 1K drop week-over-week, but they get the 11K number for yet another pump.
They continue this ad absurdum for a minimum of a 50 point rise in the DJIA.
Then, they get an “unexpectedly” high number like this week. Is there similarly a 50-point sell-off? Nope. They get a triple digit rise in the DJIA.
If you are in this market and think you are making money and all that profit is in the numbers, you really ought to consider cashing out a chunk of those profits. This market is rigged and only TPTB know when it will crash.
Which means claims increased 23,000, not the 13,000 apples to oranges comparison they used. "Seasonably adjusted" means it's all fake. I hate the leftist media. If Republican-lite Mittens wins the script gets reversed.
Surprise!
Date | New Claims Advance Figure | Prior Week Revised Figure | Reported Decrease (Increase) | Incr. in Advance Figure | Actual Decrease (Increase) |
1/12 | 399,000 | 375,000 | (24,000) | (3,000) | (27,000) |
1/19 | 352,000 | 402,000 | 50,000 | (3,000) | 46,000 |
1/26 | 377,000 | 356,000 | (21,000) | (4,000) | (23,000) |
2/2 | 367,000 | 379,000 | 12,000 | (2,000) | 6,000 |
2/9 | 358,000 | 373,000 | 15,000 | (6,000) | 12,000 |
2/16 | 348,000 | 361,000 | 13,000 | (3,000) | 10,000 |
2/23 | 351,000 | 351,000 | 0 | (3,000) | (2,000) |
3/1 | 351,000 | 353,000 | 2,000 | (2,000) | (1,000) |
3/8 | 362,000 | 354,000 | (8,000) | (3,000) | (11,000) |
3/15 | 351,000 | 365,000 | 14,000 | (3,000) | 12,000 |
3/22 | 348,000 | 353,000 | 5,000 | (2,000) | (11,000) |
3/29 | 359,000 | 364,000 | 5,000 | (16,000) | 1,000 |
4/5 | 357,000 | 363,000 | 6,000 | (4,000) | (4,000) |
4/12 | 380,000 | 367,000 | (13,000) | (10,000) |
The link to the website of the archives of the Press Releases is here. I know my html skills aren't great, but at least you get the idea.
In EVERY case they have adjusted the number of filings up. When I first started looking into this I thought that since the adjustment was typically around 1%, it would probably not be deemed "material". But take a look at how it affects the direction of the new claims reported. Since Jan 12th, they have reported an increase in filings only FOUR times. In reality, they have had an increase in filings in Eight of the Fourteen reports I have cited. In addition, their revisions in the past three reports are significantly in excess of prior revisions. Do I smell fear among the ranks?
As long as a Democrat is in office.
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