You don't get significant employment recovery until you are in the low 300,000s.
Posted on 05/24/2012 6:42:07 AM PDT by John W
New U.S. claims for unemployment benefits fell slightly last week, government data on Thursday showed, suggesting the labor market continues to expand at a moderate pace.
Initial claims for state unemployment benefits slipped 2,000 to a seasonally adjusted 370,000, the Labor Department said. The prior week's figure was revised up to 372,000 from the previously reported 370,000.
Economists polled by Reuters had forecast claims unchanged last week.
Claims have barely budged in the past four weeks indicating a marginal improvement in the pace of job creation after April's disappointing 115,000 gain in nonfarm payrolls.
(Excerpt) Read more at foxbusiness.com ...
Isn’t this the second week that claims fall because the previous week’s number was revised upward?
They don’t even bother to report the unemployment RATE anymore.
It's a game of shells... EVERY week, they revise the previous week upwards, so it looks like there's a decrease. So... Last week was reported as 370,000... Revised upward to 372,000... So, today's 370,000 looks like a dip... Fuzzy math
If they wanted to be fair about it, they'd always incorporate the revision together with the new change. In this case... DOWN 2,000 from the REVISED figure from last week, and UP 2,000 due to the revision...
Flat. Period. No change. The rest is bull.
Nothing to get excited about -
As usual they will adjust this week’s numbers upward next week.
Just shows how desperate the MSM is to prop up their dear leader.
Second in a row, for sure. Like a print version of TV news anchors, they just print whatever is put in front of them.
Interesting....I wouldn’t have noticed that, had you not pointed it out.
At this point I’m beyond believing anything that eminates from this administration. I believe nothing they say period. The good part of that is that it saves me the time to parse the GOP’s crap.
Let's review here... initial claims had been 368,000 three weeks ago.
In last week's report it was adjusted up to 370,000 then last week was initially reported at 370,000 so the media said "unchanged" even though comparing initial-to-initial it had risen 2,000.
Now that last week has been adjusted up, by 2,000, where it was already 2,000 over the prior week's initial claim, they're saying the numbers are down by again comparing the initial again to the adjusted for the prior week.
We've gone from 368,000 to 372,000 and it's written in such a way as to hide the bad news.
This slight-of-hand reporting is crafted to create an illusion of stability or even improvement.
An honest mind boggles at the open duplicity.
The "New Unemployment Claims" is reported every Thursday.
Both numbers are complete fabrications, calculated and reported to do the least political damage to Democrats and the most harm to Republicans.
I think the actual unemployment rate is reported only on a monthly basis rather than weekly.
Absolutely excellent dissection.
This is a regular event going back months and months.
Close. They claimed last week was "unchanged" because last week's initial was the same as the prior week's revision upward.
3 wks ago: 368,000 (initial), 370,000 (revised) 2 wks ago: 370,000 (initial), 372,000 (revised) 1 wk ago: 370,000 (initial).
Their spin? It got better, economists surveyed were wrong about it being unchanged when the initial this week was unchanged vs initial last week.
The actual unemployment rate is NEVER reported. The government crafted unemployment rate is released with the previous month's numbers, usually on the first friday after month's end.
“Initial claims” and “unemployment rate” are apples and oranges.
“Initial claims for state unemployment benefits slipped 2,000 to a seasonally adjusted 370,000, the Labor Department said. The prior week’s figure was revised up to 372,000 from the previously reported 370,000.”
???? Last month was reported as 370k. This month was reported as 370k. ????? Just how does “Falls Slightly” come from 370k - 370k = 0
Next week, this week’s 370k will be “revised up” again so the new 370k+ number can be reported as another wonderful drop. BS!
Massaged data is always disappointing because if you massage it too much it is obvious you are massaging it...
I wonder when the MOP (Ministry of Propaganda) will just start publishing out and out blatant bald face lies...
Well like 2 years ago i suppose...
Everyone drink.
“revised up to 372,000”
The numbers have been revised up 17 weeks in a row.
They had been revised up 62 out of the last 63 weeks. That’s how you know it’s Thursday. Unemployment claims will be revised upwards.
http://www.rushlimbaugh.com/daily/2012/05/17/it_s_thursday_jobless_numbers_revised_up
The prior week’s figure was revised up ...
lol
Unbelievable. They can still report that same old canard week after week after week.
suggesting the labor market continues to expand at a moderate pace.
The news is the media manipulating the facts in an effort to manipulate the outcome or cover up the truth.
Oh wait, that use to be news.
Now it is just another day.
The real news is 70% of U.S. Citizens are not sick and tied of being played.
Scroll down deep because the time to wake up is over
LOL !
OK, boys and girls, what is wrong with this picture?
Yes however, were this a Republican administration the information would have been hammered home regardless.
Of course yesterday HP announced that 24,000 employees will be joining the Obama lines on the call center queues for their first time applications....
No more lines except on the phone or on the web...it’s “so easy” to apply for UI now!!
Go look at the WARN notices for the next few months....(90 days notice for a major reduction in force) you will see that, in fact, it is getting WORSE!
Actually, just think of it this way...Almost all of the people of Wichita Kansas filing new claims for jobless benefits EACH WEEK.
Way to go, Bozo!
Especially when they infer expansion of the labor market from it, rather than comparing the size of the labor market last week to this week, which they CAN do if they want. Should show a labor market that’s been sliding since... oh just about 4 years ago.
why don’t they just not report numbers for one week and then we can report numbers that won’t need revision on a one week lag basis. No, too simple and how would Obama be able to play smoke and mirrors
I anticipate completely fabricated numbers starting in September, showing dramatic increases in employment and a drop in UI claims. The truth won’t come out until after the November vote, and after the Obama campaign has trumpeted the great turnaround.
Yes. All suggesting a moderately expanding economy where weekly claims are regularly adjusted upward, causing the next week to be slightly lower. No other possible interpretation in the land of Wishthinkia./s
It happens frequently. Clearly, comparing apples and apples, the number did not go down at all.
You don't get significant employment recovery until you are in the low 300,000s.
Claims 4 weeks ago: 365k
Claims 3 weeks ago: 367k
Claims 2 weeks ago: 370k
Claims this week: 370k
These are the pre-revision claims.
What an utter load of BS. The economy is NOT getting better. The best that can be said is the freefall has slowed. Slowed, not stopped. Take a look at the percentage of the American population that is of work age currently participating in the work force. It’s lower than it has been in decades.
The economy is still in dire shape. It will continue as such until the Marxist moron and his loathesome band of socialists are voted out of office in November. Until then, watch for all sorts of creative reporting from Zero’s propaganda wing, currently masquerading as the lamestream media. Lies regarding the ‘health’ of the US economy will be heralding as ‘fact’. Just like the manufactured polls showing a majority of Americans supporting Zero, with plans to vote for the Kenyan clown.
Sickening.
Amen to all that. You just have to believe voters will believe their lying eyes over their so-called government.
Here is a more complete picture.
March 15: Reported - 351,000, Revised - 353,000
March 22: Reported - 348,000, Revised - 364,000 Reported - down, Actual - up
March 29: Reported - 359,000, Revised - 363,000 Reported - down, Actual - up
April 05: Reported - 357,000, Revised - 367,000 Reported - down, Actual - up
April 12: Reported - 380,000, Revised - 388,000 Reported - up, Actual - up
April 19: Reported - 386,000, Revised - 389,000 Reported - down, Actual - up
April 26: Reported - 388,000, Revised - 392,000 Reported - down, Actual - up
May 03: Reported - 365,000, Revised - 368,000 Reported - down, Actual - down
May 10: Reported - 367,000, Revised - 370,000 Reported - down, Actual - up
May 17: Reported - 370,000, Revised - 372,000 Reported - no change, Actual - up
May 24: Reported - 370,000, Revised - TBD Reported - down, Actual - TBD
Notice that in 7 of the 9 weeks numbers were reported in the headlines as down since they compare the revised number with the new number. Yet when the comparison is revised vs. revised the actual trend is a very negative one.
The BLS staff makes Enron executives look like boy scouts in their dealing with numbers.
Exactly
That is just about the neatest example of a numbers tap dance that I've ever seen in my lifetime.
I'd be embarrassed to write it, much less announce it from some bureaucratic office.
So, the announced number went from 370,000 to 370,000, last week to this week. To get the "improved" line for the media, the last week number was revised upward to 372,000.
idiots run our government.
Unemployment fell slightly for 1 week? Well, that means everyone should vote for Maobama!!!!/sarc
When Republicans are in office the reports sound something like this:
"The financial world was rocked today to learn that the unemployment rate only fell to 3.1% from 3.4%, shattering expectations of far better results. This unexpected slowdown in the decrease of the unemployed signals trouble ahead for the frustrated Republican administration, casting doubts on their capability to remain in office".
“idiots run our government”
They are just proving that “stupid is as stupid does”!
lol...pretty much.
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