Skip to comments.INITIAL JOBLESS CLAIMS JUMP TO 383K
Posted on 05/31/2012 5:35:26 AM PDT by sunmars
Analysts expect to see 370K weekly claims. That would exactly be in line with last week's 370K.
The number is one of the best high-frequency predictors of the economy and the market, so this is big. If this stays tame, it will do a lot to assure that things aren't deteriorating too badly.
UPDATE: The number is 383K, a miss from an upwardly revised.
(Excerpt) Read more at businessinsider.com ...
1Q GDP revised down to 1.9%, revised down from 2.2%.
US Q1 corporate profits decline largest since Q4 2008 (-26.5 PCT) according to Reuters.
... and THAT is “unexpected!”
This makes no sense. No matter how much the Democrats punish businesses for failing to do their share, employers refuse to step up and create the jobs that Obama voters demand. Perhaps a liberal think tank should look into why that happens.
Full credit to bluecat6:
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 - 373,000 Reported - down, Actual - up
May 31: Reported - 383,000, Revised - TBD
“The spike in claims was unexpected.”
-—, a sign that progress in reducing joblessness may be stalling-—
It’s hard to read the sign if it’s stapled to your forehead.
Job cuts jumped by 53% in May vs. April — most since Sept. and 67% more than in May 2011
They used to miss it by a 1,000 or 2,000 and revise upward.
Now, they are missing by 10,000 or more and revising upward.
How can this be? Obama created more jobs in 3.5 years than Bush did in 8 years. Surely, those experts are misreading the numbers. [/s]
If the GOP cannot capitalize on those figures for the election, they deserve to lose.
I’m sorry, did they “jump” or were they “expected to jump”, at the time the story was posted?
I bet the liberal mainstream media (CBS, CNN , NY times ,etc) doesn’t report this ( maybe on page 30 of the paper).
You beat me to my Thursday morning ritual!
I am just glad people are seeing the correct big picture and love the fact you posted this already.
I am not glad about the situation for any of us!
This is bad news for all Americans - regardless of race, regardless of background. The lowering tide is lowering all boats and the worst is obviously yet to come.
Strange though, how no one is actually going back to work/SAR
They didn’t “jump” at all, according to USA Today. They are reporting “Weekly Unemployment Claims Rise Modestly.”
Oh, let me guess (without reading the article)... they jacked last week’s numbers up to 410K and are crowing about a “drastic drop” of 27K first-time claims, spicing the numbers with the requisite trumpeting of the “rapidly accelerating economic recovery.”
And they’re now claiming any number below 500K equates to “job growth,” right?
And that's just so...
(Get ready for it...)
Thanks for posting that list- very helpful.
Which actually means it is probably closer to or over 400K and they will uietly revise it upward sometime in the next couple of weeks.
Unemeployment is actually closer to 15% IMHO if they used the true number of people unemployed insted of simply cutting and not counting people who give up looking...and how do they know that anyway? I meran exactly...who’s talking to friends and neighbors, whoe reading newspapers or watching online...it’s all a shell game and this admin has been the worst for shamelessly fudging the numbers to make themselves look as good as popssible.
You know the editors at the New York Times have to be the busiest workers in America, they have to constantly be on the look out and correct (remove from) the stories when the reporter uses the standard New York Times phrase ‘women and children hurt’ for stories such as this one about the economy under Obama!
I am waiting for the news reports to say that jobless claims below 400,000 mean that hiring boom is around the corner.
“You know the editors at the New York Times have to be the busiest workers in America,”
Snopes keps real busy, too.
They put out 327 articles TODAY to protect Hussein.
We all know this is BULLISH for the economy, as unemployment is economic stimulus. All those employment checks being spent will surely be a HUGE BOOST.
Democrats' notion of fostering a healthy business climate consists of the old saw "Whippings will continue until morale improves".
A couple interesting paragraphs from the Marketwatch.com version of the story:
“The number of people who applied for unemployment benefits last week rose to the highest level in more than a month, the government reported Thursday, in another sign the U.S. labor market is not improving as fast as it was earlier in the year.”
Riiiight. It WAS improving oh so fast.
“The spike in claims was unexpected. Economists surveyed by MarketWatch had projected that new applications for jobless benefits would total 370,000.”
Hell, who didn’t know bad economic news under Obama would be unexpected?
And the unemployment rate will be reported as dropping to 7.9% when the monthly numbers are released.
Amazing how Obama Math works.
All hail Obama.
I’ve got to stop this game.......
Yep, remember four weeks back 200k (70k in Calif. alone) lost their unemployment checks overnight. The reason? because those that lost there jobs early in the recession had exhausted there benefit thus dropping off the rolls reducing the unemployment rate. The special 20 week Fed. extension went bye bye on the bogus reduction in the unemployment rate.
Obongo will perform an F4 spin tomorrow when the Gubermint tells us unemployment is 7.9 -8.0. Let him, Corp. profits were reported down in the 1st quarter, weekly unemployment up. 200k no longer collecting unemployment, that 60 million dollars a week not being spent to support our Service Industry economy. To go along with Europe it's spinning perpetually out of control again IMO. Obumbo should be finished come Nov.
Expect the unexpected.
Otherwise, If Obama loses in a landslide that would be unexpected.
If Romney is our next President and is a true reformer that would be unexpected.
If Romney appoints conservative SCJ to the bench..that would be unexpected.
If America doesn’t crash and burn before this decade ends...well, you get the idea.
March 29 “Actual” should be down.
And really, “actual” should probably be “revised”, IMO, since there’s not much reason to believe the second lie any more than the first.
Excellent. It’s good to have this few months look how how “Reported” conflicts with reality. The agenda is self-evident.
Hope you didn't bet today's lunch money on that.
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