Sorry Obama, the age of the Internet that counters media spin deems you to be:
Posted on 06/07/2012 6:47:35 AM PDT by SeekAndFind
What a tangled web.
It must be Thursday!
The betting pool is now open on what this week's jobless claim number will be revised to next week.
Let me start the fun with this week's 377,000 being revised to 382,000.
State UE offices were closed on Memorial Day...
I think they will revise last weeks numbers back down and this weeks up so that next week’s will be a drop in new ... I’m confused now.
The reports from the Department of Labor are a joke. Crap in, crap out.
More specifically "Agenda in, lies out"
“anything under 1,000,000 mean 0bama is the lord and savior” /s
I’m starting to think I could use this tactic regarding my shoe addiction.
Me: Yeah, but since I bought three pairs last week, two pairs this week is actually an IMPROVEMENT.
Him: I thought you bought TWO pairs last week?
Me: I miscounted. It was actually three. Soo... IMPROVEMENT going on here!
Him: How many pairs do you already have?
Me: Those don’t count because I’ve already worn them.
Heck, that tactic keeps confusing at least half the population, surely I can vet it to work on ONE person!
LLS
The media orgasms over every drop in claims, even though the drop is usually in the revision range. I have been following this metric fairly closely, and the media used to say that economists believe that 250,000 weekly jobless claims were a sign of a healthy economy. That number has gradually been escalating to 300,000, then 350,000. Lately I have seen that anthing below 400,000 was the magic number. They count on a dumbed-down readership doesn't remember earlier stories, and just swallows whatever propaganda that is being peddled.
There. Fixed.
Is the benchmark for wildly positive job growth at <500K yet?
LOL! I love your shoe analogy. Now to put it into practice...hmmmmmm. :)
The last paragraph in the yahoo/Reuters report says that 5.97 MILLION were currently getting weekly unemployment.
http://finance.yahoo.com/news/jobless-claims-fall-labor-market-123446149.html
That, of course, excludes all those who have exhausted their UE benefits and are no longer even counted.
We all need to leverage this ‘initia’ and ‘revised’ trick!
Here are the trend numbers.
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 - down
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 chg, Actual - up
May 24: Reported - 370,000, Revised - 373,000 Reported - down, Actual - up
May 31: Reported - 383,000, Revised - 389,000 Reported - up, Actual - up
June 07: Reported - 377,000, Revised - TBD Reported - down, Actual - TBD
They could not manage to hide the up fact last week. But they did keep it at 10,000 last week vs. the revised and more accurate 16,000. (389,000 vs. 373,000).
They can not even keep the numbers below the mythical 370,000 that supposed AP says is ‘good’. We are clear now in ‘not good’ territory.
The 4 week average that they love to quote is now at its high in the last 4 weeks.
Recovery? What recovery?
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