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US unemployment aid applications rise to 386K
AP via Yahoo news ^ | June 14, 2012 | Christopher S. Rugaber

Posted on 06/14/2012 5:59:29 AM PDT by John W

WASHINGTON (AP) — More Americans sought unemployment aid last week, suggesting hiring remains sluggish.

The Labor Department said Thursday that weekly unemployment benefit applications rose 6,000 to a seasonally adjusted 386,000, an increase from an upwardly revised 380,000 the previous week.

The four-week average, a less volatile measure, rose for the third straight week to 382,000. That's the highest in six weeks.

Weekly applications are a measure of the pace of layoffs. When they drop below 375,000, it typically suggests hiring is strong enough to reduce the unemployment rate.

(Excerpt) Read more at news.yahoo.com ...


TOPICS: Breaking News; Business/Economy; News/Current Events
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1 posted on 06/14/2012 5:59:33 AM PDT by John W
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To: John W

“When they drop below 375,000, it typically suggests hiring is strong enough to reduce the unemployment rate.”

The figure was 325,000 until Obama took office. Doesn’t really matter since most of the numbers being put out are phony anyway.


2 posted on 06/14/2012 6:03:33 AM PDT by Stevenc131
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To: John W

Not sure how I missed this brilliancy last week-—

Federal Reserve Chairman Ben Bernanke said last week that the warm winter might be a reason for the slowdown in hiring. He also suggested that the burst of job gains earlier this year could have represented a “catch-up in hiring” by employers who cut too deeply in the recession.


3 posted on 06/14/2012 6:04:06 AM PDT by John W (Viva Cristo Rey!)
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To: John W

Finally...we must be experiencing the vaunted “summer of recovery”. Thank Goodness for nobama, biden and their wonderful policies. If I were only smart enough to understand how they are so all-seeing and all-knowing.


4 posted on 06/14/2012 6:04:48 AM PDT by hal ogen (First Amendment or Reeducation Camp?)
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To: John W

Let me be the first to say..... “UNEXPECTED!”


5 posted on 06/14/2012 6:05:04 AM PDT by exit82 (Democrats are the enemies of freedom. Be Andrew Breitbart.)
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To: John W

That pretty much confirms Helicopter Ben is a victim of the Peter Principle, doesn’t it?


6 posted on 06/14/2012 6:06:38 AM PDT by upchuck (Need is not an acceptable lifestyle choice; dependent is not a career. ~ Dr. Tim Nerenz)
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To: John W

Dumb American businessmen and job candidates...caught with their shorts down when the winter is too cold. Caught again when the winter is too warm. These people are so stupid they don’t deserve to stay in business or have jobs.

Remind me again...what year was the perfect Mama Bear winter when Goldilocks did maximum hiring and no laid nobody off?


7 posted on 06/14/2012 6:08:47 AM PDT by ProtectOurFreedom
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To: exit82

“Economists surveyed by MarketWatch had projected claims would fall to 376,000.”


8 posted on 06/14/2012 6:12:16 AM PDT by John W (Viva Cristo Rey!)
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To: Stevenc131

Last week’s figures were “upwardly revised” this week? What a surprise — just how many times has that happened in the past four years?


9 posted on 06/14/2012 6:12:42 AM PDT by laconic
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To: John W

“The economy is doing fine’ -obamma


10 posted on 06/14/2012 6:12:55 AM PDT by rawhide
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To: Stevenc131

Last week’s figures were “upwardly revised” this week? What a surprise — just how many times has that happened in the past four years?


11 posted on 06/14/2012 6:13:01 AM PDT by laconic
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To: John W

And of course-—

“Claims from two weeks ago were revised up to 380,000 from an original reading of 377,000, based on more complete data collected at the state level.”


12 posted on 06/14/2012 6:15:00 AM PDT by John W (Viva Cristo Rey!)
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To: John W

And in other news, Foreclosures Spike 9% in May:

http://www.freerepublic.com/focus/f-news/2895164/posts


13 posted on 06/14/2012 6:15:59 AM PDT by cuban leaf (Were doomed! Details at eleven.)
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To: Stevenc131

The actual figure was 200,000.


14 posted on 06/14/2012 6:17:28 AM PDT by Perdogg
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To: John W

You can pretty much bet that 386K will be revised to 390K+ after next week’s “adjustment”.


15 posted on 06/14/2012 6:18:10 AM PDT by Starboard
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To: cuban leaf

“Last week’s figures were “upwardly revised” this week? What a surprise — just how many times has that happened in the past four years?”

I think that is now 65 out of the last 66 weeks.

Also, this should put a damper on his major economic speech today.


16 posted on 06/14/2012 6:18:31 AM PDT by Free America52 (The White guys are getting pissed off. We beat Hitler Hirohito and Krushchev. Obama will be easy.)
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To: John W

RE: weekly unemployment benefit applications rose 6,000 to a seasonally adjusted 386,000, an increase from an upwardly revised 380,000 the previous week.

Yes, I remember it was reported at 377,000 last week. And I have been observing for the longest time that the weekly revision has always been UP, never down. Which tells me that this week’s 386,000 will be revised UP next week.

To make a long story short — the numbers are getting worse, not better.


17 posted on 06/14/2012 6:18:31 AM PDT by SeekAndFind (bOTRT)
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To: rawhide

Misquoted.

Here is the actual quote:

‘”the private sector is doing fine.”’


18 posted on 06/14/2012 6:19:07 AM PDT by rawhide
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To: laconic

The 65th upward revision in 66 weeks.

http://www.exposingtheleft.blogspot.com/2012/06/us-unemployment-aid-applications-rise.html


19 posted on 06/14/2012 6:20:02 AM PDT by traderrob6
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To: upchuck

—That pretty much confirms Helicopter Ben is a victim of the Peter Principle, doesn’t it?—

Naw. It’s not that they are dumb. They know there is no way out of this. Their job is not to save the Titanic. Their job is to try to keep it afloat a little longer. They’ve actually been surprisingly successful.

After all, fiat money, markets, etc. depend on faith. Their job is to keep faith from falling to the point where everyone is trying to get out. I call that critical mass. It has taken a while, and they’ve been able to lie and obfuscate long enough to fool enough people to at least have enough faith that we have not hit our critical mass point yet.

It really is looking like we’ll reach critical mass this year, however. I think the election is one of the catalysts.


20 posted on 06/14/2012 6:20:28 AM PDT by cuban leaf (Were doomed! Details at eleven.)
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To: John W

“Economists surveyed by MarketWatch had projected claims would fall to 376,000.”

Like a lot of other surveys this one is probably skewed in favor of Democrat economists.


21 posted on 06/14/2012 6:21:47 AM PDT by Starboard
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To: John W

Econ-0-Misseds................


22 posted on 06/14/2012 6:22:27 AM PDT by Red Badger (Think logically. Act normally.................)
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To: Free America52

I think you meant to reply to post eleven, but both of you are discussing what I always think when I see the unemployment numbers. It’s funny to watch them spin. It only works for those that are not really paying attention.


23 posted on 06/14/2012 6:23:27 AM PDT by cuban leaf (Were doomed! Details at eleven.)
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To: laconic

65 out of 66 weeks, I think...that is “unexpected”...:))


24 posted on 06/14/2012 6:25:04 AM PDT by jennings2004 (President Hayes, Mount Rushmore, telephone, Dear Leader...what a mix!)
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To: John W

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 - 380,000 Reported - down, Actual - down
June 14: Reported - 386,000, Revised - TBD Reported - up, Actual - TBD

Based on data above the odds of an upward revision next week is 100%.

Like the stock market the support level is 400,000. If the numbers go above that it is a political nightmare of the current administration. But worse - it means we have a definite double dip and people will be hurting.


25 posted on 06/14/2012 6:25:17 AM PDT by bluecat6 ( "A non-denial denial. They doubt our heritage, but they don't say the story is not accurate.")
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To: John W

Two things I’ve learned are true, especially watching the results of this administration: anyone can be a “Constitutional scholar,” and anyone can be “an economist.” They’d be just about as correct as these vaunted Ivy Leaguers with all the credentials.


26 posted on 06/14/2012 6:25:49 AM PDT by Lou L (The Senate without a filibuster is just a 100-member version of the House.)
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To: traderrob6

“The 65th upward revision in 66 weeks.”

A scandal that begs to be investigated. BLS officials need to be summoned to the Hill to explain why the revisions are always conveniently to the upside. Taxpayers are paying for this outrageous ledgerdemain.


27 posted on 06/14/2012 6:25:58 AM PDT by Starboard
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To: cuban leaf

” Their job is not to save the Titanic. Their job is to try to keep it afloat a little longer. “

Just long enough to push the women and children aside so they can have the lifeboats all to themselves...


28 posted on 06/14/2012 6:26:13 AM PDT by Uncle Ike (Rope is cheap, and there are lots of trees...)
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To: Free America52

Nothing “dampers” the Idiot In Chief...what a loser!


29 posted on 06/14/2012 6:26:32 AM PDT by jennings2004 (President Hayes, Mount Rushmore, telephone, Dear Leader...what a mix!)
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To: Uncle Ike

—Just long enough to push the women and children aside so they can have the lifeboats all to themselves...—

Well, to cut them a little slack, if you were in their shoes and it was obvious to you that the ship is going down and your job is to keep it upright for the passengers, what would you do?

I’m not saying they are right, but what may be happening here is that they are just trying to keep the ship afloat as long as possible, which IS their job. Of course, the analogy breaks here because the REAL Titanic plunged to the bottom and it didn’t matter how fast or deep. In our case, it does.

That is, what they are doing could result in an absolute catastrophy that was really not necessary.

I believe this will end with WWIII.


30 posted on 06/14/2012 6:29:36 AM PDT by cuban leaf (Were doomed! Details at eleven.)
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To: John W

Where is our 8% unemployment and deficit cut in half...?
That Bush is a tricky guy the way he “structurally” built in all that overspending against Obammy’s will.
plus I am sure Sarah Palin’s rhetoric is wrecking Obama’s good works.


31 posted on 06/14/2012 6:31:24 AM PDT by Leep (Enemy of the Statist)
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To: John W
The Labor Department said Thursday that weekly unemployment benefit applications rose 6,000 to a seasonally adjusted 386,000, an increase from an upwardly revised 380,000 the previous week.

EVERY WEEK they upwardly revise the previous week's numbers.

32 posted on 06/14/2012 6:31:35 AM PDT by dirtboy
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To: John W
The Labor Department said Thursday that weekly unemployment benefit applications rose 6,000 to a seasonally adjusted 386,000, an increase from an upwardly revised 380,000 the previous week.

EVERY WEEK they upwardly revise the previous week's numbers.

33 posted on 06/14/2012 6:31:47 AM PDT by dirtboy
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To: John W

In the past two weeks, 240k have fallen off the 99 week cliff and are no longer counted. They, likely, sure as he77 are not employed, but thankfully, for Obama, they are no longer counted as unemployed.


34 posted on 06/14/2012 6:32:39 AM PDT by RobertClark (Be prepared, be polite, be professional and have a plan to kill everyone you meet.)
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To: John W
The Labor Department said Thursday that weekly unemployment benefit applications rose 6,000 to a seasonally adjusted 386,000, an increase from an upwardly revised 380,000 the previous week.

Whoops. They failed to "upwardly revise" last week's totals to 390K to show a "drop" of 4K. Somebody's going to the woodshed over that one.

35 posted on 06/14/2012 6:40:34 AM PDT by ScottinVA (Buying Drain-O requires photo I.D... yet voting doesn't???)
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To: John W

Obama administration = Hanlon’s Razor


36 posted on 06/14/2012 6:43:15 AM PDT by The Political genius
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To: John W

Upwardly revised again from the previous week. This week’s 6000 rise would have been 9000 without the upward revision, but that isn’t really the issue.

The issue is that 386,000, more than a third of a million people, went on unemployment checks last week. The week before it was the same, and it’s the Obama standard...except when nearly a half million were going on unemployment checks each week.


37 posted on 06/14/2012 6:43:47 AM PDT by xzins (Retired Army Chaplain and Proud of It! Those who truly support our troops pray for their victory!)
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To: Stevenc131

Yes, and we know this week’s phony # will be revised upward when next week’s phony # is announced.


38 posted on 06/14/2012 6:44:03 AM PDT by 9YearLurker
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To: Leep
I wish some reporter with a spine would remind Obama that he was one of the Senators who voted for all this structurally built-in spending that he is now blaming GWB for. For that matter, so were Biden & Hillary.

They all helped to "bake the cake"!

39 posted on 06/14/2012 6:54:21 AM PDT by mellow velo (Oxymorons: jumbo shrimp, rap music, liberal think-tank)
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To: exit82

I haven’t seen the word used quite as often. I guess some journalists are starting to realize they’re being made fun of.


40 posted on 06/14/2012 6:55:35 AM PDT by MNDude ( Victimhood is the Holy Grail of liberalism)
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To: John W

If I’ve learned anything over the past couple of years, it’s that when first-time unemployment claims go up, the unemployment rate goes down.

So this is good news!


41 posted on 06/14/2012 6:56:36 AM PDT by St_Thomas_Aquinas (Viva Christo Rey!)
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To: John W

If it’s Thursday, it’s unexpected...


42 posted on 06/14/2012 6:56:42 AM PDT by neodad (USS Vincennes (CG-49) Freedom's Fortress)
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To: Stevenc131
The figure was 325,000 until Obama took office. Doesn’t really matter since most of the numbers being put out are phony anyway.

If I remember correctly, during President Bush's tenure, the Lame Stream Media pushed the 250K-275K mark as the "maintaining" level and something around 200K-250K as the "improving or lowering unemployment" level! PUTZES!

It doesn't matter though, because most Americans, those paying any attention at all, KNOW that these numbers are bogus BS and mean diddly-squat to their current situation!
43 posted on 06/14/2012 6:58:03 AM PDT by ExTxMarine (PRAYER: It's the only HOPE for real CHANGE in America!)
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To: mellow velo
CAKE?!? Did somebody say 'cake'?!?

44 posted on 06/14/2012 6:58:55 AM PDT by evets (beer)
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To: John W
from an upwardly revised 380,000 the previous week.

Hey Rocky! Watch me pull a rabbit out of my hat.

Again?!


45 posted on 06/14/2012 7:06:31 AM PDT by KarlInOhio (You only have three billion heartbeats in a lifetime.How many does the government claim as its own?)
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To: John W

It doesn’t matter what the numbers are. The books are cooked anyways.

The numbers are WAY worse than what they are reporting. Nobody and I mean NOBODY in this government can be trusted. PERIOD!


46 posted on 06/14/2012 7:06:46 AM PDT by unixfox (Abolish Slavery, Repeal The 16th Amendment!)
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To: John W

” More Americans sought unemployment aid last week.......”

___________________________________________________________

And I was one of them. First time I had to do it after 19 years of employment.


47 posted on 06/14/2012 7:08:02 AM PDT by TMA62 (Al Sharpton - The North Korea of race relations)
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To: neodad
If it’s Thursday, it’s unexpected...

And if it's (insert day of the week), it's Bush's fault.

48 posted on 06/14/2012 7:09:27 AM PDT by Night Hides Not (My dream ticket for 2012 is John Galt & Dagny Taggart!)
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To: cuban leaf
I’m not saying they are right, but what may be happening here is that they are just trying to keep the ship afloat as long as possible, which IS their job.

I would agree to a certain extent and the real blame lies with the voters but still the Fed keeps saying it is unsustainable but that is about the most it does to educate the public and in the meantime they often go out of their way to show that they are buddies with the socialists, recall Greenspan making a big point of attending Clinton's state of the union speech.

49 posted on 06/14/2012 7:10:47 AM PDT by bkepley
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To: bluecat6

Pretty piece of work combing through that data - thanks.

And to summarize what you presented:

For the last four months, this is what was reported by the regime: Unemployment claims went DOWN 9 of those weeks, up only 3.

For the last four month, this is REALITY (after revisions): Unemployment claims actually went down only 3 of those weeks, they really went UP for 9 of them.

And the MSM order another delivery of crickets.


50 posted on 06/14/2012 7:11:30 AM PDT by Stosh
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