Weekly jobless claims rise less than expected

yahoo ^

[newzjunkey]

So it was "unexpected."

Last week's initial was increased by 4,000, this week's initial beats that number by 8,000 more, for a 12,000 initial-to-initial swing in the wrong direction.

This is reported as, "not that bad!"

Anticipate the unemployment rate to drop as more people abandoning all hope and more shift to disability.

[newzjunkey]

If the next weeks' revision rises 4% like this past weeks, we'll see it really did meet (or exceed) the 70K expected by economists.

It'll be reported as "good news" anyway and future weeks will again beat expectations as the reelection campaign requires.

[fhayek]

Three points:

#1 They revised last week's number upward by 4,000. So this weeks reported number is 12,000 higher than last weeks reported number. No doubt, this weeks number will be revised upward, so the week to week reported number really shoud be what you look at. Apples to apples and all.

#2 If you were putting out weekly data, and you had to upwardly revise your numbers every week by something in the order of 3000 units, wouldn't you somehow build and extra 3000 units into your weekly reporting? Unless, you, of course, could take advantage of the misreporting.

#3 360,000 new claims every week, this late into a 'recovery' is pathetic. If the economy was on any kind of solid footing, it would be significantly lower. I mean, we have been bleeding jobs now for three and a half to four years now. How many more jobs are there left to lose?