Skip to comments.Weekly Jobless Claims Unexpectedly Dip
Posted on 08/09/2012 6:08:15 AM PDT by mykroar
The number of Americans filing new claims for jobless benefits unexpectedly fell last week, government data showed on Thursday, suggesting a modest improvement in the labor market.
Initial claims for state unemployment benefits slipped 6,000 to a seasonally adjusted 361,000, the Labor Department said. The prior week's figure was revised up to 367,000 from the previously reported 365,000.
Economists polled by Reuters had forecast claims rising to 370,000 last week. The four-week moving average for new claims, a better measure of labor market trends, rose 2,250 to 368,250.
(Excerpt) Read more at foxbusiness.com ...
Happy Days are here again!!!
Another summer of recovery. /s
Back to school seasonal work doesn’t last forever.
Report lower & then revisions upward aren’t noted later - everyweek.
So last weeks go up 2000, and this weeks is a 6000 reduction from the revised figures from last week. This weeks numbers are really a 4000 reduction from last weeks original numbers which is not a significant change, but it sure looks better to show a 6000 reduction vs a 4000 reduction to show how much ‘improvement’ we have. Jeez.
” suggesting a modest improvement in the labor market “
And what will it ‘suggest’, when this number is quietly adjusted down next week??
Lies, damn lies, statistics, and BLS reports.....
Employers in the retail and restaurant industries are more likely than other companies to drop their health plans or cut workers’ hours when new health-law requirements take effect in 2014, according to new data from the consulting firm Mercer.
“seasonally adjusted” = propaganda
With so many small businesses having closed, there is a ever-shrinking number of jobs available, which statistic the Obama administration uses to prop up the percentage-employed number. (If only one job remained, and one person was employed, they would count it as 100% employment!)
No one is fooled by these bogus numbers, except the media, that wants to be fooled.
This is such a scam. Apples and oranges.
“Initial claims for state unemployment benefits slipped 6,000 “
NO THEY DIDN’T! They are comparing initial numbers (apples) with revised numbers (oranges).
They only slipped 4,000!!, an even smaller drop in the bucket. Somehow this is spun to look like good news. It isn’t. This number is WAY too high, IF I believed it to be accurate.
Unexpected? Propaganda failure! The rules make it clear: bad news is unexpected, good news is just what the media and administration expected. Claiming that good news is unexpected and therefore implying that bad news is the norm under Obama is a quick way to have your computer smashed and get audited on top of that.
Plus, they were better 5 weeks ago, so the moving average actually gets worse.
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Statistically insignificant as it’s within the margin of normal revisions.............
If all this is unexpected, where can we find what the experts expect so we can see how far off they are?
Look for those numbers to continue to drop until just shortly after the election.