Weekly Jobless Claims Tick Up 2K

FoxBusiness.co ^ | 08/16/2012 | Reuters

[mykroar]

The number of Americans filing new claims for jobless benefits edged higher last week although a trend reading fell close to a four-year low, pointing to ongoing healing in the labor market.

Initial claims for state unemployment benefits slipped 2,000 to a seasonally adjusted 366,000, the Labor Department said on Thursday. That was in line with economists' forecasts in a Reuters poll.

[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 - 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 - 389,000 Reported - up, Actual - up
June 21: Reported - 387,000, Revised - 392,000, Reported - down, Actual - up
June 28: Reported - 386,000, Revised - 388,000, Reported - down, Actual - down
July 05: Reported - 374,000, Revised - 376,000, Reported - down, Actual - down
July 12: Reported - 350,000, Revised - 352,000, Reported - down, Actual - down
July 19: Reported - 386,000, Revised - 388,000, Reported - up, Actual - up
July 26: Reported - 353,000, Revised - 357,000, Reported - down, Actual - down
August 2: Reported - 365,000, Revised - 367,000, Reported - up, Actual - up
August 9: Reported - 361,000, Revised - 364,000, Reported down, Actual - down
August 16: Reported - 366,000

Since March (and well before that I believe) the initial is ALWAYS lower than the revised.

Many times this has lead to invalid headlines by the media.

[Leep]

There a problem with joblissness or the economy in the US?

How can that be?

Is it Romney’s fault?

[mykroar]

It’s because all the racist employers won’t hire. /s

[rurgan]

That shows it is deliberate fraud.

[unixfox]

Funny how they mince words of approval when it’s a democRAT in charge. However, when Bush was in charge they used headlines like...

UNEMPLOYMENT AT NEW HIGH

UNEMPLOYMENT AT RECORD HIGHS

UNEMPLOYED SEEK FOOD LINES

POVERTY UP, HOMELESS SHELTERS FULL

And on and on and on!!!!!!!

[unixfox]

The whole damn system is a fraud. The tax code, the agencies, those in charge.

THE WHOLE DAMN SYSTEM IS BROKEN!

The “FIX” will be CWII.

[newzjunkey]

I like that.

Jobless claims actually went up 5,000 initial-to-initial over the prior week but they "only" increased 2,000 as expected in the official propaganda.

[oncebitten]

It's sad I know. I used to be a live and let live kinda guy, but the avarice and sense of entitlement of people who have contributed nothing; combined with the continuous insults and usupations of those who work hard and pay the freight, has harderned my position. My wife is from Peru and I've been several times, if you don't work, guess what, you don't eat. Everyone works.

[TwelveOfTwenty]

So let's see, unemployment claims increased from upwardly revised numbers last week, housing starts dropped, poverty is up, and prices are rising, and what does the stock market do?

DOW up 85.33
NASDAQ up 31.46
S&P up 9.98

American is clearly overdosing on hopium.

[Typical_Whitey]

This is Obama pravda because this country will never willingly submit to Socialism and they know the stealth approach using the media to hypnotize the masses is the only way.

[therightliveswithus]

Another Recovery Summer

[Abiotic]

Here comes QE 3. Jackson Hole, baby. Timed to boost Obama, Wall St, etc., on another artificial high designed to dupe the lemmings and blow out the dollar.

[In Maryland]

""......although a TREND READING fell CLOSE to a four-year low......"('trend reading' to the rescue. Quickly, factual BAD news is suddenly GOOD news because of a voodoo, iffy 'trend reading' that is 'close')

It would be nice if they specified WHICH trend reading they were talking about. I think economists on both sides of the aisle accept that a 30 day moving average on unemployment claims is more dependable than a weekly figure - weather, holidays, etc can impact weeklies, but those variables tend to get evened out with a 30 day moving average.

But the figures I really want to hear are how these unemployment figures and trends stack up against prior "recoveries". Normally I would expect initial claims to be on a consistently falling trend during a "recovery" because I would expect that new unemployment would decrease very significantly before hiring starts. But it seems to keep rolling along in the same old range ...

[QuestingElf]

aspartame

[QuestingElf]

I meant to say

aspartame (a word denoting Equals)

[Magnatron]

How can this be possible when Dem-backer Google alone announced layoffs of 4000 at their Motorola facilities last week?

http://www.huffingtonpost.com/2012/08/13/google-motorola-mobility-layoffs-cuts-employees_n_1771692.html?utm_hp_ref=technology

[timestax]

Let us talk about unemployment numbers !