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Data Massaging Continues: Initial Claims Tumble To 339K Lowest Since 2008, (trunc)
Zero Hegde ^

Posted on 10/11/2012 5:57:28 AM PDT by Perdogg

This is just getting stupid. After expectations of a rebound in initial claims from 367K last week (naturally revised higher to 369K), to 370K (with the lowest of all sellside expectations at 355K), the past week mysteriously, yet so very unsurprisingly in the aftermath of the fudged BLS unemployment number, saw claims tumble to a number that is so ridiculous not even CNBC's Steve Liesman bothered defending it, or 339K. Ironically, not even the Labor Department is defending it: it said that "one large state didn't report some quarterly figures." Great, but what was reported was a headline grabbing number that is just stunning for reelection purposes. This was the lowest number since 2008.

(Excerpt) Read more at zerohedge.com ...


TOPICS: Business/Economy; News/Current Events
KEYWORDS:

1 posted on 10/11/2012 5:57:32 AM PDT by Perdogg
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To: Perdogg

How can they just leave out a large state?


2 posted on 10/11/2012 6:06:01 AM PDT by MrChips (MrChips)
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To: Perdogg

How can they just leave out a large state?


3 posted on 10/11/2012 6:06:12 AM PDT by MrChips (MrChips)
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To: MrChips

Maybe the electoral vote count can just sort of “leave out” that state’s votes, too - just to be consistent...


4 posted on 10/11/2012 6:10:21 AM PDT by butterdezillion
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To: Perdogg

How conveeeeeenient.


5 posted on 10/11/2012 6:15:34 AM PDT by albionin
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To: Perdogg

On this news, the Fed should shut down QEternity....their mandate has been satisfied.


6 posted on 10/11/2012 6:15:49 AM PDT by Roccus
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To: MrChips

Large state?

CA?


7 posted on 10/11/2012 6:16:26 AM PDT by Texas Fossil (Government, even in its best state is but a necessary evil; in its worst state an intolerable one)
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To: MrChips

It’s a great question, you would think they’d add in an average number for the past 4 weeks or something to make it more “real.”


8 posted on 10/11/2012 6:19:48 AM PDT by mykroar (October race/religious riots bring November martial law. Voting postponed for your safety.)
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To: Roccus
On this news, the Fed should shut down QEternity....their mandate has been satisfied.

That is exactly what I was thinking. Why institute a policy of perpetual easing when the mandate has been fulfilled? Unfortunately, most people don't see the correlation since neither the media nor the schools teach the blurry world of macro economics.

9 posted on 10/11/2012 6:26:29 AM PDT by RobertClark (Be prepared, be polite, be professional and have a plan to kill everyone you meet.)
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To: Perdogg
Ironically, not even the Labor Department is defending it: it said that "one large state didn't report some quarterly figures."

Mexico?

10 posted on 10/11/2012 6:27:05 AM PDT by VeniVidiVici (I'm no racist!! I just hate white folks!!! - BHO 2007)
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To: Perdogg

Effing bull chit


11 posted on 10/11/2012 6:27:31 AM PDT by combat_boots (The Lion of Judah cometh. Hallelujah. Gloria Patri, Filio et Spiritui Sancto.)
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To: Perdogg

Obama the Liar.


12 posted on 10/11/2012 6:30:12 AM PDT by chris37 (Heartless.)
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To: RobertClark
...neither the media nor the schools teach the blurry world of macro economics.

They don't teach it because NON of them can see past their noses. Hell, I've only got a 50 year old HS diploma and I understand more.

13 posted on 10/11/2012 6:30:18 AM PDT by Roccus
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To: Texas Fossil

California is in the report, with one of the largest weekly increases.

They obviously have data for avery state; but, the report does not indicate which state was left out.


14 posted on 10/11/2012 6:30:37 AM PDT by lacrew (Mr. Soetoro, we regret to inform you that your race card is over the credit limit.)
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To: Texas Fossil

We need to find out what state it is.


15 posted on 10/11/2012 6:35:58 AM PDT by MrChips (MrChips)
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To: VeniVidiVici

Good one!


16 posted on 10/11/2012 6:37:52 AM PDT by ecomcon
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To: MrChips

How can they just leave out a large state?

Because it helps Obama get elected. And the media will report the headline to every American that “unmemployment claims are lowest since 2008” the fact that the numbers are fake makes no difference to these marxists.


17 posted on 10/11/2012 6:41:48 AM PDT by Democrat_media (limit government to 5000 words of laws. how to limit gov Quantify limited government ..,)
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To: Perdogg

Is this what living in the Soviet Union was like? I always wondered...


18 posted on 10/11/2012 6:45:51 AM PDT by Wyatt's Torch (I can explain it to you. I can't understand it for you.)
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To: Perdogg

:: “one large state didn’t report some quarterly figures.” ::

Typical Dhimmirat proceedure. Same reason Detroit/Chicago/Milwaukee report their vote totals late...they need to see what the true-up number is (and then peg it!).


19 posted on 10/11/2012 6:55:59 AM PDT by Cletus.D.Yokel (Catastrophic Anthropogenic Climate Alterations - The acronym explains the science.)
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To: MrChips

One large state left out. Should be a massive revision.
Or it was divine intervention!

http://confoundedinterest.wordpress.com/2012/10/11/its-a-miracle-initial-jobless-claims-rise-to-327k-nsa-but-magically-fall-to-339k-sa/


20 posted on 10/11/2012 6:58:43 AM PDT by whitedog57
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To: Perdogg

Doesn’t matter how they cheated. They got the headline they wanted. This will be reported as fact on the radio breaks all day - all night on the newscasts, etc.

We are looking at pure corruption at the BLS.


21 posted on 10/11/2012 7:01:29 AM PDT by nhwingut (Sarah Palin 12... No One Else)
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To: Perdogg

Was it New York? From the report:

“Extended Benefits were only available in New York during the week ending September 22.”

http://www.dol.gov/opa/media/press/eta/ui/current.htm


22 posted on 10/11/2012 7:02:01 AM PDT by Raebie (WS)
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To: MrChips

California? Would make a huge dent in the rate. If it is Cal, bet the actual rate is 370,000 +


23 posted on 10/11/2012 7:05:25 AM PDT by qman (The communist usurper must go!)
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To: qman

I heard it might be New York. How can we find out?


24 posted on 10/11/2012 7:13:34 AM PDT by MrChips (MrChips)
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To: MrChips

From the report:

“Extended Benefits were only available in New York during the week ending September 22.”

http://www.dol.gov/opa/media/press/eta/ui/current.htm


25 posted on 10/11/2012 7:23:17 AM PDT by Raebie (WS)
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To: Raebie

Not sure what that actually means.


26 posted on 10/11/2012 7:48:40 AM PDT by MrChips (MrChips)
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To: MrChips

Me either. I’m hoping someone smarter than me knows and can explain. :-)


27 posted on 10/11/2012 7:55:44 AM PDT by Raebie (WS)
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To: MrChips

“We’ve Gotten To The Bottom Of The Mysterious Jobless Claims Report!”

http://www.freerepublic.com/focus/f-news/2943386/posts

It is likely that some of the jobless claims in one large state—California—were not included in the claims reported to the Department of Labor this week. This happens occasionally, our source says. When a state’s jobless claims bureau is short-staffed, sometimes the state does not process all of the claims that came in during the week in time to get them to the DOL. The source believes that this is what happened this week. The California claims that were not processed in time to get into this week’s jobless report will appear in future reports, most likely next week’s or the following week’s. In other words, those reports might be modestly higher than expected.

The source believes that the number of California claims that were not processed totalled about 15,000-25,000. Thus, if one were to “normalize” the overall not-seasonally-adjusted jobless claims number, it would increase by about 15,000-25,000.


28 posted on 10/11/2012 11:10:35 AM PDT by Texas Fossil (Government, even in its best state is but a necessary evil; in its worst state an intolerable one)
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To: lacrew

it was CA not fully reporting


29 posted on 10/11/2012 11:12:11 AM PDT by Texas Fossil (Government, even in its best state is but a necessary evil; in its worst state an intolerable one)
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