Posted on 10/11/2012 9:26:49 AM PDT by markomalley
Earlier this morning, the Department of Labor reported that initial jobless claims plunged to 339K from 369K a week ago.
Economists were looking for a reading of 370k.
Immediately, Twitter exploded with tweets mocking Jack Welch, who claimed last week's jobs report was fixed to artificially drop the September unemployment rate to 7.8 percent from 8.1 percent in August.
Coincidentally, cryptic messages came through from Bloomberg and the WSJ that raised doubts about today's report. From Bloomberg:
(Excerpt) Read more at businessinsider.com ...
Oh, please, Joe, bring it up tonight in the debates. Please, please...
Kalipornia is in such a hole that I can believe that seasonal employment became seasonal no-employment. Their answer is like France’s 75% income tax. Totally backward.
1- Collect taxes for stimulus
2- $$$
3- Economic recovery
The most likely state is Florida, New York, California, Texas in that order.
Claims dropped by 8 percent. FL and NY have 8 percent of the US pop.
mmmMMMMMMmmmmmm.......
Kelley Evans........
Oh, yeah, it’s one of Obama’s 7 new states. Others are Confusion, Despair, and Affairs.
Lots of companies with fed contracts were told to not send out lay off notices til after the elections. It that tampering?
Barack
....or sometime after the election.
IMHO the only thing that matters in all that is, is the ‘actual’ number remain over 8%
By Nov. there will be a labor shortage reported by the BLS.
Depends on how many Unemployment recipients expire. This is the time of year they will expire OR they will desperately jump to a temp/part time job knowing that ALL emergency federal unemployment ends at the beginning of Jan 2013.
I would guess 7.5% or lower
Well yeah but not in regards to this number. The Obama administration said they would take care of the WARN Act violation penalties. Unconscionable.
That number will be released Friday November 2nd. I’m going to guess that it goes up to 8% because more people “think” that the economy is improving and will therefore start to look for jobs and not find them but will now be counted as unemployed. That and the September +873K will be revised downward. Just a guess...
If the BLS hadn’t got caught, they could have dropped another state next week and another the following week — to get the number below the psychological 300,000 mark — the final report before the election.
I have to look for the link but I read an article this morning about companies laying off full time employees and hiring additional part timers.
Firing 7 full time employees and hiring 10 part timers to make up the difference is a net gain of 3 new jobs.
Can anyone predict the rate in December? It will be out after the election?
Don't worry, Rush is reading FR while on air . You can tell by the order of topics and his verbatim reading of the posts.
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