Posted on 11/14/2013 6:25:40 AM PST by SeekAndFind
The number of Americans filing new claims for unemployment benefits fell last week, but an upward revision to the prior week's figure suggested the labor market recovery remained gradual.
Initial claims for state unemployment benefits fell 2,000 to a seasonally adjusted 339,000, the Labor Department said on Thursday. Claims for the prior week were revised to show 5,000 more applications received than previously reported.
Economists polled by Reuters had expected first-time applications to fall to 330,000 last week.
The four-week moving average for new claims, which irons out week-to-week volatility, dropped 5,750 to 344,000.
(Excerpt) Read more at reuters.com ...
UNEXPECTED !! There, I said it first.
So increasing the numbers from last week by 5,000 will show a bigger drop for this week. The lap dog media will comply appropriately.
So what is happening every Thursday is that the government releases the much lower, “unrevised” jobless claims numbers and then we get the REAL numbers the next week with a whole new batch of much lower, “unrevised” jobless claims numbers. That’s one hell of a way to run a country.
Just dump a few thousand more from the total workforce and the unemployment rate will drop again. No problem.
If I do the math correctly, raising last week by 5k gives us a 2k drop this week. In reality that means a net increase of 3k.
It goes down every week, but never gets any lower. A statistical Mobius Strip. Statisticians on peyote.
Prior week revised higher for 98 out of last 100 weeks.
The BHO administration lying to the American public again! Can he go a single hour without some whopper of a lie?
Gradual? That’s one way to describe it.
The goal of the left isn’t job growth, but welfare growth.
An accountant would go to jail for playing these kinds of games with the books.
But, what is the total amount of those who no longer get gov bennies, have no job, quit looking for a job and are mooching on mom and dad for a place to live and food to eat, and beer money, and date night money, and borrow dad’s 12 year old Edsel, and, . . . you know.
RE: mooching on mom and dad for a place to live and food to eat
There are government programs for that... no need to mooch off mom and dad.
Anybody watch the Janet Yellin dog & pony show in the Senate today?
Auuuugggh!
She used the term “Price/Equity Ratio” to justify her Keynesian belief that the Fed “Quantitative Easement” is not causing some sort of stock market bubble.
Duh! She clearly doesn’t know jack about the stock market. She showed her woeful ignorance in stock market terminology by making up a term for something she doesn’t understand. The correct term is “Price/Earnings” ratio and that is a commonly used to determine if the markets are overvalued.
The concept of “price/equity” ratios is already expressed in terms of “price-to-book” ratios!
The problem the Berkeley so-called “economist” doesn’t understand is that were it not for the EZ-money policies of the Fed, the STOCK MARKET WOULD BE MUCH LOWER TODAY. Period.
As Peter Schiff said:
“I had my money on the assumption that Obama would pick Yellin... That was because I expect Obama will choose the WORST one of the possible candidates. And Obama didn’t disappoint...”
Wow... Schiff nailed it.
In the Senate hearing, all the Elizabeth Warrens and Chump Shumers of the world were gushing all over her. That should be a bad sign.
We’re doomed.
I was looking for that stat. Thanks.
CA....
It goes down every week, but never gets any lower. A statistical Mobius Strip. Statisticians on peyote.
What an apt description.
I have very little regard for Yellen. She seems to have many agendas, but none that really help the American economy. Economics is not about printing money. It’s about giving incentives for people to be productive. Liberalism, by its very nature, is diametrically opposed to that.
Roger that, but I know of a few around here who are doing just that, mooching off mom and dad.
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