Skip to comments.Weekly US jobless claims drop 42K to 338K
Posted on 12/26/2013 2:29:24 PM PST by gooblah
WASHINGTON The number of Americans applying for unemployment benefits dropped by 42,000 last week to a seasonally adjusted 338,000, the biggest drop since November 2012. But economists say the figures from late November and December are warped by seasonal volatility around the Thanksgiving, Christmas and New Year's holidays.
(Excerpt) Read more at lasvegassun.com ...
LOL! More funny stuff from our government. PERIOD!
Hmmmmm, I wonder how much of this is due to the expiration of Federal unemployment cash and long term unemployed being dropped off the rolls? It sure as heck isn’t because of all those great new jobs.
Seasonal hiring. Look for increases early next year.
Look for increases early next year....Oh, horsepoop. They’ll lie again. And again. And again.
Actually, the NSA number only dropped 82 claims based upon the initially reported data for the previous week.
The seasonally adjusted numbers are totally bogus!
Pure lies like everything this government puts out. There is no truth in the US Government today... none.
None of it, actually. Care to know more?
None of it, actually. Care to know more?
I know how they calculate it!
I understand your attempt at humor (quite creative, actually), but please . . . I’m trying to clear up a basic misconception that, if left unchecked, makes conservatives look like idiots when it comes to economics.
The DOW gained 122 points, based on the good news that there were only 338,000 jobless claims this week. This doesn’t make any sense.
Most of us are aware of the "sleight of hand" methodology in how the fedrool gum'ts calculates of this. They only show NEW applications for unemployment claims, and NEVER add those that fall from the roles to the unemployed without receiving further payments. Those folk are not looking for work, according to the feds.
Even when you look further, they do everything to conceal the actual number of unemployed, and continue printing imaginary dollars so that big banks can continue to prop up the stock market.
There WILL BE a day of reckoning and when that happens, CW2 after the collapse of the clinging class!
For further research, see:
Look! Squirrel! (pay no attention to the man behind the curtain!)
.....................The seasonally adjusted numbers are totally bogus!.......................
Well that’s just not true!
The BLS calls up Louie Farrakhan weekly to have him give them the new equation of the numbers for correction of the real reported numbers based on the phase of the moon, and the proximity of Jupiter and Mars to each other.
Then we get the reported seasonally adjusted BLS-LF scaled seasonal numbers!
It is the MSM and Dimocraps that manage/damage the conservative image...
Let me try to take this one step at a time. First of all, everyone knows that the government massages the numbers. Only some know how.
So let's begin. This article (until the end) is about intial unemployment claims. By definition, exhausting your unemployment benefits will not affect this number. It regards people who have lost their job, are eligible for unemployment compensation, and choose to apply for it for the first time.
Now, at the end of the article, the focus shifts to the unemployment rate. Unemployment compensation, and whether you receive it, received it, or couldn't receive it, does not affect its calculation at all. And please, let me remind you to read my first sentence again.
oops . . . I meant to type, “please read my second sentence again.”
I said: ... Most of us are aware of the "sleight of hand" methodology in how the fedrool gum'ts calculates of this. They only show NEW applications for unemployment claims, and NEVER add those that fall from the roles to the unemployed without receiving further payments. ...- wvk
Is there a difference that I don't see in our statements, other than the wording? I have been repeating that mantra for years now, as the roles swell of people looking for jobs.
Osama won the first round when the WTC fell, and the entire world ground to a halt. We have
spent wasted $trillions in an attempt to calm the minds of the malleable. Obama is now setting the stage further down the road for a financial devastation worse than the world has ever seen. 1929 will seem like a picnic in the park!
No, that still seems to be too scientific for this administration
Now we are getting into the weeds, but still: if you collected unemployment compensation at one time, but it expired, then "falling from" the rolls would be shown in the continuing claims number (again, not "initial claims").
Now (and here is the primary avenue for the unemployment rate number to be massaged), if you continue to look for work you count. If you stop looking for work, you don't. This involves a number called the labor participation rate.
A misconception I see on FR a lot, also, is the assumption that people stop looking for work when their unemployment compensation runs out. Some do, some don't.
$338,000 per week for four weeks would be nearly 1.4 million.
UPS drivers and mall Santas...
It’ll be readjusted upward in a couple weeks—back page news in 6 font.
Last month the unemployment rate dropped to 7% in November from a 7.3% October rate. A .3% drop because of only about 200K new November jobs is impossible! I did hear a blurb that they “refigured” the birth/death model and applied it over some period of time and the resulting revised population numbers allowed for the big drop in the unemployment rate. What a crock! This reminds me of two or three years ago when they applied the new census data and dropped the unemployment .3% by removing a million people from the work force.
The MSM buys it all and trumpets it big time. Bernake does his QE, the Dow goes up and all is good. NOT