Skip to comments.Jobless claims drop sharply in latest week
Posted on 10/11/2012 5:53:50 AM PDT by John W
WASHINGTON (MarketWatch) -- First-time claims for state unemployment benefits fell sharply in the latest week to their lowest level since February 2008, the Labor Department reported Thursday. The number of initial claims in the week ending Oct. 6 fell 30,000 to 339,000. The decline was unexpected.
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It’s absolutely amazing how everything is turning around for obama just in the nick of time. These numbers have consistently been between 350,000 and 400,000 since he took office.
Another source indicates this week’s data: “...may reflect difficulty adjusting the data for seasonal swings at the start of a new quarter.”
339,000 will be revised up, like it always is.
The government and media want us to believe that Obama has fixed the economy. We on freerepublic at least see the fraud this Obama marxist POS and the media are perpetrating.
Just like fund raising... He was sucking wind and then, magically, he sets a record.
They will fall even further when they report this week next Thursday because it is a 4 day week (Columbus Day). Then they will have 2 more to report before the phoney Labor Dept. numbers on Nov. 2nd.
According to the labor dept. one large state didn’t report some quarterly figures.
This will all be corrected on Thursday, November 8th. The bureaucrats will express shock that their numbers could have been so wrong.
That’s crazy. This is totally expected. All kinds of retailers were announcing a need for part-time seasonal help the last few weeks. Target was saying it’s hiring 3 times the normal numbers.
It’s a bunch of part-time seasonal hires, imho.
“Falling sharply” in my book means a drop of 100,000. At least now a drop is “unexpected.”
Everything is magically seasonally adjusted until after the election. We need a 2nd civil war. I’m tired of these government idiots and the media.
Surprise surprise surprise
I was expecting this when I discovered earlier today that these figures were going to be released.
Brings up to my mind, “Have you no shame, sir?”
We are in a depression with lowest workforce participation ever, homelessness exploding, incomes falling etc: Ryan and Romney need to hammer them with this fact that the percentage of adults working is the lowest ever in history.
These numbers reported by the government are a joke, fraud to be seasonally adjusted after the election.
Just 2 more Thursday manipulations.
I am betting they can get the number just under 300,000 the Thursday before the election.
After the election it won’t matter whether they have to revise UP by 100,000.
If Romney wins, he inherits the worst economy in US history.
If Obama wins, he will continue welding his ‘fundamental change’ into America.
The news that the numbers were “revised upward” in a few days will be lost, of course ...
From the Dept of We Made It UP.
Last week when the UE rate dropped under 8%, a caller to KLBJ in Austin had an excellent idea. Check the IRS records and see if there are more people contributing to verify the numbers.
Everything is fine now 3 weeks before the election, nothing to see here move along!
No one will buy it. Not one person.
I thought we'd see 5% un-employmnent for the Election published, but it's close now, with sudden drop to under 8%.
How ANYONE with more than 2 active brain cells would think these numbers were for ANY REASON other than to make The Messiah look good, is beyond common sense.
It was the seasonally adjusted number that dropped by 30000. The not seasonally adjusted number went up by 26,000. Why? Last year, there was a massive spike in claims caused by the massive layoffs of government employees at the start of the new fiscal year. This was an one time occurrence and should not be adjusted for. But the Labor economists are either totally incompetent or decided to look the other way.
I read headline on wall street journal that a big state was not included.. I tried to go to link but couldn’t find article.. Also, monday was a holiday which will affect numbers.
Yeah leave out a state , etc. then the media will make sure every American hears these bogus numbers every minute until the election.
Now after some idiots believe these fake numbers , Obama will win the election and Obama will issue an executive order for all to line up to get your tracking chip implanted in your neck which will show 0 unemployment. How much more will we take?
Obamacare is government limiting our freedom of choice and is socialism taking over our healthcare..
Government is too big already, this expansion of government , this takeover of healthcare is tyranny.
Government is the problem and it has grown at all levels every single year, every month for the last 100 years.
They are tracking our kids in schools with smart IDs, Moochel is telling kids what they can eat, Bloomberg banned big sodas in New York, Obama took over our healthcare, They banned 100 watt light-bulbs , they tell us that we have to discriminate to hire people (affirmative action), soon cars will have to be 27 mpg , etc. This crap has to stop.
I started to write a first draft on how to finally limit government for the first time ever. something has to be done as the problem is government. Its in personal page here.
Unless you count the people that have given up on finding employment in the jobless numbers I’m afraid the numbers don’t mean spit.
How many thousands were added to the SSA Disability rolls in the same time frame?
Why is the Food Stamp recipients number constantly moving up, when un-employment is supposedly going down?
How many Americans are out of work, ran out of un-Employment eligibility time (99 weeks), and yet, there's all these "jobs" being created?
Stuart Varney on FoxNews is saying that THIS REPORT IS INCOMPLETE.
One ‘large’ state is NOT included in the data.
That ‘large’ state is unnamed in the report.
What state didn’t report? Something stinks.
Claims in the previous week were revised to an increase of 6,000 to 369,000 compared with the initial estimate of a gain of 4,000 to 367,000.
I heard the same thing. Seems there is one state (un-named) that hasnt turned in a report.
Probably NY or CA. One of the libbies could affect numbers this dramatically.
Due to a 100% failure of the media to do their job we are living in a world with virtually unlimited information which is virtually useless.
Truth and lies are applied to the same facts. One can only conclude that the facts are not in fact, facts.
Nobody in government service should be allowed to stay in their jobs if this is the best we can do.
Such manipulation of facts would get you fired (or indicted) in a heartbeat in the private sector.
Being mostly communists, I know nothing from the dems can be trusted and knowing the GOP has become infested with the progressive cancer that assimilated the dems, I don’t trust much of what they tell me.
If a company which sells soup can be fined for false advertising then we should be able to impose whopping fines on anyone manipulating the numbers in government as some real permanent damage can and is being done.
To shrug this off and not demand from all our representatives, legislation to restore the term FACT to government, means the end of the experiment in a Representative Republic.
The number is incomplete in that it omits the results from a “large state”. I’m sure that will be included in the reporting./s
Varney just reported that one state’s data is missing from the report. And there is no indication which state that is. Once again - the initial release is flawed but reported loudly and the correction will come quietly later when nobody is listening. Fraud.
Let me guess...Illinois?
WOW! What a coincidence! Just in the nick of time, too! Man that Obozo sure is lucky! And it was all UNEXPECTED, TOO!...............
I heard on the FOX radio too of the hour break report that a large state didn’t submit unemployment numbers for last month. This is the first I’ve heard of this?
That is the story behind the number that isn't making headlines. So, we can assume that it is a LARGE democrat controlled state: CA, OH, PA, NY, or IL. These numbers are so absurd that the Labor dept. is not even trying to defend them. CNBS even called BS. Yet, don't look behind the curtain - many sheep are buying into how well the economy is doing. That is, unless you run a business or work in the real world.
We do NOT have the “lowest workforce participation ever” though it is the lowest for a couple decades.
It MAY be accurate to say that we are now experiencing the lowest participation rate among adult men, but I don’t have time to go check that at www.bls.gov now.
You are using the government as your source.
Fact is as a percentage of adults lowest % have jobs in history (not by the gov definition and the gov numbers). And if you leave out those in government jobs , it’s even less, and then take away those that “work” for non-profits, and what is the % then , those that are in real jobs, then take away government contractors, and It’s the lowest ever ,
Heard that too. Why isn’t FOX or CNBC reporting this?