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Jobless claims drop sharply in latest week
marketwatch.com ^ | October 11, 2012 | Greg Robb

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.

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


TOPICS: Breaking News; Business/Economy; News/Current Events
KEYWORDS: jobless; unemployment; unexpected
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To: John W

” A Labor Department economist said one large state didn’t report additional quarterly figures as expected, accounting for a substantial part of the decrease. “


51 posted on 10/11/2012 6:28:36 AM PDT by TigerClaws
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To: Democrat_media

No! It’s a Miracle! He is THE ONE! He prayed and jobs miracles were delivered!!!!

Oh and the Non seasonally adjusted jobless claims ROSE by 22,000.

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


52 posted on 10/11/2012 6:28:40 AM PDT by whitedog57
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To: AFPhys

250 million adults over age 18 living in the US

133,500,000 jobs in the US in September 2012

53% = lowest ever number of adults working in jobs as % of population


53 posted on 10/11/2012 6:31:09 AM PDT by Democrat_media (limit government to 5000 words of laws. how to limit gov Quantify limited government ..,)
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To: John W

Maybe the turnaround is due to Mitt Romney’s surge in the polls.

But 339,000 is nothing to brag about....it only looks good in comparison to Obamugabe’s normal crappy numbers.


54 posted on 10/11/2012 6:31:47 AM PDT by SoFloFreeper
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To: SoFloFreeper

And they “accidentally” left out a large state, just in time to help Obama win the election. the media will report this every minute to every American.

Had enough yet?

We need civil war 2.


55 posted on 10/11/2012 6:33:46 AM PDT by Democrat_media (limit government to 5000 words of laws. how to limit gov Quantify limited government ..,)
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To: TomGuy

Heard the same and it is SHOCKING to me that they released the report. Absolutely unbelievable.


56 posted on 10/11/2012 6:34:55 AM PDT by Wyatt's Torch (I can explain it to you. I can't understand it for you.)
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To: whitedog57

They “accidentally” left out a large state, just in time to help Obama win the election. the media will report these bogus numbers every minute to every American


57 posted on 10/11/2012 6:35:51 AM PDT by Democrat_media (limit government to 5000 words of laws. how to limit gov Quantify limited government ..,)
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To: littleharbour
This will all be corrected on Thursday, November 8th. The bureaucrats will express shock that their numbers could have been so wrong.

You, Rush and many others have predicted this.

Hopefully, the scales are falling off the koolaid washed masses eyes, and they're seeing these numbers for what they really are...LIES!

58 posted on 10/11/2012 6:35:51 AM PDT by Jane Long (Soli Deo Gloria!)
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To: jjsheridan5

I wonder if that was OHIO?........


59 posted on 10/11/2012 6:35:51 AM PDT by Red Badger (Is it just me, or is Hillary! starting to look like Benjamin Franklin?.................)
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To: RobertClark
So, we can assume that it is a LARGE democrat controlled state: CA, OH, PA, NY, or IL.

Here in PA our Governor is Republican, and the GOP controls both houses of the State Legislature.


60 posted on 10/11/2012 6:36:56 AM PDT by Buckeye McFrog
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To: ilgipper
"Let me guess...Illinois?"

Well, I'd say that's a good bet!

61 posted on 10/11/2012 6:37:32 AM PDT by texanyankee
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To: Lazamataz

I can smell DC from my house (in Texas!)


62 posted on 10/11/2012 6:38:20 AM PDT by austinaero
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To: John W

California did not include their data in this report.

LLS


63 posted on 10/11/2012 6:42:07 AM PDT by LibLieSlayer ("If it looks like you are not gonna make it you gotta get mean, I mean plumb mad-dog mean" J. Wales)
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To: jersey117
one big state has not given their numbers in this report, thus this report is totally bogus and for the first time in my life I have seen this corruption on this scale.

I’m betting that it was CA which has not given their numbers this week but as far as we know it's a big state which has withheld their numbers this week.

The media will report this as good news and yet not inform the public how this is an incomplete report and not included all states.

There has to be an investigation into who is doing these numbers and these cover ups, fast and furious, Libya, shooting of a border agent, family can;t get answers, green energy pay off to donors, and now these numbers last week and now this week and OF COURSE HOW THIS MEDIA HAS WORKED FOR YEARS WITH THIS WHITE HOUSE TO LIE AND COVER FOR THEM

64 posted on 10/11/2012 6:43:57 AM PDT by manc (Marriage =1 man + 1 woman,when they say marriage equality then they should support polygamy)
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To: Old Retired Army Guy

one big state has with held their numbers and thus this is an incomplete report and not included all states.

So what we can be looking at besides a cover up and lies is the numbers could be over 400,000 claimed first time and that is why these numbrs were with held because how can they say unemployment down but claims up


65 posted on 10/11/2012 6:46:00 AM PDT by manc (Marriage =1 man + 1 woman,when they say marriage equality then they should support polygamy)
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To: rockabyebaby

A friend that should know told me it is California... moonbeam helping obamao.

LLS


66 posted on 10/11/2012 6:46:09 AM PDT by LibLieSlayer ("If it looks like you are not gonna make it you gotta get mean, I mean plumb mad-dog mean" J. Wales)
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To: John W

Happy times are here again. 339,000 people lost their jobs!


67 posted on 10/11/2012 6:46:36 AM PDT by JIM O
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To: John W

At least CNN admits it’s due to an issue with one state’s numbers:

“Much of the drop last week was caused by an anomaly, a Labor Department analyst told CNNMoney. One state posted a large decline in claims, which is not typical during the last week in September.”


68 posted on 10/11/2012 6:47:15 AM PDT by rwfromkansas ("Carve your name on hearts, not marble." - C.H. Spurgeon)
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To: rockabyebaby

A friend that should know told me it is California... moonbeam helping obamao.

LLS


69 posted on 10/11/2012 6:52:02 AM PDT by LibLieSlayer ("If it looks like you are not gonna make it you gotta get mean, I mean plumb mad-dog mean" J. Wales)
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To: John W

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


70 posted on 10/11/2012 6:54:33 AM PDT by Raebie (WS)
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To: LibLieSlayer

I heard the same garbage on the news.

How do you throw out a report like this and say one “large” state didn’t supply data, and not even mention which state it is?!!

DAMN... These reporters sure go ALL OUT when trying to get the facts, don’t they?!


71 posted on 10/11/2012 6:55:16 AM PDT by RogerWilko
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To: John W

the Labor Department said that “one large state didn’t report some quarterly figures.”


72 posted on 10/11/2012 6:55:28 AM PDT by stylin19a (Obama -> Ransom "Rance" Stoddard)
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To: manc

I agree - the corruption is rampant and blatant. Yet obama’s running a point ahead of Romney in the latest Rassmussen poll. I am really nervous about where this country is headed.


73 posted on 10/11/2012 6:56:04 AM PDT by jersey117
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To: John W
Coincidentally timed in the weeks leading to Obama's reelection. Shocked! /s

This isn't all that surprising. First, it's seasonal hiring time again but those jobs vanish at year's end. Also, to claim unemployment you have to be eligible for benefits. Thousands, if not millions, exhausted their unemployment benefits. At some point even a lackluster economy stops shedding jobs in large numbers, but are those people getting hired or did they give up? The real problem is the official numbers lie because it totally ignores the labor participation drop.

74 posted on 10/11/2012 6:59:56 AM PDT by newzjunkey (Osama's dead... and so is our ambassador - Coulter.)
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To: jersey117
it's the media which are lying for him, but if they actually did their jobs then his numbers woudl tank and the media knows this.

Lets not forget voter fraud too and how that is reported.
The media make it out that it;s alright to just vote and not have proof of who you and republicans are bad people and yet they never point out the voter fraud, the corruption and how illegals etc are voting

75 posted on 10/11/2012 7:08:55 AM PDT by manc (Marriage =1 man + 1 woman,when they say marriage equality then they should support polygamy)
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To: ilgipper
It could very well be Illinois that is the "unreporting" state.

Motorola, headquartered in a Chicago suburb, just laid off 4000 in one fell swoop......including my nephew.

Leni

76 posted on 10/11/2012 7:19:37 AM PDT by MinuteGal
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To: newzjunkey

when you don;t count one large state and then have an incomplete report on these numbers then of course the numbers look better.

Hearing that CA did not submit their first claim numbers this week, so here we go again just before na election.

Fudged numbers, CA helping to get their messiah elected and the obama cult will run around saying how this number is good but ignore how a big state did not een give their numbers on this report


77 posted on 10/11/2012 7:21:41 AM PDT by manc (Marriage =1 man + 1 woman,when they say marriage equality then they should support polygamy)
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To: John W

From Business Insider:

It Looks Like The Huge Drop In Jobless Claims Was All Due To One Mystery State
Sam Ro | 11 minutes ago | 995 | 3

Earlier this morning, the Bureau of Labor Statistics 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.

But there maybe something wrong with the data. From Bloomberg:

One state accounted for most of the plunge in claims, a Labor Department spokesman said as the data were issued to the press.

Initially, rumors started circulating that that an entire state’s worth of jobless claims was excluded.

The BLS was not immediately available to comment.

However, CNBC’s Kelly Evans is reporting that the discrepancy is that “one state did not process & report its typical seasonal workload” and that a rebound next week is likely.

We will update as we get more details.

Read more: http://www.businessinsider.com/jobless-claims-impacted-by-one-state-2012-10#ixzz2905t8HPL


78 posted on 10/11/2012 7:28:45 AM PDT by Wyatt's Torch (I can explain it to you. I can't understand it for you.)
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To: John W

79 posted on 10/11/2012 7:29:53 AM PDT by Wyatt's Torch (I can explain it to you. I can't understand it for you.)
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To: John W

One large state did not report quarterly numbers. I wonder which Obama-loving state that was.


80 posted on 10/11/2012 7:34:37 AM PDT by CharlesWayneCT
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To: John W
L Ø L



             

81 posted on 10/11/2012 7:38:12 AM PDT by tomkat
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To: newzjunkey

I said it to my wife many months ago, that I would put NOTHING past this guy in his bid to keep his job.. nutt’n.

no one believes these numbers, that I hear talking about in stores and at the gym.. and this is a Lib state (California)..

cooked books.


82 posted on 10/11/2012 7:47:59 AM PDT by Chuzzlewit
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To: jersey117; John W

They are lying, probably same group that`s incharge of embassy security


83 posted on 10/11/2012 7:49:52 AM PDT by Friendofgeorge (SARAH PALIN 2012 OR BUST)
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To: Thom Pain

According to http://www.ssa.gov/oact/STATS/dibStat.html the number of awards for the month of September was 72,687, which is up 9.58% from 75,459 for August 2012.


84 posted on 10/11/2012 7:51:51 AM PDT by Grubwart
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To: John W
On Jan. 24th, the numbers will miraculously skyrocket to 400,000+ and the economy again will be the worst since Hubert Heever. Just watch...
85 posted on 10/11/2012 7:56:44 AM PDT by EGPWS (Trust in God, question everyone else)
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To: John W
It Looks Like The Huge Drop In Jobless Claims Was All Due To One Mystery State
86 posted on 10/11/2012 8:04:44 AM PDT by blam
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To: RogerWilko
What it is doing with every single lie that the Fed spews out from dims working for the Fed is that they are destroying forever the confidence OF THE PEOPLE in our government and the people that work for us. Everyone knows this is a lie... and revised numbers that they will be FORCED to reissue ... will be revised upward and will probably go beyond 400,000 new jobless claims. It is sad that we have a Fed that is no more honest and trustworthy than the governments that reign in Beijing or Moscow.

LLS

87 posted on 10/11/2012 8:05:25 AM PDT by LibLieSlayer ("If it looks like you are not gonna make it you gotta get mean, I mean plumb mad-dog mean" J. Wales)
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To: Grubwart

shouldn’t the latter number be 65,459?


88 posted on 10/11/2012 8:06:27 AM PDT by rfp1234
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To: TigerClaws

” A Labor Department economist said one large state didn’t report additional quarterly figures as expected, accounting for a substantial part of the decrease. “

The relentless revision and trivial data fudging continues..


89 posted on 10/11/2012 8:21:40 AM PDT by RedhairRedhair (I STILL love my (scab made) Toyota)
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To: LibLieSlayer
I just caught CBS news on the radio at the top of the hour and they're going ALL IN on the jobs report!

They touted it as great news, moving in the right direction, and that economic conditions are improving!

Although... They conveniently forgot to mention that one large state didn't report!

HMMMM... That's odd, at least FOX news reported the missing data. It's almost like they're deliberately trying to mislead people for some strange reason!

90 posted on 10/11/2012 8:31:16 AM PDT by RogerWilko
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To: John W
"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."

http://www.zerohedge.com/news/2012-10-11/data-massaging-continues-initial-claims-tumble-339k-lowest-2008-far-below-lowest-exp

91 posted on 10/11/2012 8:31:55 AM PDT by Qbert ("The best defense against usurpatory government is an assertive citizenry" - William F. Buckley, Jr.)
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To: John W; Neil E. Wright
As a past owner of 3 small companies who knows a little about employing people, it's no surprise to me why unemployment numbers are dropping. There are very simple reasons why this "appears" to be happening:

Background: Unemployment statistics are mostly based on Bureau of Labor Statistics (BLS) data of who apply for NEW unemployment insurance (UI) weekly and those still currently drawing UI. Phone surveys mean little, just like political polls.

1. Companies have downsized about as much as they can from the 2009 recession, which means less layoffs and less claims for UI, and was bound to level out eventually;
2. Many people are running out of their 99 weeks (now welfare) of UI, which takes them off the official roles of the unemployed. They become what I call, "The Forgotten".
3. Now factor in the thousands of recent high school and college graduates who can't apply for UI and the real number of unemployed grows further.

The true measure of unemployment are the millions of those who are no longer in the work force or subsisting on under-employment for various reasons and graduates living with their parents because jobs are just not available. Those numbers are difficult to verify, but we all know "The Forgotten" are out there. Just about everyone knows someone who can't find a job or has just given up and retired and living on largess of family.

Since Romney is a successful businessman, I would like to see his campaign and PAC organizations explain the above in the simplest terms. If he let's Obama preach the BLS new applications for UI applications plus those falling off the 99 weeks, he is going to lose that debate. Or am I missing something?

92 posted on 10/11/2012 8:34:58 AM PDT by A Navy Vet (An Oath is Forever)
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To: RogerWilko

This crap is getting scary.


93 posted on 10/11/2012 8:41:59 AM PDT by Democrat_media (limit government to 5000 words of laws. how to limit gov Quantify limited government ..,)
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To: John W

One entire large state FAILED TO REPORT...

Welfare parasites no longer have to report they are looking for work to receive handouts.

THEY ARE COOKING THE BOOKS, folks. Right before the election, too.


94 posted on 10/11/2012 8:43:55 AM PDT by tcrlaf (Election 2012: THE RAPTURE OF THE DEMOCRATS)
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To: Democrat_media
I liked how ABC News flew to the White House to interview Obama last night, making it the lead story. Gave him a chance to explain the debate flub and beg viewers to stay with him. Was interesting Diane Sawyer closed by saying they plan to interview Governor Romney too, "when we can get the scheduling done."

nice afterthought

95 posted on 10/11/2012 8:49:29 AM PDT by mikhailovich
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To: TomGuy

BREAKING NEWS:
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.

From a couple of different financial sites, it appears that state that didn’t report is ILLINOIS!!!

Gee, imagine that one, eh???


96 posted on 10/11/2012 8:50:24 AM PDT by tcrlaf (Election 2012: THE RAPTURE OF THE DEMOCRATS)
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To: John W

I have it on good authority that the States were all asked to drop people from the UI lists and so they did. Many unemployed people that have tried to start a UI claim have been rejected and many more simply dropped and their claims closed. Colorado, for instance, is at least 100,000 claims behind and is expected to get up to speed “in a few months”, after the election. This has been going on ever since Obama was elected, late 2008 time frame. The propaganda is in full force to make it seem that fewer people are unemployed.

The funny thing with liberals: Liberals think words are actions. No President has ever been re-elected with an above 8% unemployment number. That’s because those unemployed don’t vote for him. However, liberals believe that all they have to do is say that the unemployment number is below 8% and it will have the same affect.


97 posted on 10/11/2012 9:05:26 AM PDT by CodeToad (Padme: "So this is how liberty dies... with thunderous applause.")
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To: LibLieSlayer
A friend that should know told me it is California... moonbeam helping obamao

You were RIGHT! I just heard it on FOX.

You leave out the HUGEST population state in the country, with lousy unemployment and run with that?! UNFRIGGIN' BELIEVABLE!

98 posted on 10/11/2012 9:11:48 AM PDT by RogerWilko
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To: RogerWilko

Rooters, CNN and AP have reported the missing data... cbs only causes further damage to their company.

LLS


99 posted on 10/11/2012 10:14:22 AM PDT by LibLieSlayer ("If it looks like you are not gonna make it you gotta get mean, I mean plumb mad-dog mean" J. Wales)
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To: RogerWilko
I knew it! My buddy works for a company that has to know the truth. Look for 400,000 to be the new revised unemployed number. I just read where California shed 280,000 jobs to Texas alone this year... their numbers will be 40,000 or more added to this lying report... THIS WAS DONE ON PURPOSE TO HIDE THE TRUTH!

LLS

100 posted on 10/11/2012 10:20:24 AM PDT by LibLieSlayer ("If it looks like you are not gonna make it you gotta get mean, I mean plumb mad-dog mean" J. Wales)
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