Posted on 10/11/2012 7:52:56 AM PDT by Beave Meister
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." Great, but what was reported was a headline grabbing number that is just stunning for reelection purposes. This was the lowest number since 2008. The only point to have this print? For 2-3 bulletin talking points at the Vice Presidential debate tonight. Everything else is now noise.
(Excerpt) Read more at zerohedge.com ...
Link is broken..It came up the first time, but didn’t look like the correct link, so I tried again and gone!
I just tried it and it worked....
Worked for me. Try this: http://www.zerohedge.com/news/2012-10-11/data-massaging-continues-initial-claims-tumble-339k-lowest-2008-far-below-lowest-exp
And pray tell, why does the BLS not inform the public which state did not report? Are we not entitled to that information? To paraphrase Ronald Reagan,” “We paid for these numbers!”
Got it thanks...Obviously this was the headline they needed to keep the polls looking good for Obama on the economy. Clintonians ain’t got nothing on this gang.
Ah yes, the latest numbers from the Ministry of Truth.
WHICH STATE!!!
Kalefornia.
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