Posted on 08/18/2011 5:37:03 AM PDT by magellan
Edited on 08/18/2011 7:01:46 AM PDT by Admin Moderator. [history]
New U.S. claims for unemployment benefits rose more than expected last week, according to a government report on Thursday that suggested hiring in August was steady but not robust.
Initial claims for state unemployment benefits increased 9,000 to a seasonally adjusted 408,000, the Labor Department said.
Economists polled by Reuters had forecast claims rising to 400,000. The prior week's figure was revised up to 399,000 from the previously reported 395,000.
The claims data covers the survey week for August nonfarm payrolls. Claims dropped by 14,000 between the July and August survey periods, but there are fears that financial markets turbulence could have slowed hiring this month.
Employers added 117,000 jobs in July, a significant improvement from the prior two months' combined 99,000 gain.
Fears of a second recession...
Excerpt, Continue Here
[Fox News has reported July jobless claims at 408,000. Economists were expecting 400,000.]
the lame stream media talked for DAYS- how job
numbers were great -LITTERALLY days of non stop
hype over the 395,000 figure-
My husband is a statistician and is infuriated by the constant “revising up” of unemployment numbers. If they were calculating the numbers according to proper statistical models, there would be times when the numbers would be revised down; however, he knows that the models they are using are purposely biased in this way to that the first (lower) numbers are always released.
The upside is more potential people on food stamps to stimulate this bad boy!
It’s obviously the Tea party’s fault. This happened because of the debt ceiling negotiations. That excuse should work at least until the end of the year. Well, I guess Bush is happy he’s off the hook for being blamed for everything.
...and "headwinds".
This was unexpected!
Hey..."winnow it" down!
...and "headwinds".
... and ATM machines.
... and the Internet.
... and George W. Bush.
... and John Boehner.
... and (drum roll please) ... The Tea Party!
Then again, if they were honest about GDP numbers as well, they'd remove government spending from the equations.
Let's face it, we're getting snookered by our government at every turn.
We're gonna have to do something about that, soon...
Actually, it was not July monthly jobless claims, it was last week’s jobless claims. I forget we are running at almost one and three quarters million jobs lost per month.
410? Probably 435.
“Just a bump in the road”.
So idiotic how the market hangs on this useless stat every single week.
That classic CNBC headline should really lead this thread:
Jobless Claims, Inflation Rise More Than Expected
Obama just doesn’t seem to get it. When you sweep the dirt under the rug it just turns up later in a larger lump under another part of the rug.
I hope he will learn to be amused. They're not real statisticians, just professional liars. Everyone knows they are lying, and it doesn't reflect on the honest members of our profession. We all know there are statisticians you go to for the truth and those you pay for the answer you want. Our economic numbers come from those in the second category.
I think that they are rolling dice to figure out the numbers. After all - this seems to be all a big “game” to the numbers folks.
When unemployment in D.C. among youths is reported at 50% what more can they do?
If only the Tea Party had allowed a tax increase, joblessness would be a thing of the past!
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