Posted on 05/17/2012 5:36:22 AM PDT by John W
WASHINGTON (MarketWatch) - The number of Americans who filed requests for jobless benefits was unchanged last week at 370,000, the U.S. Labor Department said Thursday.
Claims from two weeks ago were revised up to 370,000 from an initial reading 367,000.
Economists surveyed by MarketWatch had projected claims would fall to 365,000 on seasonally adjusted basis in the week ended May 12.
(Excerpt) Read more at marketwatch.com ...
No, no, no, Eastasia is our friend now, you must hate Eurasia.........
Goes unmentioned all the time. These things are written to make the casual reader believe only 370,000 people are looking for jobs.
Thanks for clearing that up.
The Market Watch headline just now-U.S. stocks decline again on Europe’s troubles.
That’s okay, you can make it up by screaming louder during the next Two Minutes Hate session............
Here was how our local news (radio-KTRH) reported it: “Stocks are down right now. Concerns about Europe overshadowing a promising jobs report.”
That’s incredible.
I would love to see a simple graph of how consistently the BLS low-balls the number as adjusted later, a plot of two traces, one the initial reports and the other the “revised” numbers.
“Continuing claims increased by 18,000 to a seasonally adjusted 3.27 million in the week ended May 5.”
This is exactly opposite of a growing economy.
These numbers don’t include the 250,000+ whose extended federal benifits were suspendend this month due to the April “improved” (skewed) numbers (before the revisions). Those 250,000+ unemployed workers are SOL and cannot make a continued claim, their 79 weeks of compensation are up, so they are no longer counted as either claimants or as unemployed, but they do count as part of the decline in claims. The truth is out there, but you won’t find it in the news media or from the government bean counters.
I think the market has long since discounted a contuing sluggish economy. It's a long stretch to call this one "promising" (the only thing it is promising is a continuation of a unusually long and deep recession), but it's no surprise to any investor with his eyes open.
The European crisis IS overshading the, more or less, status quo at home. Although I think most investors anticipated there would be continuing problems in Europe; how those problems will play out is in flux. Wall Street hates uncertainty.
With the huge JP Morgan loss, there may be concern about American financial institutions exposure in the event of a Euro crash. But, my lord, why is the administration jumping up and down about Morgan? So far as I have heard, they lost a great deal of their own money - that's between them and their stockholders. What about Courzine and the devestation of innocent investors through illegal activities? That's where the government should be involved and, like, enforce the law maybe?
Tell me if I'm missing something ...
Looks like the Consumer Confidence numbers released today weren’t very good. Obama SHOULD have a very, very tough road to re-election.
You should try the new Bureau of Labor Statistics diet. You can eat double food stamps (ask Leteesha how) and always lose weight every week! The seasonal adjustment tables are wonderful around Thanksgiving, Christmas, and the first of the month.
More bad news as the day goes on-—
Philly Fed factory index turns negative
Manufacturing activity shrinks in May for first time since September
... you COULD call this report accurate.If a cat has kittens in an oven, you COULD call them biscuts, it doesn't make it so.
TWO weeks ago???
These numbers are issued EVERY week, and the revisions for the PRIOR week are issued on the same day.
-—Stocks are down right now. Concerns about Europe overshadowing a promising jobs report.”——
LOL!
Think they consider what was released today as from one week ago.
HEy, I was just thinking about that brilliant piece of rettrick this morning.
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