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Posted on 10/11/2012 9:48:27 AM PDT by bjc
“One omission by one state–you wouldn’t think it would be a big deal, but in this case it drove the number down by 10%,” said analyst Stephen Stanley with Pierpont Securities.
Economists are speculating the state could be California, the most populous state in the nation.
“It was likely a state with a large population and we suspect that it was California based on the occasional massive swings that have occurred in its claims data in the past,” said Daniel Silver, an economist with JPMorgan, in a note.
“In short, this reading is worthless in terms of informing on the general economy,” Mr. Stanley wrote in a research note.
(Excerpt) Read more at blogs.wsj.com ...
Probably the USUAL Suspects(CA, NY, IL or MA).
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If one were a cynic...
Using this method, I’d almost expect Obama to achieve full unemployment. Simply stop counting the unemployed. Notice that the problem of the homeless, so often reported during Republican administrations, has largely disappeared. Obama and the MSM, using techniques of the Stalinist era, can create a utopia this way.
I should have said, “Using this method, I’d almost expect Obama to achieve full employment. Simply stop counting the unemployed. Notice that the problem of the homeless, so often reported during Republican administrations, has largely disappeared. Obama and the MSM, using techniques of the Stalinist era, can create a utopia this way.”
If the person in charge of generating the weekly/monthly statistics at a state employment dept is on vacation when the reports are due, then later revisions result.
My guess is California.
Agree they hope to get funding from the dems in D.C. and they will do anything for a buck.
If a publicly traded company, IBM, for example, failed to include the results of one of its largest divisions in one of its earnings reports, the officials responsible would be sent to jail. It’s a crime to misrepresent a company’s financial situation. Why else are so many former Enron officials rotting in jail today?
And it’s much worse when a government department like the BLS excludes a major state from its employment figures, since many more people around the world base their investment decisions on U.S. employment figures than on earnings reports of individual companies.
In addition, whereas there’s a possibility that IBM’s excluded division may have had positive earnings, which would have bettered IBM’s overall earnings report, there is NO CHANCE that leaving out ANY state’s newly unemployed would have bettered the BLS’s new-unemployment-applications report.
That’s because EVERY state has newly unemployed each week, particularly large states, so leaving out any state’s newly unemployed makes the entire country’s unemployment situation look better.
Where are the journalists who spent months excoriating Enron over its cooked books, writing endless tomes about its officials’ malfeasance, now when the country’s government has committed the same crimes on an even greater scale?
how many electoral votes are they worth?
As I stated early this morning... it was California and confirmed by Fox and Rush.
LLS
As I stated early this morning... it was California and confirmed by Fox and Rush.
LLS
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We are fast approaching banana republic standards. The more these government agencies lie to the people, the more they undermine the rule of law and the people’s faith in our republic.
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