Posted on 10/25/2012 7:08:41 AM PDT by SeekAndFind
Edited on 10/25/2012 7:16:35 AM PDT by Admin Moderator. [history]
WASHINGTON--The number of U.S. workers filing applications for jobless benefits fell last week, suggesting that the labor market continues to slowly improve.
Initial jobless claims--a measure of layoffs--dropped by 23,000 to a seasonally adjusted 369,000 in the week ended Oct. 20, the Labor Department said Thursday. Economists surveyed by Dow Jones Newswires had forecast 365,000 new applications for jobless benefits.
(Excerpt) Read more at nasdaq.com ...
Did they exclude California again??
Revised UP last week so they could FALL farther this week.......See how easy that is?.........
Oh, yes, happy days are here again, because 369,000 unemployed PER WEEK is GREAT news — when we have a DEMOCRAT president!
“Jobless claims” is political lingo for “more government BS”.
Too late, Secty Solis.
Probably all the Western states...
Media Suddenly Muted on Jobless Claims
They brag when only half the California reports are in and there is a big drop. They shut up when one and a half weeks of California reports come in and there's a big [increase]. I bet next week when California reports a normal week and there is a drop the Obamaites will be bragging again about how great the recovery is.
RE: Did they exclude California again??
1) Last Week’s Initial jobless claims were REVISED UPWARDS from 388K to 392K. I expect this week’s to be similarly revised UP next week.
2) As for California, nothing’s change for the better.
See here:
http://www.bizjournals.com/sacramento/news/2012/10/25/california-jobless-claims-shoot-up-by.html
TITLE: California jobless claims shoot up by nearly 27,000
The real take away is that the 30 day moving average is CLIMBING (only 1,500, but still an increase). After the trillions spent on “stimulus” and three rounds of money-printing (called Quantitative Easing to fool the sheeple) unemployment claims are still INCREASING. And we are now well into the holiday hiring season - but more people are filing claims. What recovery????
The Wall Street Journal has reported that the advance number of seasonally-adjusted initial unemployment insurance claims filed each week has been revised upward in 56 of the past 57 weeks.
http://blogs.wsj.com/economics/2012/04/05/jobless-claims-keep-getting-revised-up/
Make that 57 of the past 58.
From Zerohedge 10/25/12, 8:39 AM
“last week there were +26,935 initial claims from CA. The week before it: -4,979. Somehow, per the BLS, these numbers offset each other”
What are the odds that they’d be revised upward EVERY SINGLE WEEK? One would think the forecasting model would have to be revised after 10,20,30 weeks in a row of missing by >10%, no?
Sarcasm.
We know all too well: the statistical probability of the initial jobless numbers (which get big headlines) being too low - and therefore better when a Democrat is President is near 100%.
Obama started the game of jiggering numbers to bring about a political goal, a press cycle of a trend in his favor.
What we have learned is that it is a great game and others can play as well. That would be boards of directors and captains of industry as players. They are vigorously playing the game and their numbers are earnings reports.
What we have seen are earnings reports of less than projected or expected and a resultant decrease in market averages. Like the unemployment numbers, earnings figures will be adjusted upwards in following periods to make it all right and truthful.
But for the short term, the Obama adjustments are tempered or even overcome by the markets decline on the poor earnings reports.
Conspiracy or incompetence.
There are about 50 major issues with this Administration where it comes down to one or the other.
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