Posted on 11/29/2012 6:20:31 AM PST by mykroar
The number of Americans filing new claims for unemployment benefits dropped for a second straight week last week, unwinding some of the storm-related surge, which has muddled the labor market picture.
Initial claims for state unemployment benefits dropped 23,000 to a seasonally adjusted 393,000, the Labor Department said on Thursday. The prior week's figure was revised up to show 6,000 more applications than previously reported.
Economists polled by Reuters had forecast claims falling to 390,0000 last week. The four-week moving average for new claims, a better measure of labor market trends, increased 7,500 to 405,250, the highest level since October last year.
Read more: http://www.foxbusiness.com/economy/2012/11/29/weekly-jobless-claims-fall/#ixzz2DcYziPYt
Some things never change.
The four-week moving average for new claims, a better measure of labor market trends, increased 7,500 to 405,250, the highest level since October last year.
And of course, no mention that most of the hires right now are temp Christmas jobs. See you in January.
They do this every holiday season.
Then they have to backtrack in january and february.
Then they spend the springtime hyping another recovery summer.
Then they spend August trying to explain the unexpectedly underperforming summer numbers.
And around and around we go.
“The prior week’s figure was revised up to show 6,000 more applications than previously reported.
Some things never change.”
This is the 86th upward revision in 87 weeks.
http://www.exposingtheleft.blogspot.com/2012/11/4-week-average-jobless-claims-at-13.html
There's the money line. Despite the rosey headline, these numbers are horrible even in the middle of the Christmas rush.
The new normal: Obamugabe’s Amerika is one of high unemployment, high energy prices, and slavery to government.
Oh, and PUNISHING successful capitalists, too.
“dropped 23,000 to a seasonally adjusted 393,000”
That would mean that last week’s number (410k) was adjusted up to 416k.
Wanna bet this week’s is also adjusted up.
As many times as we hear that the jobless claims fall we should easily be at 0% unemployment.
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