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Jobless claims rise in holiday-distorted week
Reuters via Yahoo News ^ | January 3, 2012 | Reporting By Lucia Mutikani; Editing by Andrea Ricci

Posted on 01/03/2013 6:22:34 AM PST by John W

WASHINGTON (Reuters) - The number of Americans filing new claims for unemployment benefits rose last week, but the data continues to be too distorted by the holidays to offer a clear read of labor market conditions.

Initial claims for state unemployment benefits increased 10,000 to a seasonally adjusted 372,000, the Labor Department said on Thursday. The prior week's figure was revised to show 12,000 more applications than previously reported.

Claims data reported for the week ended December 22 had been artificially depressed by the holidays, which resulted in data for 19 states being estimated.

A Labor Department official said claims data for nine states, including California and Virginia, had been estimated last week because of the Christmas and New Year holidays. This suggests the numbers are subject to revisions next week.

The four-week moving average for new claims, a better measure of labor market trends, rose 250 to 360,000. The claims data has no bearing on December's employment report, scheduled for release on Friday.

Employers are expected to have added 150,000 jobs to their payrolls last month, little changed from 146,000 in November, according to a Reuters survey of economists.

(Excerpt) Read more at news.yahoo.com ...


TOPICS: Business/Economy; Front Page News; News/Current Events
KEYWORDS:

1 posted on 01/03/2013 6:22:44 AM PST by John W
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To: John W

From another article, the obligatory: More Americans than forecast filed claims for unemployment insurance payments last week...


2 posted on 01/03/2013 6:24:33 AM PST by John W (Viva Cristo Rey!)
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To: John W
"data continues to be too distorted by the holidays to offer a clear read of labor market conditions."

I note they never added that disqualifier when it applied to all the temporary holiday jobs in December which made Obama's numbers look better.

3 posted on 01/03/2013 6:25:29 AM PST by circlecity
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To: John W

“The number of Americans filing new claims for unemployment benefits rose last week, but the data continues to be too distorted by the holidays to offer a clear read of labor market conditions.”

It’s real high, but just too DISTORTED by the HOLIDAYS to understand.

Heil Hussein — happy days are here again!


4 posted on 01/03/2013 6:27:18 AM PST by treetopsandroofs (Had FDR been GOP, there would have been no World Wars, just "The Great War" and "Roosevelt's Wars".)
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To: John W

I can understand the distortion problem. After all, we’ve never had a Christmas holiday season before ...


5 posted on 01/03/2013 6:30:06 AM PST by ClearCase_guy (Nothing will change until after the war.)
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To: ClearCase_guy

Yeah, you can’t get good numbers with these unexpected holidays popping up.


6 posted on 01/03/2013 6:55:40 AM PST by ltc8k6
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To: John W

Every week we get either a disclaimer in the form of an excuse (i.e. turd polishing) when it is a bad result or a whispered confession (i.e. and “oh by the way) if it is a false improved result.

Face it the employment/unemployment picture is dismal. The employment/unemployment picture is WORSE than it was four years ago. Only smoke, mirrors, and LIES can keep the uninformed voter believing otherwise.


7 posted on 01/03/2013 7:05:39 AM PST by Proud2BeRight
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To: John W

Seems everyone went bonkers last week when the number reported was 350,000 (lowest if forever), only to be adjusted UPWARD by 12,000. The lyin’ POS’s haven’t gotten the number correct in four years. Let’s see, how long has Bowbama been in office?


8 posted on 01/03/2013 7:20:56 AM PST by Bushbacker1 (I miss President Bush! (Oathkeeper))
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To: Proud2BeRight

My three indicators are the following;
1) Traffic is ligher than and week in years
2) No employments signs hung anywhere
3) Most commercial property has a “for sale” sign on it.
Right now it sucks and getting worse


9 posted on 01/03/2013 7:23:38 AM PST by Quick Shot
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To: Quick Shot

It’s the Lying Eyes Syndrome. Who are we to believe? One indicator I watch is foreclosure legal ads in the local paper. Been back through the roof the last two months.


10 posted on 01/03/2013 7:37:37 AM PST by John W (Viva Cristo Rey!)
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To: John W

Why do we report these statistics. I don’t believe anything reported any more, and no one cares what the numbers are anymore. It is too theoretical (unless you are one of them, I suppose). The few who watch this blame the republicans, anyway. Why care about any economic stats?

If we don’t care about the debt, then nothing else will matter soon, anyway.

Now, in Iceland, Germany, and other countries, they even tell people what they can name their children.

If we care about managing names by law, then we certainly have no say in the debt.


11 posted on 01/03/2013 7:52:06 AM PST by LachlanMinnesota
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To: John W

I haven’t heard of the usual holiday temp jobs but if there were then they may not be laid off until after January’s inventory is complete. Expect more filings in Feb.


12 posted on 01/03/2013 8:15:28 AM PST by bgill (We've passed the point of no return. Welcome to Al Amerika.)
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To: John W
The four-week moving average for new claims, a better measure of labor market trends, rose 250 to 360,000.

wink, wink, nudge, nudge
13 posted on 01/03/2013 9:41:54 AM PST by stylin19a (Obama - Fredo smart)
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To: John W

They obfuscate the numbers so much that it’s now very difficult to read these stories.


14 posted on 01/03/2013 10:30:34 AM PST by demshateGod (The fool hath said in his heart, There is no God.)
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To: Bushbacker1

Yeah. 12 freaking thousand!


15 posted on 01/03/2013 10:32:41 AM PST by demshateGod (The fool hath said in his heart, There is no God.)
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To: John W
Jobless claims rise in holiday-distorted week

seasonally adjusted 372,000

Aren't the seasonal adjustments supposed to account for the holiday distortion? Of course, we know why it's really reported this way.

16 posted on 01/03/2013 4:06:40 PM PST by TwelveOfTwenty (Ho, ho, hey, hey, I'm BUYcotting Chick-Fil-A)
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To: TwelveOfTwenty

To cover Hussein’s worthless hind end?


17 posted on 01/03/2013 4:50:28 PM PST by John W (Viva Cristo Rey!)
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